The Exclusive Agency Agreement is a crucial document in New Zealand real estate transactions, used when a property owner wishes to grant exclusive rights to a single real estate agency to market and sell their property. This agreement, governed by New Zealand law including the Real Estate Agents Act 2008, provides the agency with sole rights to market the property for a specified period, typically 90 days. It includes essential details such as property information, commission structures, marketing strategies, and the obligations of both parties. The document is particularly important as it protects both the agent's interests in securing commission and the owner's interests in professional property marketing and sale. It should be used when property owners want dedicated service from a single agency and are willing to commit to an exclusive relationship for the sale process.
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1. Parties: Identifies the property owner (client) and the licensed real estate agency, including their full legal names and contact details
2. Background: Sets out the context of the agreement, including that the owner wishes to sell the property and appoint the agent exclusively
3. Definitions: Defines key terms used throughout the agreement, including 'Exclusive Agency', 'Property', 'Commission', and 'Marketing Period'
4. Appointment and Term: Specifies the exclusive appointment of the agent and the duration of the agreement
5. Property Details: Full description of the property being marketed, including legal description and address
6. Agent's Authority: Outlines what the agent is authorized to do on behalf of the owner
7. Agent's Obligations: Details the services the agent will provide and their responsibilities
8. Owner's Obligations: Specifies the owner's responsibilities and commitments during the agency period
9. Commission: Details the commission structure, rates, and when commission becomes payable
10. Marketing and Advertising: Outlines the agreed marketing strategy and associated costs
11. Termination: Specifies how and when the agreement can be terminated by either party
12. Dispute Resolution: Procedures for resolving any disputes between the parties
13. General Provisions: Standard contract clauses including governing law, notices, and entire agreement
1. Multiple Owners: Additional provisions when the property has multiple owners, specifying joint and several liability
2. GST Provisions: Special provisions if the property owner is GST registered
3. Overseas Investment: Additional requirements if the property may be marketed to overseas buyers
4. Property Access: Specific arrangements for property access if there are tenants or special access requirements
5. Special Conditions: Any unique terms specific to the property or circumstances
6. Conflict of Interest: Provisions for managing potential conflicts of interest if identified
1. Schedule 1: Property Details: Detailed description of the property, including certificates of title, chattels, and any easements or encumbrances
2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, including any sliding scales or special arrangements
3. Schedule 3: Marketing Plan: Comprehensive marketing strategy and budget
4. Schedule 4: Agency Disclosure: Mandatory disclosure statement as required by the Real Estate Agents Act 2008
5. Appendix A: Property Information: Additional property documentation including floor plans, photographs, and relevant certificates
6. Appendix B: Agent's Marketing Examples: Examples of proposed marketing materials and platforms to be used
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Relevant Teams
Legal
Real Estate Sales
Property Management
Compliance
Business Development
Commercial Property
Residential Property
Contract Administration
Risk Management
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Relevant Roles
Real Estate Agent
Property Manager
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Contract Manager
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Sales Director
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Compliance Officer
Branch Manager
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Transaction Coordinator
Real Estate Partner
Property Sales Consultant
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