Buyer's Agent Agreement for Pakistan

Buyer's Agent Agreement Template for Pakistan

A comprehensive legal agreement governed by Pakistani law that establishes and regulates the relationship between a property buyer and their appointed real estate agent. The document outlines the agent's authority to search for, negotiate, and facilitate property purchases on behalf of the buyer, including detailed terms of service, compensation structures, and mutual obligations. It incorporates requirements from Pakistani contract law, real estate regulations, and relevant provincial statutes, providing a framework for professional representation in property transactions while protecting both parties' interests.

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What is a Buyer's Agent Agreement?

The Buyer's Agent Agreement is a crucial document in Pakistani real estate transactions where a buyer seeks professional representation in property purchases. This agreement becomes necessary when individuals or organizations want dedicated professional assistance in finding and acquiring properties, whether for residential, commercial, or investment purposes. The document comprehensively details the scope of the agent's services, including property search, negotiations, and transaction support, while ensuring compliance with Pakistani legal requirements, including the Contract Act 1872 and relevant provincial real estate regulations. It's particularly important in Pakistan's dynamic real estate market where professional representation can significantly impact transaction outcomes and legal compliance.

What sections should be included in a Buyer's Agent Agreement?

1. Parties: Identification of the buyer (principal) and the agent, 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 'Property Requirements', 'Territory', 'Commission', etc.

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

5. Term of Agreement: Duration of the agency relationship, including start date and end date

6. Agent's Rights and Obligations: Detailed listing of the agent's duties, responsibilities, and authority limits

7. Buyer's Rights and Obligations: Buyer's responsibilities, including providing accurate requirements and cooperating with the agent

8. Compensation: Details of agent's fees, commission structure, and payment terms

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

10. Termination: Circumstances and procedures 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, entire agreement, and severability

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

1. Exclusive Agency: Used when the agent is to be the exclusive representative for the buyer

2. Sub-Agents: Include when the agent may need to appoint sub-agents or collaborators

3. Digital Communications: Include when parties agree to use electronic communications as formal means of interaction

4. Force Majeure: Include for protection against unforeseen circumstances preventing performance

5. Anti-Money Laundering Compliance: Include for high-value transactions or when dealing with international buyers

6. Dispute Resolution: Include when parties want to specify mediation or arbitration before litigation

7. Insurance and Indemnity: Include when specific insurance requirements or indemnification terms are needed

What schedules should be included in a Buyer's Agent Agreement?

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

2. Schedule B - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms

3. Schedule C - Territory: Geographic areas where the agent is authorized to search for properties

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

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

6. Appendix 2 - Service Level Standards: Detailed description of service standards and response times

7. Appendix 3 - Required Documents: List of documents the buyer must provide for property transactions

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
Clauses
Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Legal Services

Construction

Property Investment

Real Estate Advisory

Corporate Services

Relevant Teams

Legal

Real Estate

Compliance

Procurement

Property Management

Corporate Services

Facilities Management

Risk Management

Contract Administration

Business Development

Relevant Roles

Real Estate Agent

Property Consultant

Legal Counsel

Property Buyer

Real Estate Broker

Compliance Officer

Contract Manager

Property Portfolio Manager

Real Estate Investment Manager

Property Acquisition Specialist

Corporate Real Estate Manager

Real Estate 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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