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Exclusive Buyer Agent Agreement
"I need an Exclusive Buyer Agent Agreement for a Shariah-compliant residential property search in Lahore, Pakistan, with a 6-month exclusivity period starting March 2025 and a commission rate of 2% of the purchase price."
1. Parties: Identification of the buyer (client) and the real estate agent/agency, including full legal names, addresses, and contact details
2. Background: Context of the agreement, establishing the buyer's intention to purchase property and the agent's qualification to provide real estate services
3. Definitions: Key terms used throughout the agreement, including 'Property Requirements', 'Territory', 'Exclusive Period', and 'Commission'
4. Appointment and Scope: Explicit statement of exclusive appointment and detailed scope of agent's services
5. Term and Exclusivity: Duration of the agreement and terms of exclusive representation
6. Agent's Obligations: Comprehensive list of agent's duties, including property search, negotiations, and professional conduct requirements
7. Buyer's Obligations: Buyer's commitments, including providing accurate requirements, maintaining exclusivity, and cooperation
8. Commission Structure: Detailed breakdown of agent's compensation, payment terms, and conditions for commission earning
9. Confidentiality: Obligations regarding confidential information and its handling
10. Termination: Conditions and process for ending the agreement, including notice requirements
11. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and relevant jurisdiction
12. General Provisions: Standard contractual provisions including amendments, notices, and severability
1. Shariah Compliance: Section declaring compliance with Islamic principles, particularly relevant for Muslim clients or Islamic banking requirements
2. Protection Period: Post-termination period during which the agent remains entitled to commission for properties shown
3. Sub-Agency: Terms allowing or prohibiting the appointment of sub-agents
4. Force Majeure: Provisions for unforeseen circumstances affecting contract performance
5. Dispute Resolution: Alternative dispute resolution mechanisms like mediation before litigation
6. Digital Communications: Terms governing electronic communications and digital document validity
1. Schedule 1 - Property Requirements: Detailed specifications of the type of property the buyer is seeking, including location, size, budget, and special requirements
2. Schedule 2 - Commission Structure: Detailed breakdown of commission rates, payment terms, and examples of commission calculations
3. Schedule 3 - Agent's Services: Comprehensive list of specific services to be provided by the agent
4. Appendix A - Required Documents: List of documents required from the buyer for property transactions
5. Appendix B - Code of Conduct: Reference to or copy of applicable real estate agent professional conduct standards
Authors
Real Estate
Residential Property
Commercial Property
Industrial Property
Legal Services
Property Development
Property Investment
Construction
Legal
Real Estate
Property Acquisition
Compliance
Contract Administration
Investment Advisory
Property Management
Transaction Services
Real Estate Agent
Property Consultant
Real Estate Broker
Legal Counsel
Property Lawyer
Real Estate Manager
Investment Advisor
Property Acquisition Manager
Real Estate Transaction Coordinator
Compliance Officer
Contract Administrator
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