The Exclusive Buyer Brokerage Agreement is a crucial document in New Zealand's real estate transactions, designed to protect both the buyer's and agent's interests in property purchases. This agreement is typically used when a buyer seeks dedicated professional representation in their property search, ensuring they receive priority service and expert guidance. The document establishes the exclusive nature of the relationship, preventing the buyer from engaging other agents during the agreement term. It comprehensively outlines the agent's responsibilities, including property search, market analysis, negotiation assistance, and due diligence coordination. The agreement must comply with New Zealand's legal framework, particularly the Real Estate Agents Act 2008 and associated regulations, and includes essential elements such as service scope, compensation terms, confidentiality provisions, and termination conditions.
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1. Parties: Identifies the real estate agent/agency and the buyer(s) entering into the agreement
2. Background: Sets out the context of the agreement, including the buyer's intention to purchase property and the agent's services offered
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Scope: Establishes the exclusive appointment of the agent and defines the scope of property search services
5. Term of Agreement: Specifies the duration of the exclusive agreement and any renewal provisions
6. Agent's Services and Obligations: Details the services the agent will provide, including property search, evaluation, and negotiation assistance
7. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate information and maintaining exclusivity
8. Compensation: Specifies the agent's fees, commission structure, and payment terms
9. Confidentiality: Addresses the handling of confidential information by both parties
10. Termination: Sets out the circumstances and process for terminating the agreement
11. Dispute Resolution: Outlines the process for resolving any disputes between the parties
12. General Provisions: Contains standard legal provisions including governing law, amendments, and notices
1. Additional Services: Details any additional services offered beyond standard buyer's agent services, such as property management advice or renovation consultation
2. International Buyer Provisions: Special provisions for international buyers, including Overseas Investment Office requirements
3. Property Type Specifications: Specific provisions related to particular types of property (commercial, residential, rural) if the search is limited to certain categories
4. Multi-Party Buyers: Additional provisions for multiple buyers acting together, such as couples or business partners
5. Due Diligence Services: Specific provisions regarding the agent's role in coordinating due diligence activities
6. Digital Communications: Provisions regarding the use of electronic communications and digital signatures
1. Schedule 1: Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
2. Schedule 2: Buyer's Requirements: Detailed specification of the buyer's property requirements and preferences
3. Schedule 3: Service Level Agreement: Specific details about response times and service standards
4. Appendix A: Agent's Professional Credentials: Copies of relevant licenses and professional certifications
5. Appendix B: Agency Disclosure Statement: Mandatory disclosure statement as required by NZ real estate regulations
6. Appendix C: Privacy Policy: Detailed privacy policy and information handling procedures
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Property Development
Property Investment
Professional Services
Legal Services
Relevant Teams
Legal
Compliance
Real Estate Sales
Property Advisory
Contract Administration
Business Development
Risk Management
Client Services
Operations
Relevant Roles
Real Estate Agent
Buyers Agent
Real Estate Broker
Property Consultant
Licensed Real Estate Professional
Real Estate Manager
Compliance Officer
Legal Counsel
Property Advisor
Contract Administrator
Business Development Manager
Real Estate Director
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