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Buyer Listing Agreement Generator for the USA

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Key Requirements PROMPT example:

Buyer Listing Agreement

"I need a Buyer Listing Agreement for a high-net-worth individual seeking exclusive representation to purchase residential property in Central London, with a 12-month term starting January 2025 and a success fee structure based on the final purchase price."

Document background
The Buyer Listing Agreement is utilized when a property buyer wishes to formally engage an agent to act on their behalf in searching for and identifying suitable properties. This contract type is particularly important in the English and Welsh property market, where professional buyer's agents are increasingly common. The agreement typically includes detailed specifications of the desired property, the agent's scope of authority, fee structures, and the duration of the arrangement. It ensures compliance with the Estate Agents Act 1979 and related legislation while protecting both parties' interests throughout the property search process.
Suggested Sections

1. Parties: Identifies the buyer and agent with full legal names and addresses

2. Background: Outlines the context and purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Services: Details the specific services the agent will provide to the buyer

5. Fees and Payment Terms: Specifies the agent's fees, payment schedule and conditions

6. Duration and Termination: Sets out the agreement term and termination provisions

7. Agent's Obligations: Lists the agent's responsibilities and commitments

8. Buyer's Obligations: Details the buyer's responsibilities and commitments

Optional Sections

1. Exclusivity Provisions: Additional terms used when the buyer agrees to work exclusively with the agent

2. International Property Search: Additional provisions for searching properties abroad when the search includes international properties

3. Additional Services: Terms covering extra services like property management or renovation advice when offered beyond standard search

Suggested Schedules

1. Schedule of Fees: Detailed breakdown of all fees and charges

2. Property Requirements: Detailed specification of the buyer's property requirements

3. Service Level Agreement: Detailed service standards and response times

4. Data Protection Notice: Details of how personal data will be processed and protected

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






















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Industries

Estate Agents Act 1979: Primary legislation governing estate agency work in England and Wales. Covers mandatory disclosure requirements, professional obligations, and regulation of estate agency activities.

Consumer Rights Act 2015: Fundamental consumer protection legislation ensuring fairness in contracts, regulating unfair terms, and establishing transparency requirements in consumer transactions.

Consumer Protection from Unfair Trading Regulations 2008: Regulations protecting consumers from misleading actions and omissions, requiring transparent business practices, and preventing aggressive commercial practices.

Data Protection Act 2018 and UK GDPR: Legislation governing the handling of personal data, including requirements for privacy notices and compliance with data protection principles in business operations.

Money Laundering Regulations 2017: Regulations requiring customer due diligence, identity verification, and proper record-keeping in property transactions to prevent money laundering.

Property Ombudsman Code of Practice: Professional standards and guidelines for property professionals, providing framework for ethical business conduct and dispute resolution.

RICS Professional Standards: Professional standards set by the Royal Institution of Chartered Surveyors, applicable to RICS members and regulated firms in property services.

Competition Act 1998: Legislation ensuring fair competition in markets, particularly relevant for fee structures and business practices in property services.

Financial Services and Markets Act 2000: Regulation of financial services and markets, relevant when providing financial advice in connection with property transactions.

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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