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Non Exclusive Buyer Agency Agreement

Non Exclusive Buyer Agency Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Non Exclusive Buyer Agency Agreement

"I need a Non-Exclusive Buyer Agency Agreement for a Hong Kong-based company looking to acquire multiple commercial properties, with specific provisions for cross-border transactions and multiple agent coordination."

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Document background
The Non-Exclusive Buyer Agency Agreement is a fundamental document in Hong Kong's real estate practice, designed to protect both buyers and agents in property transactions. It is typically used when a property buyer wishes to engage an estate agent's services while maintaining the flexibility to work with other agents. The agreement must comply with Hong Kong's Estate Agents Ordinance and the Estate Agents Authority's regulations, including specific requirements for content and form. It details the scope of the agent's services, property requirements, commission structures, and the non-exclusive nature of the relationship. This document is particularly relevant in Hong Kong's dynamic property market, where buyers often engage multiple agents to maximize their property search effectiveness.
Suggested Sections

1. Parties: Identification of the estate agent and the buyer client, including license numbers and contact details

2. Background: Context of the agreement, stating the buyer's intention to purchase property and agent's services offered

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

4. Appointment and Agency Period: Terms of agent appointment, duration, and non-exclusive nature of the agreement

5. Agent's Services: Detailed description of services to be provided by the agent

6. Buyer's Obligations: Client's responsibilities, including providing accurate requirements and timely responses

7. Commission Structure: Commission rates, payment terms, and conditions for commission becoming payable

8. Property Requirements: Specific criteria and preferences for the property sought

9. Confidentiality: Obligations regarding confidential information and personal data protection

10. Termination: Conditions and procedures for ending the agreement

11. Governing Law and Jurisdiction: Specification of Hong Kong law and courts' jurisdiction

Optional Sections

1. Multiple Properties: Section to be included when buyer may purchase multiple properties

2. Overseas Buyer Provisions: Additional terms for non-Hong Kong residents, including stamp duty implications

3. Joint Buyers: Terms governing multiple buyers acting together

4. Special Requirements: Any unique conditions or requirements specific to the buyer

5. Mortgage Services: Terms related to mortgage referral services if offered

6. Legal Advice: Acknowledgment of right to seek independent legal advice

7. Force Majeure: Provisions for unforeseen circumstances preventing performance

Suggested Schedules

1. Schedule 1 - Property Requirements: Detailed specifications of desired property including location, size, budget, and other requirements

2. Schedule 2 - Commission Structure: Detailed breakdown of commission calculations and payment terms

3. Schedule 3 - Agent's Services: Comprehensive list of services included in the agreement

4. Appendix A - Required Documents: List of documents required from the buyer

5. Appendix B - Estate Agents Authority Prescribed Forms: Relevant forms required under Hong Kong regulations

6. Appendix C - Personal Information Collection Statement: Statement complying with Personal Data (Privacy) Ordinance requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses




























Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Property Investment

Property Management

Professional Services

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Business Development

Property Services

Contract Administration

Documentation

Client Relations

Property Acquisition

Relevant Roles

Real Estate Agent

Property Consultant

Legal Counsel

Compliance Officer

Real Estate Manager

Property Acquisition Manager

Contract Administrator

Real Estate Director

Business Development Manager

Property Investment Advisor

Risk Manager

Documentation Specialist

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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