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Agency Agreement For Sale Of Residential Property for New Zealand

Agency Agreement For Sale Of Residential Property Template for New Zealand

A legally binding agreement governed by New Zealand law that establishes the terms and conditions under which a licensed real estate agent or agency is authorized to market and sell a residential property on behalf of the property owner. The document complies with the Real Estate Agents Act 2008 and associated regulations, detailing the scope of authority, commission structure, marketing arrangements, and obligations of both parties. It includes specific provisions for the New Zealand real estate market, including required disclosures, professional conduct requirements, and dispute resolution processes.

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What is a Agency Agreement For Sale Of Residential Property?

The Agency Agreement For Sale Of Residential Property is a crucial document in New Zealand's real estate industry, required whenever a property owner engages a licensed real estate agent or agency to sell their residential property. This agreement is governed by the Real Estate Agents Act 2008 and must comply with specific regulatory requirements including mandatory content, disclosure obligations, and professional conduct standards. It establishes the legal framework for the agency relationship, detailing the agent's authority to market and sell the property, commission structures, marketing strategies, and both parties' obligations. The document is designed to protect both the property owner's and agent's interests while ensuring transparency and compliance with New Zealand real estate laws. It is particularly important as it forms the basis for the legal relationship between the agent and seller, and includes specific provisions for the New Zealand market context, including required cooling-off periods and dispute resolution mechanisms.

What sections should be included in a Agency Agreement For Sale Of Residential Property?

1. Parties: Identifies the agent/agency and the property owner(s) with full legal names and contact details

2. Background: Brief context explaining the owner's intention to sell the property and engage the agent

3. Definitions: Key terms used throughout the agreement including 'Property', 'Agency Period', 'Commission', 'Qualifying Sale'

4. Appointment and Agency Period: Terms of agent appointment, whether sole or general agency, and duration of the agreement

5. Agent's Obligations: Detailed listing of agent's duties, responsibilities, and service commitments

6. Client's Obligations: Property owner's responsibilities, including providing accurate information and access to the property

7. Commission and Expenses: Commission structure, calculation method, payment terms, and additional expenses

8. Marketing and Advertising: Agreement on marketing strategy, associated costs, and approval processes

9. Property Information: Details about the property and disclosure requirements

10. Sale Process: Procedures for handling offers, negotiations, and concluding sales

11. Termination: Conditions and process for ending the agreement

12. Disputes Resolution: Process for handling disagreements and complaints

13. General Provisions: Standard legal clauses including governing law, entire agreement, and amendments

What sections are optional to include in a Agency Agreement For Sale Of Residential Property?

1. Multiple Properties: Additional terms when the agreement covers more than one property

2. Overseas Marketing: Specific provisions for marketing to international buyers

3. Auction Terms: Special conditions if the property is to be sold by auction

4. Tender Process: Specific terms if the property is to be sold by tender

5. Multi-Agency Arrangements: Terms for when multiple agencies are involved

6. Referral Arrangements: Terms regarding referral fees or arrangements with other agents

7. Property Management Transition: Terms for properties currently under property management

8. Special Conditions: Any unique requirements or circumstances specific to the property or client

What schedules should be included in a Agency Agreement For Sale Of Residential Property?

1. Schedule 1: Property Details: Comprehensive description of the property including title details, chattels, and known issues

2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, calculations, and examples

3. Schedule 3: Marketing Plan: Detailed marketing strategy, timeline, and associated costs

4. Schedule 4: Pricing Schedule: Agreed listing price or price range, and any pricing strategy

5. Appendix A: Property Disclosure Statement: Owner's declarations about the property's condition and known issues

6. Appendix B: Required Documentation: List of documents required from the owner (titles, consents, etc.)

7. Appendix C: Marketing Materials Approval Form: Template for owner approval of marketing materials and costs

8. Appendix D: Agency Authority Form: Standard form required under NZ real estate regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

New Zealand

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions































Clauses



































Relevant Industries

Real Estate

Residential Property

Legal Services

Financial Services

Property Development

Property Investment

Professional Services

Relevant Teams

Legal

Real Estate Sales

Compliance

Property Management

Business Development

Operations

Contract Administration

Risk Management

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Real Estate Branch Manager

Compliance Officer

Legal Counsel

Property Manager

Real Estate Agency Director

Contract Administrator

Business Development Manager

Sales Manager

Property Consultant

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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