Exclusive Buyer Agent Agreement Template for South Africa

The Exclusive Buyer Agent Agreement is a crucial document in South African real estate transactions that formalizes the professional relationship between a property buyer and their chosen real estate agent. This agreement becomes necessary when a buyer seeks dedicated representation in their property search and wishes to work with a single agent exclusively. The document, governed by South African property law and regulated by the Property Practitioners Act, ensures the agent's commitment to finding suitable properties while protecting both parties' interests. It typically includes detailed specifications of desired properties, territory coverage, duration of exclusivity, commission structures, and service expectations. The agreement is particularly important in competitive property markets where having dedicated representation can provide advantages in property search and negotiations.

1. Parties: Identification of the buyer and the real estate agent/agency, including full legal names and contact details

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

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

4. Appointment and Authority: Formal appointment of the agent as exclusive buyer's agent and scope of authority granted

5. Duration: Term of the agreement, including start date and termination conditions

6. Agent's Obligations: Detailed listing of services to be provided by the agent, including property search, negotiations, and due diligence

7. Buyer's Obligations: Buyer's commitments, including providing accurate requirements, maintaining exclusivity, and cooperation

8. Commission Structure: Details of the agent's fees, payment terms, and conditions for commission earning

9. Confidentiality: Obligations regarding confidential information shared during the agency relationship

10. Professional Conduct: Agent's commitment to comply with relevant laws and professional standards

11. Termination: Circumstances and procedures for ending the agreement

12. General Provisions: Standard clauses including notices, entire agreement, governing law, and dispute resolution