Real Estate Agent Buyer Agreement

Real Estate Agent Buyer Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Real Estate Agent Buyer Agreement for a Dubai-based exclusive arrangement with a six-month term starting January 2025, focusing on luxury residential properties with a budget range of 5-10 million AED, including provisions for virtual viewings as I'm an international buyer."

Document background

The Real Estate Agent Buyer Agreement is a crucial document in UAE property transactions, designed to protect both the agent's and buyer's interests while ensuring compliance with local regulations. This agreement is essential when a property buyer seeks professional assistance in identifying, evaluating, and purchasing real estate in the UAE. It becomes particularly relevant in markets like Dubai and Abu Dhabi, where specific regulatory frameworks govern real estate transactions. The document typically includes detailed specifications of desired properties, commission structures, service scope, and obligations of all parties involved. It must comply with UAE federal laws and RERA regulations, making it a legally binding instrument that facilitates transparent and secure property transactions while clearly defining the professional relationship between the agent and buyer.

Suggested Sections

1. Parties: Identification of the Agent and the Buyer, including license numbers, registration details, and contact information

2. Background: Context of the agreement, including the Buyer's intention to purchase property and the Agent's qualifications and RERA registration

3. Definitions: Key terms used throughout the agreement, including specific UAE real estate terminology

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

5. Agent's Obligations: Specific duties and responsibilities of the agent, including compliance with UAE real estate laws

6. Buyer's Obligations: Responsibilities and commitments of the buyer, including provision of necessary information and cooperation

7. Property Requirements: Detailed criteria for the property being sought, including location, size, price range, and specific features

8. Commission Structure: Details of the agent's fees, payment terms, and conditions for commission eligibility

9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated

10. Confidentiality: Obligations regarding confidential information shared during the property search process

11. Compliance with Laws: Specific provisions ensuring compliance with UAE real estate laws and RERA regulations

12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution

13. Notices: Process and requirements for formal communications between parties

14. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability

Optional Sections

1. Exclusivity: Terms establishing whether the relationship is exclusive or non-exclusive, used when parties want to specify exclusivity arrangements

2. International Property Considerations: Additional provisions for international buyers or overseas property interests

3. Language Requirements: Provisions regarding translation and language precedence, used when dealing with non-Arabic speaking clients

4. Property Management Services: Additional terms for post-purchase property management, if the agent offers such services

5. Virtual Viewing Provisions: Terms related to virtual property viewings and remote transactions, relevant for overseas buyers or during restrictions

6. Power of Attorney: Provisions regarding the use of power of attorney in property transactions, when applicable

7. Islamic Finance Compliance: Specific provisions ensuring compliance with Islamic finance principles, when required by the buyer

Suggested Schedules

1. Schedule 1: Agent's Fee Structure: Detailed breakdown of all fees, commissions, and payment terms

2. Schedule 2: Property Requirements Specification: Detailed list of property requirements and preferences

3. Schedule 3: Agent's License and Registration Details: Copies of agent's RERA license and other relevant certifications

4. Schedule 4: Services Scope Detail: Comprehensive list of services included in the agreement

5. Schedule 5: Required Documentation: List of documents required from the buyer for property transactions

6. Appendix A: RERA Standard Forms: Relevant RERA forms and standard documents required for UAE real estate transactions

7. Appendix B: Property Viewing Record: Template for recording properties viewed and buyer feedback

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Construction

Financial Services

Legal Services

Investment Management

Property Management

Hospitality

Retail

Commercial Property

Relevant Teams

Legal

Real Estate Operations

Sales

Compliance

Business Development

Client Relations

Contract Administration

Property Management

Investment Advisory

Risk Management

Relevant Roles

Real Estate Agent

Property Broker

Real Estate Manager

Legal Counsel

Compliance Officer

Property Consultant

Sales Director

Business Development Manager

Contract Manager

Real Estate Operations Manager

Property Acquisition Specialist

Investment Advisor

Real Estate Transaction Coordinator

Client Relations Manager

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Authors

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