Buyer Agency Agreement Template for New Zealand

The Buyer Agency Agreement is a crucial document in New Zealand real estate transactions where a buyer seeks professional representation in the property purchase process. This agreement is used when a buyer wants to engage a licensed real estate agent to act exclusively on their behalf in searching for, evaluating, and negotiating the purchase of property. The document ensures compliance with New Zealand's Real Estate Agents Act 2008 and related regulations, providing a clear framework for the agent-client relationship. It typically includes detailed provisions about the scope of services, commission structures, confidentiality obligations, and the term of representation. This agreement is particularly important as it establishes the legal basis for the agent's authority to act on the buyer's behalf and protects both parties' interests throughout the property purchase process.

1. Parties: Identifies and provides full details of the buyer client and the real estate agency, including license numbers

2. Background: Explains the context of the agreement - that the buyer seeks to engage the agent to assist in purchasing property

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Scope: Formally appoints the agent and defines the specific services to be provided

5. Term of Agreement: Specifies the duration of the agreement and any renewal provisions

6. Agent's Obligations: Details the agent's duties, including property search, negotiation, and professional conduct requirements

7. Client's Obligations: Outlines the buyer's responsibilities, including providing accurate information and maintaining communication

8. Fees and Expenses: Specifies the agent's commission structure, payment terms, and reimbursable expenses

9. Confidentiality: Addresses the handling of confidential information by both parties

10. Termination: Sets out circumstances and processes for ending the agreement

11. Dispute Resolution: Establishes procedures for handling disagreements between parties

12. General Provisions: Contains standard legal clauses including governing law, notices, and entire agreement