Buyer Broker Exclusive Agreement Template for New Zealand

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Key Requirements PROMPT example:

Buyer Broker Exclusive Agreement

"I need a Buyer Broker Exclusive Agreement for a 6-month term starting January 2025, covering residential property searches in Auckland's North Shore area, with a maximum purchase budget of NZD 1.2 million and including specific provisions for first-time home buyers."

Document background
The Buyer Broker Exclusive Agreement is a crucial document in New Zealand real estate transactions where a buyer seeks dedicated professional representation in property acquisition. This agreement establishes an exclusive relationship between the buyer and a licensed real estate broker, preventing the buyer from engaging other brokers during the agreement term. It is particularly valuable in competitive property markets where buyers need focused, professional representation to identify and secure suitable properties. The document complies with the Real Estate Agents Act 2008 and includes essential elements such as service scope, compensation terms, territorial coverage, and duration of exclusivity. It's commonly used by both individual and institutional buyers seeking residential or commercial properties in New Zealand, providing clear guidelines for the relationship while ensuring all parties' interests are protected under local law.
Suggested Sections

1. Parties: Identification of the buyer(s) and the licensed real estate broker/agency

2. Background: Context of the agreement and general purpose for engaging the broker's services

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

4. Appointment and Scope: Exclusive appointment of the broker and detailed scope of services to be provided

5. Term and Exclusivity: Duration of the agreement and exclusivity provisions

6. Broker's Obligations: Detailed responsibilities of the broker including property search, negotiations, and professional conduct requirements

7. Client's Obligations: Buyer's responsibilities including providing accurate requirements, maintaining exclusivity, and prompt communication

8. Commission and Fees: Structure and timing of broker compensation, including circumstances requiring payment

9. Confidentiality: Obligations regarding confidential information shared during the engagement

10. Termination: Circumstances and process for ending the agreement

11. General Provisions: Standard contractual provisions including governing law, notices, and entire agreement clause

Optional Sections

1. Multiple Buyers: Additional provisions for when there are multiple buyers acting together

2. International Purchases: Special considerations for overseas buyers, including Overseas Investment Office requirements

3. Auction Participation: Specific terms relating to the broker's representation at auctions

4. Property Management: Additional services if the broker will assist with property management after purchase

5. Due Diligence Services: Extended scope for additional due diligence services beyond standard offering

6. Special Property Types: Additional terms for specific property types like commercial, rural, or development properties

Suggested Schedules

1. Schedule 1: Property Requirements: Detailed criteria for the type of property the buyer is seeking, including location, size, price range, and specific features

2. Schedule 2: Fee Structure: Detailed breakdown of all fees, commissions, and payment terms

3. Schedule 3: Broker's Services: Comprehensive list of services included in the standard offering

4. Appendix A: Client Information Form: Required client information including identification and contact details

5. Appendix B: Agency Disclosure: Mandatory disclosure statement as required by the Real Estate Agents Act 2008

6. Appendix C: Territorial Coverage: Map or description of the geographical area covered by the agreement

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

Property Investment

Professional Services

Legal Services

Relevant Teams

Legal

Real Estate

Compliance

Property Acquisition

Contract Administration

Property Management

Risk Management

Investment

Operations

Client Services

Relevant Roles

Real Estate Broker

Property Buyer's Agent

Real Estate Agent

Property Acquisition Manager

Real Estate Legal Counsel

Property Investment Manager

Real Estate Compliance Officer

Contract Manager

Real Estate Transaction Coordinator

Property Portfolio 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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