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Non Exclusive Buyer Broker Agreement Template for South Africa

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Key Requirements PROMPT example:

Non Exclusive Buyer Broker Agreement

"I need a Non-Exclusive Buyer Broker Agreement for a foreign client looking to purchase commercial property in Cape Town, with specific provisions for FICA compliance and international funds transfer, to be effective from March 2025."

Document background
The Non-Exclusive Buyer Broker Agreement is a crucial document in South African real estate transactions, designed to formalize the relationship between a property broker and a buyer while maintaining flexibility in the property search process. This agreement is typically used when a buyer wants to retain the services of a real estate professional while maintaining the freedom to work with other brokers or search for properties independently. The document outlines the broker's services, compensation structure, and professional obligations under the Property Practitioners Act 22 of 2019 and related South African legislation. It includes provisions for property search parameters, commission structures, and the duration of the relationship, while ensuring compliance with local real estate regulations and consumer protection laws. This type of agreement is particularly useful in competitive property markets where buyers want to maximize their property search options while still having professional representation.
Suggested Sections

1. Parties: Identification of the broker/agency and the buyer client, including full legal names and contact details

2. Background: Context of the agreement, establishing the buyer's intention to acquire property and the broker's role in assisting with the search and acquisition

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Commission', 'Exclusive Period' (if any), and 'Territory'

4. Appointment and Scope of Services: Details of the broker's appointment and comprehensive list of services to be provided

5. Duration: Term of the agreement, including commencement date and termination provisions

6. Broker's Obligations: Detailed responsibilities of the broker, including property search, negotiations, and professional conduct requirements

7. Client's Obligations: Buyer's responsibilities, including providing accurate information and cooperating with the broker

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

9. Confidentiality: Provisions for handling confidential information and compliance with POPIA

10. Professional Conduct: Commitment to comply with the Property Practitioners Act and relevant regulations

11. Termination: Circumstances and procedures for ending the agreement

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

Optional Sections

1. Property Requirements: Detailed specifications of the type of property the client is seeking - used when the client has specific requirements

2. Exclusive Period: Optional clause defining a specific period where the broker has preferential rights - used when parties agree to a hybrid arrangement

3. Digital Communications: Provisions for electronic communications and virtual viewings - relevant when parties agree to conduct business electronically

4. Multiple Properties: Provisions for handling multiple property acquisitions - used when client may purchase more than one property

5. Foreign Investment: Special provisions for foreign buyers - used when the client is a foreign national

6. Property Management: Additional services for property management after purchase - used when broker offers post-purchase services

Suggested Schedules

1. Schedule A - Fee Structure: Detailed breakdown of all applicable fees, commission rates, and payment terms

2. Schedule B - Property Requirements: Detailed list of client's property preferences, requirements, and deal-breakers

3. Schedule C - Excluded Properties: List of properties already viewed or specifically excluded from the agreement

4. Schedule D - Broker's Services: Comprehensive list of specific services included in the agreement

5. Appendix 1 - Required Documentation: List of documents required from the client for FICA compliance and property transactions

6. Appendix 2 - Agency Disclosure: Mandatory disclosures required under the Property Practitioners Act

Authors

Alex Denne

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

Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Residential Property

Commercial Property

Property Development

Property Investment

Professional Services

Legal Services

Relevant Teams

Real Estate

Legal

Compliance

Business Development

Property Management

Contract Administration

Sales

Client Relations

Risk Management

Operations

Relevant Roles

Real Estate Broker

Property Practitioner

Real Estate Agent

Property Consultant

Legal Counsel

Compliance Officer

Real Estate Manager

Property Investment Advisor

Business Development Manager

Contract Administrator

Real Estate Partner

Property Portfolio 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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