Buyer Agent Exclusive Agreement for Hong Kong

Buyer Agent Exclusive Agreement Template for Hong Kong

A legally binding agreement governed by Hong Kong law that establishes an exclusive relationship between a property buyer and a licensed estate agent. The agreement grants the agent sole authority to represent the buyer in property searches and negotiations within Hong Kong's real estate market. It details the scope of services, commission structure, and mutual obligations while ensuring compliance with the Estate Agents Ordinance and related regulations. The document includes comprehensive provisions for property requirements, confidentiality, and termination conditions, protecting both parties' interests throughout the property acquisition process.

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What is a Buyer Agent Exclusive Agreement?

The Buyer Agent Exclusive Agreement is a crucial document in Hong Kong's real estate transactions, used when a property buyer wishes to engage a single estate agent exclusively for their property search and acquisition. This document, regulated under Hong Kong's Estate Agents Ordinance, formalizes the exclusive agency relationship and provides clear guidelines for both parties. It typically includes detailed specifications of the buyer's property requirements, the agent's scope of services, commission arrangements, and the duration of exclusivity. The agreement is particularly important in Hong Kong's competitive property market, where having dedicated representation can be advantageous. It provides protection for both the agent's interests in securing commission and the buyer's interests in receiving focused, professional service.

What sections should be included in a Buyer Agent Exclusive Agreement?

1. Parties: Identification of the buyer (client) and the licensed estate agent, including license numbers 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', 'Exclusive Period', 'Commission', etc.

4. Appointment and Scope: Formal appointment of the agent and detailed scope of services to be provided

5. Exclusivity Terms: Duration and terms of the exclusive agency relationship

6. Agent's Obligations: Detailed responsibilities of the agent, including property search, negotiations, and professional duties

7. Client's Obligations: Client's responsibilities, including providing accurate requirements and maintaining exclusive relationship

8. Commission Structure: Details of the agent's commission, payment terms, and conditions for commission becoming payable

9. Confidentiality: Obligations regarding confidential information and personal data protection

10. Term and Termination: Duration of the agreement and circumstances for early termination

11. General Provisions: Standard clauses including notices, entire agreement, governing law, and jurisdiction

What sections are optional to include in a Buyer Agent Exclusive Agreement?

1. Multiple Properties: Additional terms for when the client is interested in purchasing multiple properties

2. Overseas Properties: Specific terms for handling international property searches and purchases

3. Joint Buyers: Additional provisions when there are multiple buyers acting together

4. Sub-Agency Arrangements: Terms governing the appointment and management of sub-agents if required

5. Special Requirements: Specific client requirements or conditions that need special attention

6. Post-Completion Services: Additional services to be provided after property purchase

7. Language Declaration: For agreements provided in multiple languages, specifying which version prevails

What schedules should be included in a Buyer Agent Exclusive Agreement?

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

2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, payment terms, and circumstances affecting commission

3. Schedule 3: Agent's Services: Comprehensive list of services to be provided by the agent

4. Appendix A: Required Documents: List of documents required from the client for property purchase

5. Appendix B: Agent's Credentials: Copy of agent's license and relevant certifications

6. Appendix C: Compliance Checklist: Estate Agents Authority compliance requirements and declarations

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

Jurisdiction

Hong Kong

Publisher

Genie AI

Document Type

Broker Agreement

Cost

Free to use
Relevant Industries

Real Estate

Property Development

Property Investment

Professional Services

Legal Services

Financial Services

Corporate Services

Residential Property

Commercial Property

Relevant Teams

Legal

Compliance

Real Estate

Property Management

Client Services

Business Development

Contract Administration

Risk Management

Operations

Relevant Roles

Estate Agent

Property Consultant

Real Estate Broker

Legal Counsel

Compliance Officer

Property Manager

Investment Manager

Real Estate Director

Acquisitions Manager

Property Investment Advisor

Contract Manager

Business Development Manager

Client Relations 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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