The Buyer's Agent Agreement is a crucial document in Irish property transactions where a buyer seeks professional representation in their property search and acquisition process. This agreement is particularly relevant in competitive property markets where buyers need dedicated professional assistance to identify and secure suitable properties. The document, governed by Irish law and regulated by the Property Services Regulatory Authority (PSRA), establishes the formal relationship between the buyer and their chosen agent, defining the scope of services, compensation structure, and respective obligations. It includes essential provisions for compliance with Irish property services regulations, consumer protection laws, and data protection requirements. The agreement is commonly used by both private individuals and commercial entities seeking to purchase property in Ireland, providing a clear framework for the agent's authority and responsibilities throughout the property acquisition process.
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1. Parties: Identifies and provides full details of the buyer (principal) and the agent (property service provider)
2. Background: Establishes the context of the agreement, including the buyer's intention to purchase property and the agent's qualifications and licenses
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Scope of Services: Formal appointment of the agent and detailed description of services to be provided
5. Term of Agreement: Duration of the agreement, including start date and termination conditions
6. Agent's Obligations: Comprehensive list of the agent's duties, responsibilities, and standard of service
7. Client's Obligations: Buyer's responsibilities, including providing accurate information and cooperation
8. Fees and Payment Terms: Detailed structure of fees, payment schedule, and circumstances for payment
9. Confidentiality: Obligations regarding confidential information and data protection
10. Conflict of Interest: Procedures for handling potential conflicts of interest
11. Termination: Conditions and procedures for ending the agreement
12. Liability and Indemnity: Limitations of liability and indemnification provisions
13. General Provisions: Standard legal provisions including notices, amendments, and governing law
1. Exclusive Agency: Used when the agreement is exclusive, preventing the buyer from engaging other agents
2. Additional Services: Included when the agent offers extra services beyond standard property search
3. International Purchases: Added when the buyer may be interested in international properties
4. Property Management Services: Included if the agent will provide property management services post-purchase
5. Virtual Services: Details of virtual viewings and remote services if required
6. Success Fee Structure: Used when including performance-based compensation
7. Force Majeure: Added to address unforeseen circumstances that may affect performance
1. Schedule 1: Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
2. Schedule 2: Services Description: Comprehensive list of services included in the agreement
3. Schedule 3: Property Requirements: Detailed specifications of the type of property the buyer is seeking
4. Schedule 4: Agent's Credentials: Copies of relevant licenses and professional certifications
5. Appendix A: Power of Attorney: If applicable, documentation authorizing the agent to act on behalf of the buyer
6. Appendix B: Client Due Diligence: Anti-money laundering and know-your-client documentation
7. Appendix C: Data Protection Notice: Detailed GDPR compliance information and data handling procedures
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Legal Services
Financial Services
Property Investment
Construction
Hospitality
Retail
Commercial Property
Residential Property
Relevant Teams
Legal
Compliance
Real Estate
Property Services
Business Development
Risk Management
Operations
Investment
Client Services
Contract Administration
Relevant Roles
Real Estate Agent
Property Consultant
Legal Counsel
Compliance Officer
Property Services Manager
Real Estate Director
Property Acquisition Manager
Investment Manager
Real Estate Partner
Property Portfolio Manager
Business Development Manager
Contract Manager
Risk Manager
Property Buyer
Real Estate Broker
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