Buyer Agency Agreement Template for Malaysia

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Key Requirements PROMPT example:

Buyer Agency Agreement

"I need a Buyer Agency Agreement for my real estate company in Kuala Lumpur, specifically for high-end residential properties with a minimum value of RM 5 million, including virtual viewing services and international buyer provisions."

Document background

The Buyer Agency Agreement is a critical document in Malaysian real estate transactions that formalizes the relationship between a property buyer and their chosen real estate agent. This agreement is particularly important in the Malaysian context where real estate transactions are regulated by specific legislation including the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 and related regulations. The document is used when a buyer wants professional representation in their property search and acquisition process, requiring detailed documentation of the agent's duties, compensation structure, and service scope. It protects both parties' interests by clearly defining the terms of engagement, responsibilities, and expectations within the Malaysian legal framework. The agreement typically includes provisions for property search parameters, negotiation services, due diligence assistance, and transaction support, while ensuring compliance with local real estate practices and regulations.

Suggested Sections

1. Parties: Identification of the buyer (principal) and the real estate agent (agent), including full legal names, registration numbers for agents, and contact details

2. Background: Context of the agreement, including the buyer's intention to purchase property and the agent's qualifications and registration status

3. Definitions: Key terms used throughout the agreement, including technical real estate terms and specific Malaysian property terminology

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

5. Duration of Agreement: Term of the agency relationship, including start and end dates, and any extension provisions

6. Agent's Duties and Responsibilities: Comprehensive list of services the agent will provide, including property search, negotiations, and advisory services

7. Buyer's Obligations: Buyer's commitments, including providing accurate information and cooperating with the agent

8. Compensation: Details of agent's fees, commission structure, and payment terms

9. Exclusivity: Whether the agreement is exclusive or non-exclusive, and implications thereof

10. Termination: Conditions and procedures for ending the agreement by either party

11. Confidentiality: Obligations regarding confidential information and compliance with Personal Data Protection Act

12. Governing Law: Specification of Malaysian law as governing law and jurisdiction

13. Execution: Signature blocks and witnessing requirements

Optional Sections

1. Protection Period: Used when the parties want to specify a period after termination during which the agent remains entitled to compensation for properties shown

2. Virtual Services: Include when the agent will provide virtual property viewings or online services

3. International Property Search: Add when the scope includes searching for properties outside Malaysia

4. Multiple Agent Coordination: Include when the buyer may work with other agents for specific property types or locations

5. Property Requirements: Optional detailed section specifying buyer's property preferences and requirements

6. Force Majeure: Include specific provisions for unforeseen circumstances affecting performance

7. Dispute Resolution: Optional detailed procedures for handling disputes, including mediation provisions

Suggested Schedules

1. Schedule A - Agent's Fee Structure: Detailed breakdown of all fees, commissions, and payment terms

2. Schedule B - Scope of Services: Comprehensive list of specific services to be provided by the agent

3. Schedule C - Buyer's Property Requirements: Detailed specifications of the type, location, and features of properties sought

4. Schedule D - Agent's Credentials: Copy of agent's license, professional certifications, and registration details

5. Appendix 1 - Property Viewing Log: Template for recording properties shown to the buyer

6. Appendix 2 - Agency Disclosure Form: Standard form required by Malaysian real estate regulations regarding agency relationships

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Residential Property

Commercial Property

Industrial Property

Retail Property

Hospitality

Mixed-Use Development

Legal Services

Property Management

Property Investment

Relevant Teams

Legal

Real Estate

Compliance

Property Acquisition

Business Development

Contract Administration

Client Relations

Investment

Operations

Risk Management

Relevant Roles

Real Estate Agent

Property Buyer

Real Estate Broker

Property Consultant

Legal Counsel

Compliance Officer

Contract Manager

Property Investment Manager

Real Estate Manager

Business Development Manager

Property Acquisition Manager

Real Estate Transaction Coordinator

Client Relations Manager

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A standard legal contract template compliant with Malaysian law, suitable for establishing binding agreements between various types of parties operating within Malaysian jurisdiction.

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Let's create your Buyer Agency Agreement

Authors

Alex Denne

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