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Buyer Rep Agreement
"I need a Buyer Rep Agreement for a high-net-worth individual client looking to purchase luxury residential properties in Mumbai, with exclusive representation rights and additional confidentiality provisions, to be effective from March 1, 2025."
1. Parties: Identifies and provides details of the buyer (client) and the real estate agent/agency, including RERA registration numbers
2. Background: Explains the context of the agreement, including the buyer's intention to purchase property and the agent's qualifications and services
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Appointment and Scope of Services: Details the formal appointment of the agent and comprehensive list of services to be provided
5. Term and Termination: Specifies the duration of the agreement and conditions for termination by either party
6. Agent's Rights and Obligations: Lists the agent's duties, responsibilities, and rights under the agreement
7. Client's Rights and Obligations: Outlines the buyer's responsibilities, including providing accurate information and cooperation
8. Compensation: Details the fee structure, payment terms, and conditions for commission earning
9. Confidentiality: Establishes confidentiality obligations regarding shared information
10. Representations and Warranties: Contains statements of fact and promises made by both parties
11. Liability and Indemnification: Addresses the extent of agent's liability and mutual indemnification provisions
12. Governing Law and Jurisdiction: Specifies applicable law and courts for dispute resolution
13. Notices: Details how formal communications between parties should be made
14. General Provisions: Contains standard boilerplate clauses including force majeure, severability, and entire agreement
1. Exclusive Right to Represent: Used when the agreement is exclusive, preventing the buyer from working with other agents
2. Property Search Criteria: Include when specific property requirements need to be documented in the main agreement rather than schedule
3. Digital Services: Include when the agent provides virtual tours, online platforms, or other digital services
4. International Property Services: Add for agreements involving potential international property purchases
5. Multiple Agency Disclosure: Include when the agent may represent other buyers looking for similar properties
6. Transaction Coordination Services: Add when agent provides additional transaction management services
7. Post-Closing Services: Include when agent offers services extending beyond the closing date
1. Schedule A - Property Requirements: Detailed specifications of the type of property sought, including location, size, budget, and other preferences
2. Schedule B - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
3. Schedule C - Scope of Services: Comprehensive list of specific services included in the agreement
4. Schedule D - Agent Credentials: Copies of agent's RERA registration, professional certifications, and licenses
5. Appendix 1 - Required Documents: List of documents the buyer needs to provide for property transactions
6. Appendix 2 - Agency Disclosure Form: Standard form explaining the agency relationship and potential conflicts
7. Appendix 3 - Service Level Standards: Detailed performance standards and response time commitments
Authors
Authorized Representative
Broker
Brokerage Fee
Business Day
Buyer
Closing
Confidential Information
Effective Date
Exclusive Period
Force Majeure Event
Intellectual Property Rights
Listing Price
Material Information
Offer
Party/Parties
Property
Property Documentation
Purchase Price
RERA
RERA Registration Number
Real Estate Agent
Representative Services
Sale Agreement
Sale Deed
Schedule
Scope of Services
Search Criteria
Service Fee
State Real Estate Authority
Term
Territory
Transaction
Transaction Documents
Scope of Services
Term and Duration
Exclusivity
Compensation
Payment Terms
Representations and Warranties
Confidentiality
Non-Disclosure
Data Protection
Performance Obligations
Service Standards
Termination
Force Majeure
Liability
Indemnification
Insurance
Compliance
Regulatory
Notice
Assignment
Amendment
Governing Law
Dispute Resolution
Severability
Entire Agreement
Authority
Non-Solicitation
Good Faith
Record Keeping
Property Search
Documentation Requirements
Communication
Conflict of Interest
Waiver
Real Estate
Property Development
Property Management
Financial Services
Professional Services
Construction
Legal Services
Consulting Services
Legal
Compliance
Real Estate
Business Development
Client Services
Risk Management
Operations
Contract Administration
Property Services
Transaction Support
Real Estate Agent
Property Consultant
Real Estate Broker
Legal Counsel
Compliance Officer
Contract Manager
Real Estate Manager
Business Development Manager
Property Advisor
Client Relationship Manager
Transaction Coordinator
Real Estate Director
Chief Legal Officer
Risk Manager
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