The Buyer Representation Agreement is a crucial document in Hong Kong real estate transactions that formalizes the professional relationship between a licensed estate agent and a property buyer. This agreement is designed to comply with Hong Kong's Estate Agents Ordinance (Cap. 511) and related regulations, providing a clear framework for the services to be rendered and the obligations of both parties. It is typically used when a buyer seeks professional representation in property transactions, whether for residential or commercial properties. The document includes essential details such as service scope, commission structures, confidentiality provisions, and compliance requirements with local regulations. The agreement also addresses specific Hong Kong market considerations, including provisions for handling potential conflicts of interest and dual agency situations, making it an indispensable tool for protected and regulated property transactions in the Hong Kong market.
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1. Parties: Identifies and provides full details of the estate agent/agency and the buyer client
2. Background: Contextual information explaining the purpose of the agreement and the buyer's intention to engage the agent
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Appointment and Scope of Services: Details the official appointment of the agent and comprehensive list of services to be provided
5. Term of Agreement: Specifies the 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: Outlines the buyer's responsibilities, including providing accurate information and cooperation
8. Commission Structure: Details of the agent's compensation, including rate, calculation method, and payment terms
9. Confidentiality: Provisions regarding the handling and protection of confidential information
10. Conflict of Interest: Addresses potential conflicts and how they will be handled
11. Termination: Conditions and procedures for ending the agreement by either party
12. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes
13. General Provisions: Standard clauses including entire agreement, amendments, and notices
1. Dual Agency: Required when the agent may potentially represent both buyer and seller
2. International Property Services: Include when the buyer may be interested in overseas properties
3. Language Declaration: Required when the agreement is bilingual or when the client's primary language is not English or Chinese
4. Special Requirements: Include when the buyer has specific property requirements or conditions
5. Property Management Services: Include if the agent will provide additional property management services post-purchase
6. Digital Communications Consent: Include when parties agree to use electronic communications for official notices
7. Anti-Money Laundering Compliance: Include detailed AML obligations when dealing with high-value transactions or foreign buyers
1. Schedule 1: Service Package Details: Detailed breakdown of services included in the agreement and associated fees
2. Schedule 2: Commission Structure: Detailed commission calculations, including examples and special circumstances
3. Schedule 3: Buyer's Requirements: Detailed specification of the buyer's property requirements and preferences
4. Schedule 4: Required Documentation: List of documents required from the buyer for compliance and verification
5. Appendix A: Estate Agents Authority Prescribed Forms: Relevant forms required under Hong Kong regulations
6. Appendix B: Agent's License and Credentials: Copies of the agent's professional licenses and certifications
7. Appendix C: Privacy Policy: Detailed privacy policy and data handling procedures
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Professional Services
Legal Services
Financial Services
Property Investment
Property Management
Construction
Urban Development
Residential Property
Commercial Property
Relevant Teams
Legal
Compliance
Real Estate
Sales
Business Development
Risk Management
Client Relations
Property Services
Contracts Administration
Corporate Secretarial
Investment Advisory
Relevant Roles
Estate Agent
Real Estate Broker
Property Consultant
Legal Counsel
Compliance Officer
Real Estate Manager
Property Acquisition Manager
Sales Director
Business Development Manager
Contract Administrator
Risk Manager
Company Secretary
Property Investment Advisor
Real Estate Transaction Manager
Client Relations Manager
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