Buyer Broker Exclusive Agreement for Pakistan

Buyer Broker Exclusive Agreement Template for Pakistan

A legally binding agreement under Pakistani law that establishes an exclusive relationship between a property buyer and a real estate broker, whereby the broker is granted the sole right to represent the buyer in property transactions within a specified territory and time period. The agreement details the broker's obligations to search for and present suitable properties, negotiate on the buyer's behalf, and provide professional advice, while the buyer commits to working exclusively with the appointed broker. The document includes comprehensive terms regarding commission structure, confidentiality, and termination provisions, all compliant with Pakistani contract law and real estate regulations.

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What is a Buyer Broker Exclusive Agreement?

The Buyer Broker Exclusive Agreement is a crucial document in Pakistani real estate transactions that formalizes the professional relationship between a property buyer and their chosen real estate broker. This agreement is typically used when a buyer wants dedicated, professional representation in their property search and acquisition process, ensuring their interests are protected through exclusive professional representation. The document encompasses essential elements required under Pakistani law, including the scope of the broker's services, territory coverage, duration of exclusivity, commission structures, and the obligations of both parties. It provides legal protection for brokers investing significant time and resources in property searches while ensuring buyers receive committed, undivided professional service. The agreement is particularly relevant in major Pakistani urban centers where real estate transactions are becoming increasingly complex and professional representation is essential.

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

1. Parties: Identification of the buyer and the broker/brokerage firm with complete details

2. Background: Context of the agreement and the buyer's intention to engage the broker

3. Definitions: Key terms used throughout the agreement including 'Property Requirements', 'Territory', 'Exclusive Period', and 'Commission'

4. Appointment and Scope: Exclusive appointment of the broker and detailed scope of services to be provided

5. Term of Agreement: Duration of the exclusive relationship including start and end dates

6. Broker's Rights and Obligations: Detailed listing of broker's duties, responsibilities, and rights

7. Buyer's Rights and Obligations: Detailed listing of buyer's duties, responsibilities, and rights

8. Commission Structure: Details of broker's compensation, payment terms, and circumstances triggering commission payment

9. Confidentiality: Obligations regarding confidential information shared during the relationship

10. Termination: Grounds for termination and the process for ending the agreement

11. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and jurisdiction for disputes

12. General Provisions: Standard clauses including notices, amendments, and entire agreement provisions

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

1. Protection Period: Used when the parties want to specify a period after termination during which the broker remains entitled to commission

2. Multiple Brokers Coordination: Include when the buyer may work with other brokers in non-competing territories

3. Force Majeure: Include to address circumstances preventing performance due to unforeseen events

4. Digital Communication: Include when parties agree to use electronic means for official communications

5. Special Market Conditions: Add when specific market conditions require special arrangements or considerations

6. Insurance Requirements: Include when specific insurance coverage is required from either party

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

1. Schedule A - Property Requirements: Detailed specifications of the type of property the buyer is seeking

2. Schedule B - Territory: Geographical area covered by the exclusive agreement

3. Schedule C - Commission Structure: Detailed breakdown of commission calculations and payment terms

4. Schedule D - Broker's Services: Comprehensive list of services to be provided by the broker

5. Appendix 1 - Required Documents: List of documents required from the buyer for property transactions

6. Appendix 2 - Communication Protocol: Agreed procedures for regular communications and updates

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

Pakistan

Publisher

Genie AI

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions
Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Real Estate Investment

Property Management

Construction

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Property Acquisition

Contract Administration

Business Development

Investment

Risk Management

Relevant Roles

Real Estate Broker

Property Consultant

Real Estate Agent

Legal Counsel

Contract Manager

Property Buyer Representative

Real Estate Investment Manager

Property Acquisition Manager

Real Estate Transaction Coordinator

Compliance Officer

Business Development Manager

Real Estate 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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