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Buyers Exclusive Agency Contract for Pakistan

Buyers Exclusive Agency Contract Template for Pakistan

A legally binding agreement governed by Pakistani law that establishes an exclusive relationship between a buyer and a real estate agent. The contract grants the agent sole authority to represent the buyer in property searches and negotiations within a specified territory and time period. The document outlines the agent's duties, compensation structure, and the buyer's obligations, while ensuring compliance with Pakistani contract law, real estate regulations, and registration requirements. It includes provisions for termination, confidentiality, and dispute resolution, tailored to the Pakistani legal framework.

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What is a Buyers Exclusive Agency Contract?

The Buyer's Exclusive Agency Contract is a crucial document in Pakistani real estate transactions, used when a property buyer wishes to secure dedicated representation from a real estate agent. This agreement, governed by Pakistani law including the Contract Act 1872 and relevant real estate regulations, establishes the agent as the buyer's sole representative in property matters. It's particularly important in competitive real estate markets where buyers need focused, committed representation. The document typically includes detailed property requirements, commission structures, territory definitions, and service expectations, while ensuring compliance with local registration requirements and stamp duty obligations. It protects both parties' interests by clearly defining the scope of services, exclusivity period, and compensation terms, while incorporating necessary provisions for Islamic law compliance where required.

What sections should be included in a Buyers Exclusive Agency Contract?

1. Parties: Identification of the buyer (principal) and the real estate agent (agent), including full legal names, addresses, and contact details

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

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

4. Appointment and Scope: Formal appointment of the agent and detailed description of services to be provided, emphasizing the exclusive nature of the arrangement

5. Term and Termination: Duration of the exclusive agency agreement and conditions for termination

6. Agent's Obligations: Detailed list of agent's duties, including property search, negotiations, and reporting requirements

7. Buyer's Obligations: Buyer's commitments, including providing accurate requirements, cooperating with the agent, and maintaining exclusivity

8. Commission Structure: Details of agent's compensation, including rate, calculation method, and payment terms

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

10. Representations and Warranties: Standard declarations by both parties about their capacity and authority to enter into the agreement

11. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and jurisdiction for dispute resolution

What sections are optional to include in a Buyers Exclusive Agency Contract?

1. Post-Termination Obligations: Include when there's a need to protect the agent's interests after agreement termination, particularly regarding commission for identified properties

2. Force Majeure: Include in regions prone to political or economic instability, defining circumstances that excuse performance

3. Islamic Law Compliance: Include when parties specifically require compliance with Islamic banking and finance principles

4. Anti-Money Laundering: Include for high-value transactions or when dealing with international buyers

5. Dispute Resolution: Include detailed arbitration or mediation procedures when parties prefer alternative dispute resolution

6. Sub-Agents: Include when the agent may need to appoint sub-agents to assist in property search

7. Digital Communications: Include when parties agree to use electronic means for official communications and notifications

What schedules should be included in a Buyers Exclusive Agency Contract?

1. Schedule 1 - Property Requirements: Detailed specifications of the type of property the buyer is seeking, including location, size, budget, and other requirements

2. Schedule 2 - Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms

3. Schedule 3 - Territory: Geographic areas where the agent has exclusive rights to represent the buyer

4. Schedule 4 - Required Documents: List of documents the buyer must provide for property purchase and agent verification

5. Appendix A - Agent's Credentials: Agent's professional licenses, certifications, and registration details

6. Appendix B - Service Level Agreement: Detailed description of service standards and response times expected from the agent

Authors

Alex Denne

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

Jurisdiction

Pakistan

Publisher

Ƶ

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Property Development

Construction

Legal Services

Professional Services

Banking & Finance

Investment & Asset Management

Relevant Teams

Legal

Compliance

Real Estate

Property Management

Risk Management

Contracts Administration

Business Development

Investment Advisory

Operations

Documentation

Relevant Roles

Real Estate Agent

Property Consultant

Legal Counsel

Compliance Officer

Property Manager

Real Estate Broker

Contract Manager

Real Estate Investment Advisor

Property Acquisition Manager

Real Estate Portfolio Manager

Legal Director

Risk 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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