Buyer Broker Exclusive Agreement Template for Malaysia

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Key Requirements PROMPT example:

Buyer Broker Exclusive Agreement

"I need a Buyer Broker Exclusive Agreement for Malaysia that includes provisions for searching both local and Singapore properties, with a focus on luxury residential properties above RM5 million, and the agreement should run from January 2025 for 12 months."

Document background
The Buyer Broker Exclusive Agreement is a crucial document in Malaysian real estate transactions where a buyer seeks dedicated professional representation in their property search. This agreement is particularly important in competitive real estate markets where buyers need assured, committed representation. It establishes the broker's exclusive right to represent the buyer, protecting both parties' interests while ensuring compliance with Malaysian regulations, particularly the Valuers, Appraisers, Estate Agents and Property Managers Act 1981. The document typically includes detailed property requirements, commission structures, service scope, and professional obligations, making it essential for both residential and commercial property transactions in Malaysia.
Suggested Sections

1. Parties: Identifies and provides full details of the buyer and the licensed real estate broker/agency

2. Background: Establishes the context of the agreement, including the buyer's intention to acquire property and the broker's qualifications

3. Definitions: Defines key terms used throughout the agreement including 'Exclusive Period', 'Property Requirements', 'Commission', etc.

4. Appointment and Scope: Establishes the exclusive appointment of the broker and details the specific services to be provided

5. Duration: Specifies the term of the exclusive agreement and any renewal provisions

6. Broker's Obligations: Details the broker's duties including property search, negotiations, and professional service standards

7. Buyer's Obligations: Outlines the buyer's commitments including exclusive dealing and information provision

8. Commission Structure: Details the broker's compensation, payment terms, and circumstances when commission becomes payable

9. Confidentiality: Addresses the handling of confidential information shared during the engagement

10. Termination: Specifies conditions and procedures for ending the agreement

11. Governing Law: Confirms Malaysian law governs the agreement and jurisdiction for disputes

Optional Sections

1. Property Type Restrictions: Used when the buyer has specific property type requirements or restrictions

2. International Property Services: Include when the search scope includes properties outside Malaysia

3. Multiple Buyer Provisions: Required when multiple buyers are party to the agreement

4. Special Market Conditions: Include during unusual market circumstances requiring specific provisions

5. Additional Services: Used when broker provides extra services beyond standard property search

6. Force Majeure: Include when specific provisions for unforeseen circumstances are needed

7. Anti-Money Laundering Compliance: Include for high-value transactions or when dealing with international buyers

Suggested Schedules

1. Schedule 1: Property Requirements: Detailed specifications of the buyer's property requirements including location, size, budget, and features

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

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

4. Schedule 4: Required Documents: List of documents the buyer must provide for due diligence

5. Appendix A: Broker's License: Copy of broker's current registration/license with the Board of Valuers, Appraisers and Estate Agents

6. Appendix B: Agency Disclosure: Standard form disclosing the nature of the agency relationship as required by Malaysian regulations

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

Real Estate

Property Development

Commercial Property

Residential Property

Investment Management

Professional Services

Legal Services

Financial Services

Property Management

Construction

Relevant Teams

Legal

Real Estate

Property Management

Acquisitions

Compliance

Business Development

Investment

Operations

Corporate Services

Risk Management

Relevant Roles

Real Estate Broker

Property Agent

Real Estate Agent

Property Consultant

Estate Agent

Legal Counsel

Corporate Lawyer

Property Manager

Investment Manager

Acquisitions Manager

Real Estate Director

Property Director

Compliance Officer

Real Estate Transaction Manager

Business Development 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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