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Non Exclusive Buyer Representation Agreement
"I need a Non-Exclusive Buyer Representation Agreement for a UK-based investment company looking to purchase commercial properties in Cape Town, with a focus on retail spaces valued between R10-50 million, starting from March 2025."
1. Parties: Identification of the buyer (client) and the real estate agent/agency, including full legal names, registration numbers, and contact details
2. Background: Context of the agreement, explaining the buyer's intention to purchase property and the agent's role in assisting with the search
3. Definitions: Key terms used in the agreement, including 'Property', 'Territory', 'Commission', 'Effective Period', and other relevant terms
4. Appointment and Scope: Details of the agent's appointment, emphasizing the non-exclusive nature, and defining the geographical area and property types covered
5. Duration: Term of the agreement, including start date, end date, and any renewal provisions
6. Agent's Services and Obligations: Comprehensive list of services the agent will provide, including property search, viewings, negotiations, and professional advice
7. Buyer's Obligations: Client's responsibilities, including providing accurate information, maintaining communication, and acting in good faith
8. Commission Structure: Details of any fees or commission payable, including payment terms and conditions
9. Non-Exclusive Arrangement: Explicit clarification that the buyer may work with other agents and direct sellers
10. Confidentiality: Obligations regarding confidential information and compliance with POPIA
11. Termination: Circumstances and procedures for ending the agreement
12. General Provisions: Standard clauses including notices, entire agreement, governing law, and dispute resolution
1. Property Requirements: Detailed specification of the buyer's property requirements - used when the buyer has specific criteria
2. Dual Agency Disclosure: Required if the agency might represent both buyer and seller in a transaction
3. International Buyers Clause: Additional provisions for foreign buyers, including Exchange Control Regulations compliance
4. Property Practitioner's Disclosure: Specific disclosures required under the Property Practitioners Act - used when applicable
5. Digital Communication Consent: Specific provisions for electronic communications and virtual services - used when digital services are primary
6. COVID-19 Protocols: Special arrangements and protocols during pandemic conditions - used when relevant
7. Referral arrangements: Terms regarding referrals to other service providers - used when the agency has preferred partners
1. Schedule A - Service Fee Structure: Detailed breakdown of all applicable fees, commissions, and payment terms
2. Schedule B - Property Requirements Checklist: Detailed list of buyer's property requirements and preferences
3. Schedule C - Agency Disclosure Form: Standard form required by South African real estate regulations
4. Schedule D - Buyer's Proof of Funds: Template for documenting buyer's financial capability
5. Appendix 1 - FICA Requirements: List of required documents for FICA compliance
6. Appendix 2 - Property Viewing Record: Template for recording properties viewed with the agent
Authors
Real Estate
Property Development
Property Investment
Legal Services
Financial Services
Construction
Housing Development
Commercial Property
Residential Property
Legal
Real Estate Operations
Compliance
Sales
Business Development
Property Management
Contract Administration
Customer Relations
Risk Management
Document Control
Real Estate Agent
Property Practitioner
Real Estate Broker
Property Consultant
Legal Counsel
Compliance Officer
Real Estate Principal
Property Manager
Sales Director
Contracts Manager
Business Development Manager
Property Investment Advisor
Agency Principal
Real Estate Operations Manager
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