Buyer Representation Agreement for Ireland

Buyer Representation Agreement Template for Ireland

A Buyer Representation Agreement under Irish law is a formal contract that establishes the professional relationship between a property buyer and their chosen estate agent. This document outlines the agent's responsibilities, services to be provided, compensation structure, and the terms under which the agent will represent the buyer's interests in property transactions. It complies with Irish property law, particularly the Property Services (Regulation) Act 2011, and includes necessary consumer protection provisions and PSRA requirements. The agreement serves as a legally binding document that protects both the buyer's and agent's interests while ensuring transparency in the property acquisition process.

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What is a Buyer Representation Agreement?

The Buyer Representation Agreement is a crucial document in Irish property transactions that formalizes the relationship between a property buyer and their chosen estate agent. This agreement is particularly important in Ireland's property market, where it helps establish clear lines of responsibility and authority in property searches and acquisitions. The document typically includes detailed provisions about the scope of services, commission structures, and the agent's obligations under Irish law, particularly the Property Services (Regulation) Act 2011. It's designed to protect both parties' interests while ensuring compliance with Irish property law and consumer protection regulations. The agreement becomes necessary when a buyer wishes to engage professional representation in their property search, whether for residential or commercial purposes, and helps prevent potential conflicts of interest while establishing clear expectations for all parties involved.

What sections should be included in a Buyer Representation Agreement?

1. Parties: Identifies and defines the buyer(s) and the estate agent/agency, including full legal names, addresses, and relevant license numbers

2. Background: Explains the context of the agreement - that the buyer wishes to engage the agent to assist in purchasing property

3. Definitions: Defines key terms used throughout the agreement, including 'Property', 'Services', 'Commission', and 'Term'

4. Appointment and Authority: Formally establishes the agent's appointment and specifies the scope of authority granted by the buyer

5. Services to be Provided: Detailed description of the services the agent will provide, including property search, viewings, negotiations, and advisory services

6. Term of Agreement: Specifies the duration of the agreement, including start date and termination provisions

7. Fees and Commission: Details the fee structure, payment terms, and conditions under which commission becomes payable

8. Agent's Obligations: Lists the agent's duties, responsibilities, and standards of service

9. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate information and cooperation

10. Confidentiality: Addresses the handling of confidential information by both parties

11. Data Protection: Covers GDPR compliance and data handling procedures

12. Termination: Specifies conditions and procedures for ending the agreement

13. Governing Law: Confirms Irish law as governing law and jurisdiction

What sections are optional to include in a Buyer Representation Agreement?

1. Multiple Buyers: Additional provisions when there are multiple buyers acting jointly

2. International Purchases: Special provisions for international buyers or overseas property searches

3. Property Type Restrictions: Specific terms when the search is limited to certain property types

4. Dual Agency Disclosure: Required when the agency might represent both buyer and seller in some transactions

5. Investment Property Terms: Additional terms for buyers seeking investment properties

6. Power of Attorney: Provisions for cases where the buyer grants specific powers of attorney to the agent

7. Anti-Money Laundering: Enhanced AML provisions for high-value transactions or international buyers

What schedules should be included in a Buyer Representation Agreement?

1. Schedule 1 - Service Details: Detailed breakdown of specific services included in the agreement

2. Schedule 2 - Fee Structure: Detailed fee calculations, commission rates, and payment terms

3. Schedule 3 - Property Requirements: Buyer's specific requirements for the property search

4. Schedule 4 - Excluded Properties: List of properties already viewed or excluded from the agreement

5. Appendix A - Agent's Credentials: Copies of relevant licenses and registrations

6. Appendix B - Client Information Form: Buyer's details and requirements questionnaire

7. Appendix C - PSRA Disclosure: Mandatory disclosures required by the Property Services Regulatory Authority

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

Ireland

Publisher

Genie AI

Document Type

Agency Agreement

Cost

Free to use
Relevant Industries

Real Estate

Property Development

Legal Services

Financial Services

Property Investment

Construction

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Compliance

Property Services

Acquisitions

Investment

Risk Management

Client Services

Relevant Roles

Estate Agent

Property Buyer

Real Estate Lawyer

Property Services Manager

Compliance Officer

Property Consultant

Real Estate Broker

Investment Manager

Property Portfolio Manager

Legal Counsel

Real Estate Director

Acquisition 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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