Buyer's Agent Agreement Template for New Zealand

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Key Requirements PROMPT example:

Buyer's Agent Agreement

"I need a Buyer's Agent Agreement for a corporate client looking to purchase multiple commercial properties in Auckland, with specific provisions for cross-border transactions and enhanced due diligence services."

Document background
The Buyer's Agent Agreement is a crucial document in New Zealand real estate transactions where a buyer seeks professional representation in property acquisition. This agreement is particularly important in competitive property markets where buyers need dedicated professional assistance to identify, evaluate, and secure suitable properties. The document establishes the formal relationship between the agent and buyer, outlining services, compensation, and obligations under New Zealand law, including compliance with the Real Estate Agents Act 2008. It's commonly used when buyers seek expertise in property selection, market analysis, due diligence, and negotiation support, providing protection for both parties by clearly defining the scope of services and terms of engagement. The agreement is essential for both residential and commercial property transactions, offering clarity on commission structures, exclusivity periods, and professional obligations.
Suggested Sections

1. Parties: Identification of the buyer's agent and the client, including full legal names and contact details

2. Background: Context of the agreement, including the client's intention to purchase property and appointment of the agent

3. Definitions: Key terms used throughout the agreement, including 'Property Requirements', 'Services', 'Commission', and other relevant terms

4. Appointment and Term: Formal appointment of the agent, whether exclusive or non-exclusive, and duration of the agreement

5. Agent's Services: Detailed description of services to be provided, including property search, evaluation, and negotiation assistance

6. Client's Obligations: Client's responsibilities, including providing accurate requirements, timely responses, and necessary documentation

7. Fees and Commission: Detailed fee structure, payment terms, and circumstances when commission becomes payable

8. Confidentiality: Obligations regarding confidential information and privacy requirements

9. Compliance and Disclosures: Regulatory compliance statements and required disclosures under NZ law

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

11. Dispute Resolution: Process for handling disputes between parties

12. General Provisions: Standard legal provisions including governing law, notices, and entire agreement clause

Optional Sections

1. Additional Services: Details of any extra services offered beyond standard buyer's agent services, used when offering premium service packages

2. International Buyer Provisions: Special provisions for overseas buyers, including Overseas Investment Office requirements, used when the client is not a NZ resident

3. Property Management Services: Additional clauses for property management services if the agent will manage the property after purchase, used when combining services

4. Due Diligence Support: Specific provisions about the agent's role in due diligence processes, used when offering extended due diligence support

5. Success Fee Structure: Alternative fee arrangements based on achieving specific outcomes, used when implementing performance-based compensation

6. Multiple Property Provisions: Special terms for clients seeking multiple properties, used when the client plans to purchase more than one property

Suggested Schedules

1. Schedule 1: Fee Schedule: Detailed breakdown of all fees, commissions, and charges

2. Schedule 2: Property Requirements: Detailed specifications of the client's property requirements and preferences

3. Schedule 3: Service Level Details: Comprehensive list of services included in the agreement and service standards

4. Appendix A: Client Identity Verification: AML documentation requirements and verification processes

5. Appendix B: Agency Disclosure: Mandatory disclosure statements required under the Real Estate Agents Act

6. Appendix C: Complaints Process: Detailed information about the complaint handling procedure

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 legal definitions
Clauses
Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Property Investment

Professional Services

Construction

Retail

Hospitality

Industrial

Relevant Teams

Legal

Real Estate

Property Acquisition

Compliance

Property Management

Investment

Operations

Contract Administration

Risk Management

Business Development

Relevant Roles

Real Estate Agent

Property Buyer's Agent

Real Estate Broker

Property Acquisition Manager

Real Estate Consultant

Property Portfolio Manager

Investment Property Specialist

Commercial Property Agent

Real Estate Transaction Manager

Property Advisory Consultant

Legal Counsel

Compliance Officer

Contract Manager

Property 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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