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Buyer Representation Contract Template for Australia

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Key Requirements PROMPT example:

Buyer Representation Contract

"I need a Buyer Representation Contract for an international client seeking to invest in commercial properties in Sydney, with a budget range of $5-10M AUD, including FIRB approval requirements and multi-property purchase provisions, with the agreement term starting March 1, 2025."

Document background
The Buyer Representation Contract serves as a foundational document in Australian real estate transactions where a buyer seeks professional representation in property acquisition. This document is essential when a prospective property buyer wishes to engage professional assistance in searching for, evaluating, and negotiating the purchase of real estate. The contract addresses key aspects such as the agent's authority, service scope, fee structures, and obligations of both parties, while ensuring compliance with Australian federal and state-specific legislation. It is particularly relevant in competitive property markets where buyers benefit from professional representation, and typically includes detailed provisions for property requirements, market analysis, and negotiation services. The agreement provides legal protection for both the buyer and the agent, establishing clear expectations and responsibilities while adhering to Australian consumer protection and real estate agency laws.
Suggested Sections

1. Parties: Identification of the buyer (client) and the buyer's agent/agency, including full legal names, addresses, and relevant license numbers

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

3. Definitions: Key terms used throughout the agreement, including 'Property Requirements', 'Service Period', 'Agency Fee', etc.

4. Appointment and Authority: Formal appointment of the agent and scope of authority granted by the buyer

5. Service Period: Duration of the agreement, including start date and end date or triggering events

6. Agent's Services and Obligations: Detailed description of services to be provided, including property search, negotiations, and advisory services

7. Client's Obligations: Buyer's responsibilities, including providing accurate information, maintaining communication, and decision-making timeframes

8. Fees and Expenses: Compensation structure, payment terms, and reimbursable expenses

9. Confidentiality: Obligations regarding confidential information and privacy protection

10. Termination: Circumstances and processes for ending the agreement, including notice requirements

11. Dispute Resolution: Process for handling disagreements and conflicts between parties

12. General Provisions: Standard legal clauses including governing law, entire agreement, and amendments

Optional Sections

1. Special Property Requirements: Used when the buyer has specific property criteria or requirements that need detailed documentation

2. International Buyer Provisions: Required for overseas buyers, including FIRB approval requirements and specific compliance obligations

3. Multiple Property Purchase: When the buyer intends to purchase multiple properties under the same agreement

4. Buyer's Representative: When the buyer appoints a representative to act on their behalf, including power of attorney provisions

5. Success Fee Structure: When including performance-based compensation in addition to standard fees

6. Specific Market Conditions: When specific market conditions require special considerations or strategies

7. Team Structure: When multiple agents or team members will be involved in providing services

Suggested Schedules

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

2. Schedule B - Property Requirements: Detailed specifications of the type of property sought, including location, price range, and features

3. Schedule C - Service Deliverables: Comprehensive list of specific services to be provided by the agent

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

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

6. Appendix 2 - Communication Protocol: Agreed communication methods, frequency, and response times

7. Appendix 3 - Privacy Policy: Detailed privacy and data handling policies

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses































Relevant Industries

Real Estate

Property Development

Legal Services

Financial Services

Property Management

Professional Services

Construction

Investment Management

Relevant Teams

Legal

Real Estate

Compliance

Property Acquisitions

Client Relations

Contract Administration

Risk Management

Business Development

Investment Advisory

Relevant Roles

Real Estate Agent

Buyer's Agent

Property Consultant

Real Estate Broker

Legal Counsel

Contracts Manager

Property Manager

Investment Advisor

Real Estate Director

Compliance Officer

Property Acquisition Manager

Client Relations 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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