Buyer Representation Agreement Exclusive for Pakistan

Buyer Representation Agreement Exclusive Template for Pakistan

A legally binding agreement under Pakistani law that establishes an exclusive relationship between a buyer and a real estate agent/agency for property acquisition services. The document outlines the agent's exclusive right to represent the buyer in property transactions within a specified period and territory, detailing the scope of services, commission structure, and mutual obligations. It incorporates requirements from Pakistani contract law, real estate regulations, and relevant provincial statutes, providing protection for both parties while ensuring compliance with local legal requirements and market practices.

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What is a Buyer Representation Agreement Exclusive?

The Buyer Representation Agreement (Exclusive) is a crucial document in Pakistani real estate transactions, designed to protect both the buyer's and agent's interests while establishing clear parameters for their professional relationship. This agreement is typically used when a buyer seeks dedicated professional assistance in property acquisition and wants to work exclusively with one agent or agency. It outlines the agent's obligations to locate suitable properties, negotiate terms, and provide professional advice, while securing their right to compensation for services rendered. The document must comply with Pakistani contract law, including the Contract Act 1872 and relevant provincial real estate regulations. It is particularly important in major urban markets like Karachi, Lahore, and Islamabad, where property transactions are complex and require professional expertise. The agreement includes specific provisions for commission structures, service scope, and exclusivity periods, all tailored to align with local market practices and legal requirements.

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

1. Parties: Identification of the buyer and the real estate agent/agency, including full legal names, addresses, and contact details

2. Background: Context of the agreement, including the buyer's intention to purchase property and the agent's qualifications

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

4. Appointment and Scope: Establishes the exclusive appointment of the agent and defines the geographic area and property types covered

5. Term and Exclusivity: Duration of the agreement and the exclusive nature of the representation

6. Agent's Services and Obligations: Detailed listing of services the agent will provide, including property search, negotiations, and advisory services

7. Buyer's Obligations: Buyer's commitments, including providing accurate requirements, maintaining exclusivity, and prompt communication

8. Commission Structure: Details of the agent's compensation, payment terms, and circumstances requiring payment

9. Confidentiality: Provisions for handling confidential information shared between parties

10. Termination: Conditions and procedures for ending the agreement, including notice requirements

11. Governing Law: Specification of Pakistani law as governing law and relevant jurisdiction

12. Signatures: Execution block with date and signatures of all parties

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

1. Protection Period: Defines a period after agreement termination during which the agent remains entitled to commission - include when standard in the local market

2. Digital Services: Specific provisions for online property searches and virtual services - include when digital services are a significant part of the service offering

3. International Property Search: Additional terms for international property searches - include when the buyer is interested in overseas properties

4. Multiple Buyers: Special provisions for multiple buyers acting together - include when the buyer is a group or family unit

5. Force Majeure: Provisions for unforeseen circumstances preventing performance - include in regions with political or economic instability

6. Language: Specification of controlling language - include when dealing with international buyers or multiple language versions

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

1. Schedule A - Property Requirements: Detailed specifications of the type of property sought, including location preferences, size, budget, and essential features

2. Schedule B - Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms

3. Schedule C - Services Description: Comprehensive list of services included in the representation agreement

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

5. Appendix 1 - Agent Credentials: Copies of agent's licenses, certifications, and professional memberships

6. Appendix 2 - Required Documents: List of documents the buyer needs to provide for property purchase

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 Industries

Real Estate

Property Development

Legal Services

Financial Services

Construction

Investment

Corporate Services

Residential Property

Commercial Property

Property Management

Relevant Teams

Legal

Real Estate

Sales

Compliance

Business Development

Client Relations

Property Acquisitions

Contract Administration

Risk Management

Operations

Relevant Roles

Real Estate Agent

Property Consultant

Real Estate Broker

Legal Counsel

Property Advisor

Real Estate Manager

Compliance Officer

Contract Manager

Business Development Manager

Sales Director

Property Acquisition Specialist

Real Estate Investment Advisor

Client Relations Manager

Transaction Coordinator

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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