Buyer Agent Exclusive Agreement Template for England and Wales

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Key Requirements PROMPT example:

Buyer Agent Exclusive Agreement

"I need a Buyer Agent Exclusive Agreement for a high-net-worth individual looking to purchase luxury residential properties in Central London, with a 12-month exclusivity period starting March 2025 and a tiered commission structure based on purchase price."

Document background
The Buyer Agent Exclusive Agreement is a crucial document in English and Welsh property transactions, designed to protect both buyers and their appointed agents during the property search and acquisition process. This agreement is particularly important when buyers seek professional representation in competitive markets or require specialized property search services. It establishes clear terms of engagement, including exclusivity periods, commission structures, and service scope, while ensuring compliance with the Estate Agents Act 1979 and related legislation. The agreement is commonly used by private buyers, investors, and corporations seeking professional assistance in property acquisition.
Suggested Sections

1. Parties: Identifies and defines the buyer and agent entering into the agreement

2. Background: Explains the context and purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Scope: Details of agent's appointment and services to be provided

5. Duration and Exclusivity: Terms of the exclusive period and agreement duration

6. Agent's Obligations: Detailed responsibilities and duties of the agent

7. Client's Obligations: Responsibilities and commitments of the buyer

8. Fees and Payment: Commission structure and payment terms

9. Termination: Conditions and process for ending the agreement

Optional Sections

1. Property Requirements: Detailed specifications of desired property - use when buyer has specific property criteria

2. International Purchases: Additional terms for international property transactions - use when considering overseas properties

3. Additional Services: Terms for extra services beyond standard scope - use when offering premium or additional services

Suggested Schedules

1. Schedule 1: Fee Structure: Detailed breakdown of all fees and commission calculations

2. Schedule 2: Service Level Agreement: Detailed scope of services and performance standards

3. Appendix A: Property Requirements: Detailed specification of buyer's property requirements

4. Appendix B: Compliance Documentation: Required regulatory and compliance certificates

Authors

Alex Denne

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

Relevant Industries
Relevant Teams
Relevant Roles
Industries

Estate Agents Act 1979: Primary legislation regulating estate agency work, defining agent duties, requiring disclosure of conflicts of interest, and mandating proper handling of client money

Consumer Rights Act 2015: Ensures fairness in consumer contracts, regulates unfair terms, requires transparency in pricing and services, and defines consumer rights and remedies

Consumer Contracts Regulations 2013: Provides cooling-off periods, requires specific information disclosure to consumers, and regulates distance selling and off-premises contracts

Money Laundering Regulations 2017: Sets requirements for due diligence, identity verification, and record keeping obligations in property transactions

Data Protection Act 2018 and UK GDPR: Governs the handling of personal data, privacy requirements, and data security measures in business relationships

Supply of Goods and Services Act 1982: Establishes quality of service provisions and reasonable care and skill requirements for service providers

Property Ombudsman Scheme requirements: Outlines professional standards, complaint handling procedures, and code of practice for property agents

Competition Act 1998: Regulates fair competition practices and restricts anti-competitive behavior in the property market

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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