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Buyers Representation Agreement Template for New Zealand

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Key Requirements PROMPT example:

Buyers Representation Agreement

"I need a Buyer's Representation Agreement for a non-exclusive arrangement with a real estate agent in Auckland, New Zealand, focusing on commercial property investments with a budget range of $2-5 million, to commence from March 1, 2025."

Document background
The Buyer's Representation Agreement is a crucial document in New Zealand real estate transactions, designed to formalize the relationship between a property buyer and their chosen real estate agent. This agreement becomes necessary when a buyer wishes to engage professional representation in their property search and purchase process. It clearly defines the scope of services, compensation structure, and obligations of both parties while ensuring compliance with New Zealand's Real Estate Agents Act 2008 and associated regulations. The document includes essential details such as the agent's duties, buyer's requirements, confidentiality obligations, and termination provisions. It's particularly important in establishing whether the representation is exclusive or non-exclusive and protecting both parties' interests throughout the property acquisition process.
Suggested Sections

1. Parties: Identifies the real estate agent/agency and the buyer, including full legal names and contact details

2. Background: Explains the context of the agreement - that the buyer wishes to engage the agent to assist in finding and purchasing property

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Term: Establishes the agent's appointment, specifies whether it's exclusive or non-exclusive, and sets the duration of the agreement

5. Agent's Services: Details the specific services the agent will provide to the buyer

6. Buyer's Instructions and Requirements: Outlines the buyer's property requirements, preferences, and price range

7. Agent's Obligations: Lists the agent's duties, including statutory obligations under the Real Estate Agents Act

8. Buyer's Obligations: Specifies what the buyer must do to enable the agent to perform their services

9. Fees and Expenses: Details the agent's compensation structure and any reimbursable expenses

10. Confidentiality: Addresses the handling of confidential information by both parties

11. Termination: Specifies how and when the agreement can be terminated by either party

12. General Provisions: Contains standard contract clauses including governing law, notices, and amendments

Optional Sections

1. Multiple Buyers: Additional provisions when there are multiple buyers acting together

2. International Buyer Provisions: Special considerations for overseas buyers, including Overseas Investment Office requirements

3. Auction Services: Additional terms if the agent will represent the buyer at auctions

4. Due Diligence Services: Specific terms if the agent will assist with property due diligence

5. Property Management: Terms for additional property management services if the buyer intends to use the property as an investment

6. Conflict of Interest: Special provisions when the agent may have conflicts of interest with other clients

7. Special Conditions: Any unique terms agreed between the parties

Suggested Schedules

1. Schedule 1 - Property Requirements: Detailed list of the buyer's property requirements and preferences

2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees, commissions, and payment terms

3. Schedule 3 - Agency Disclosure: Mandatory disclosure statement as required by the Real Estate Agents Act

4. Appendix A - Buyer's Identity Verification: AML documentation requirements and verification process

5. Appendix B - Agent's Professional Profile: Agent's qualifications, experience, and professional memberships

6. Appendix C - Services Checklist: Detailed checklist of all services included in the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



































Clauses



































Relevant Industries

Real Estate

Property Development

Property Investment

Legal Services

Professional Services

Financial Services

Property Management

Relevant Teams

Legal

Real Estate Operations

Compliance

Property Services

Contract Administration

Risk Management

Client Services

Real Estate Sales

Documentation

Relevant Roles

Real Estate Agent

Property Buyer's Agent

Real Estate Agency Director

Real Estate Compliance Officer

Legal Counsel

Property Lawyer

Real Estate Branch Manager

Contracts Administrator

Real Estate Operations Manager

Compliance Manager

Property Investment Advisor

Real Estate Transaction Coordinator

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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