The Non-Exclusive Buyer Representation Agreement is a crucial document in Nigerian real estate transactions where buyers wish to maintain flexibility in their property search by working with multiple agents. This agreement is commonly used in both residential and commercial property transactions throughout Nigeria, providing a clear framework for the agent-buyer relationship while protecting both parties' interests. It outlines the agent's services, compensation structure, and duties while explicitly stating the non-exclusive nature of the arrangement. The document ensures compliance with Nigerian real estate regulations, contract law, and consumer protection requirements while facilitating professional property search and acquisition services. It's particularly relevant when buyers want to maximize their property search options without being bound to a single agent.
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1. Parties: Identifies and provides full details of the buyer and the real estate agent/agency
2. Background: Explains the context of the agreement and the buyer's intention to engage the agent's services
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Services: Details the specific services the agent will provide to the buyer
5. Non-Exclusive Appointment: Clearly states the non-exclusive nature of the relationship and the buyer's right to work with other agents
6. Agent's Obligations: Lists all duties and responsibilities of the agent
7. Buyer's Obligations: Outlines the buyer's responsibilities and commitments
8. Commission Structure: Details the agent's compensation terms and conditions
9. Term and Termination: Specifies the agreement duration and conditions for termination
10. Confidentiality: Addresses the handling of confidential information
11. Governing Law: Specifies Nigerian law as governing law and relevant jurisdiction
12. Dispute Resolution: Outlines the process for resolving any disputes
13. General Provisions: Includes standard contractual provisions like notices, amendments, and severability
1. Protected Properties: Used when specific properties already identified by the agent need to be listed and protected for commission purposes
2. Dual Agency Provisions: Include when the agency allows for potential dual agency situations
3. International Buyer Provisions: Add for non-Nigerian buyers to address specific requirements and considerations
4. Anti-Money Laundering Compliance: Include detailed AML provisions for high-value transactions or when working with corporate buyers
5. Property Type Specifications: Add when the buyer is looking for specific types of properties with unique requirements
6. Market Reports and Analysis: Include when the agent will provide regular market analysis as part of the service
1. Schedule A - Service Details: Detailed breakdown of all services to be provided by the agent
2. Schedule B - Commission Structure: Detailed commission calculations and payment terms
3. Schedule C - Buyer's Requirements: Specific details of the type of property the buyer is seeking
4. Appendix 1 - Agent's Credentials: Copies of agent's licenses and professional certifications
5. Appendix 2 - Required Documentation: List of documents required from the buyer for compliance purposes
6. Appendix 3 - Agency Disclosure Form: Standard form explaining the nature of the agency relationship
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