The Buyer Agent Exclusive Agreement is a crucial document in New Zealand real estate transactions where a buyer seeks dedicated representation in property acquisition. This agreement is particularly relevant when buyers want professional assistance in searching for, evaluating, and negotiating property purchases. It establishes an exclusive relationship that protects both the agent's interests in securing compensation for their services and the buyer's interests in receiving dedicated, professional representation. The document complies with New Zealand's Real Estate Agents Act 2008 and related regulations, incorporating mandatory disclosures and professional standards required by the Real Estate Authority (REA). The agreement is commonly used in both residential and commercial property transactions, providing clarity on service scope, fees, and obligations while ensuring all parties are protected under New Zealand law.
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1. Parties: Identifies the buyer and the licensed real estate agent/agency, including full legal names and contact details
2. Background: Explains the context of the agreement - that the buyer wishes to engage the agent exclusively to assist in finding and purchasing property
3. Definitions: Defines key terms used throughout the agreement including 'Exclusive Period', 'Property Requirements', 'Purchase Price', and 'Agent's Fee'
4. Appointment and Scope: Details the exclusive appointment of the agent and the specific services to be provided
5. Term of Agreement: Specifies the duration of the exclusive agency period and any renewal provisions
6. Agent's Obligations: Lists the agent's duties, including property search, negotiations, due diligence assistance, and communication requirements
7. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate information, maintaining exclusivity, and cooperation
8. Fees and Expenses: Details the agent's compensation structure, payment terms, and any reimbursable expenses
9. Confidentiality: Addresses the handling of confidential information by both parties
10. Termination: Specifies conditions for ending the agreement, notice requirements, and any early termination fees
11. General Provisions: Standard contract clauses including governing law, entire agreement, and amendments
1. International Buyer Provisions: Additional clauses for overseas buyers addressing Overseas Investment Office requirements and specific obligations
2. Multiple Buyer Provisions: Special terms for when multiple buyers are jointly engaging the agent
3. Property Type Specific Terms: Additional provisions specific to commercial, rural, or specialized property types
4. Competing Interests: Provisions addressing potential conflicts when the agent represents other buyers
5. Success Fee Structure: Optional performance-based fee arrangements beyond the standard fee structure
1. Schedule 1: Property Requirements: Detailed specifications of the buyer's property requirements including location, price range, and essential features
2. Schedule 2: Fee Schedule: Detailed breakdown of all fees, commissions, and payment structures
3. Schedule 3: Agency Disclosure: Mandatory disclosure statement as required by the Real Estate Agents Act 2008
4. Appendix A: Buyer's Proof of Funds: Documentation confirming the buyer's ability to purchase property in the specified range
5. Appendix B: Agent's License Details: Copy of the agent's current license and professional credentials
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Professional Services
Legal Services
Financial Services
Property Investment
Construction
Hospitality
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Acquisitions
Contract Administration
Risk Management
Operations
Finance
Business Development
Relevant Roles
Real Estate Agent
Buyer's Agent
Property Consultant
Real Estate Broker
Legal Counsel
Property Manager
Compliance Officer
Real Estate Director
Acquisitions Manager
Property Investment Advisor
Contract Administrator
Real Estate Transaction Coordinator
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