Buyer Broker Agreement Template for Austria

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Key Requirements PROMPT example:

Buyer Broker Agreement

"I need a Buyer Broker Agreement under Austrian law for our investment company seeking to acquire multiple commercial properties in Vienna, with a focus on retail spaces and offices, starting from March 2025, including dual agency provisions and international payment terms."

Document background
The Buyer Broker Agreement is a crucial document in Austrian real estate transactions that formalizes the relationship between a professional real estate broker and a client seeking to purchase property. This agreement is essential when a buyer wishes to engage professional assistance in identifying, evaluating, and acquiring real estate. It is structured to comply with Austrian legislation, particularly the Maklergesetz (Real Estate Broker Act) and, where applicable, the Konsumentenschutzgesetz (Consumer Protection Act). The document specifies the broker's duties, including property search parameters, negotiation support, and professional advice, while establishing clear terms for compensation and service scope. It's particularly important in the Austrian market where broker relationships are strictly regulated and specific legal requirements must be met to ensure enforceability.
Suggested Sections

1. Parties: Identification of the broker and the buyer client, including full legal names, addresses, and registration details for the broker

2. Background: Context of the agreement, including the buyer's intention to purchase property and the broker's professional status

3. Definitions: Key terms used throughout the agreement, including property criteria, territory, and service definitions

4. Scope of Services: Detailed description of the broker's services, including property search, evaluation, and negotiation assistance

5. Broker's Obligations: Specific duties of the broker including loyalty, confidentiality, due diligence, and information obligations under Austrian law

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

7. Exclusivity: Terms regarding whether the agreement is exclusive or non-exclusive

8. Commission Structure: Details of broker's compensation, payment timing, and conditions for commission earning

9. Term and Termination: Duration of the agreement and conditions for termination

10. Confidentiality: Provisions regarding handling of confidential information and data protection

11. Liability and Insurance: Scope of broker's liability and professional insurance coverage

12. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction for disputes

Optional Sections

1. Consumer Protection Provisions: Required when the buyer is a consumer (private individual), including withdrawal rights under KSchG

2. Digital Communications: Required when parties agree to use electronic communication methods, addressing E-Commerce Act requirements

3. Property Search Criteria: Detailed section used when specific property requirements need to be documented in the main agreement

4. Dual Agency Disclosure: Required when the broker may potentially represent both buyer and seller

5. International Considerations: Required when the buyer is foreign or international properties are considered

6. Special Power of Attorney: Optional authorization for broker to act on behalf of buyer in specific circumstances

Suggested Schedules

1. Schedule A - Property Requirements: Detailed specifications of the type of property sought, including location, size, price range, and special requirements

2. Schedule B - Commission Structure: Detailed breakdown of commission calculations, including examples and special circumstances

3. Schedule C - Broker's Services: Comprehensive list of all services included and excluded from the agreement

4. Schedule D - Required Documentation: List of documents required from the buyer and standard forms to be used

5. Appendix 1 - Broker's Credentials: Copies of broker's licenses, registrations, and insurance certificates

6. Appendix 2 - Consumer Information Sheet: Mandatory information sheet for consumer clients under Austrian law

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 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

Property Development

Commercial Property

Residential Property

Retail

Hospitality

Industrial

Office Space

Healthcare

Education

Relevant Teams

Real Estate

Legal

Procurement

Property Management

Facilities

Finance

Business Development

Investment

Compliance

Risk Management

Relevant Roles

Real Estate Broker

Property Acquisition Manager

Real Estate Agent

Legal Counsel

Procurement Manager

Property Investment Manager

Real Estate Investment Advisor

Facility Manager

Corporate Real Estate Manager

Business Development Manager

Chief Financial Officer

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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