Buyer Broker Exclusive Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Buyer Broker Exclusive Agreement

"Need a Buyer Broker Exclusive Agreement for our Hong Kong company seeking commercial properties in Kowloon, with specific provisions for multiple authorized representatives and a commission structure capped at 1% for properties above HKD 50 million."

Document background
The Buyer Broker Exclusive Agreement is a crucial document in Hong Kong's real estate market, used when a property buyer wishes to engage a single broker for their property search and acquisition. This agreement, governed by Hong Kong law and regulated under the Estate Agents Ordinance (Cap. 511), establishes an exclusive relationship where the broker becomes the buyer's sole representative. It typically includes detailed specifications of desired properties, commission structures, service scope, and duration of exclusivity. The document is particularly important in Hong Kong's competitive property market, where having dedicated representation can be advantageous. It protects both the broker's interests by ensuring compensation for their efforts and the buyer's interests by securing committed professional assistance in property acquisition.
Suggested Sections

1. Parties: Identification of the buyer(s) and the licensed real estate broker/agency, including license numbers and contact details

2. Background: Context of the agreement, stating the buyer's intention to engage the broker exclusively to assist in purchasing property

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Territory', 'Exclusive Period', and 'Commission'

4. Appointment and Scope: Formal appointment of the broker as exclusive agent and detailed scope of services to be provided

5. Exclusive Rights: Statement of the broker's exclusive right to represent the buyer in property transactions during the term

6. Term and Territory: Duration of the exclusive agreement and geographic area covered

7. Broker's Obligations: Detailed listing of services and duties the broker will perform, including property search, negotiations, and advisory services

8. Buyer's Obligations: Buyer's commitments, including providing accurate information, maintaining exclusivity, and cooperating with the broker

9. Commission Structure: Details of broker's compensation, including rate, calculation method, and payment terms

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

11. Termination: Circumstances and procedures for ending the agreement, including notice requirements

12. General Provisions: Standard contractual clauses including governing law, notices, and entire agreement provisions

Optional Sections

1. Special Requirements: Used when the buyer has specific property requirements or preferences that need to be documented

2. Multiple Buyers: Required when there are multiple buyers acting jointly, defining their relationship and obligations

3. Offshore Buyer Provisions: Included when the buyer is not based in Hong Kong, addressing specific requirements for non-resident buyers

4. Property Management: Optional section for cases where the broker will provide additional property management services after purchase

5. Mortgage Advisory: Used when the broker will assist with mortgage arrangements

6. Foreign Currency Provisions: Required when transactions may involve multiple currencies

7. Power of Attorney: Optional section when the buyer grants specific powers to the broker to act on their behalf

Suggested Schedules

1. Schedule 1: Property Requirements: Detailed specifications of the type of property sought, including location, size, budget, and other requirements

2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms

3. Schedule 3: Broker's Services: Comprehensive list of services to be provided by the broker

4. Schedule 4: Required Documents: List of documents required from the buyer for due diligence and regulatory compliance

5. Appendix A: Estate Agents Authority Prescribed Forms: Mandatory forms required under Hong Kong estate agency regulations

6. Appendix B: Client Due Diligence Forms: Forms required for anti-money laundering compliance

7. Appendix C: Data Privacy Notice: Required notice under Hong Kong's Personal Data (Privacy) Ordinance

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 legal definitions
Relevant Industries

Real Estate

Property Development

Financial Services

Legal Services

Corporate Services

Investment Management

Banking

Insurance

Retail

Hospitality

Manufacturing

Technology

Relevant Teams

Legal

Compliance

Real Estate

Property Management

Corporate Services

Risk Management

Finance

Operations

Business Development

Facilities Management

Contract Administration

Relevant Roles

Real Estate Broker

Property Agent

Legal Counsel

Corporate Lawyer

Compliance Officer

Risk Manager

Property Manager

Investment Manager

Company Director

Company Secretary

Business Development Manager

Facilities Manager

Contract Manager

Real Estate Portfolio Manager

Chief Financial Officer

Property Acquisition Manager

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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