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Buyer Commission Agreement
"I need a Hong Kong Buyer Commission Agreement for my real estate agency to represent a high-net-worth individual searching for luxury residential properties, with an exclusive 6-month term starting January 1, 2025, and a tiered commission structure based on final purchase price."
1. Parties: Identification of the estate agent/agency and the buyer client, including full legal names and addresses
2. Background: Context of the agreement, including the buyer's intention to purchase property and appointment of the agent
3. Definitions: Key terms used in the agreement, including 'Property Requirements', 'Commission', 'Exclusive Period' if applicable
4. Appointment and Scope: Terms of agent appointment and specific services to be provided
5. Duration: Term of the agreement, including start date and termination provisions
6. Agent's Obligations: Detailed listing of agent's duties, responsibilities, and service commitments
7. Client's Obligations: Buyer's responsibilities, including providing accurate requirements and cooperating with the agent
8. Commission Structure: Commission rate, calculation method, and payment terms
9. Payment Terms: Specific conditions for when commission becomes payable and payment mechanics
10. Termination: Grounds for termination and consequences thereof
11. Confidentiality: Obligations regarding confidential information and personal data protection
12. General Provisions: Standard contractual terms including governing law, notices, and entire agreement
1. Exclusivity: Terms making the appointment exclusive, used when the agreement is exclusive rather than non-exclusive
2. Property Requirements: Detailed section specifying buyer's property requirements, used for more complex searches
3. Anti-Money Laundering: Additional compliance terms, used for high-value transactions or when dealing with corporate buyers
4. Dual Agency Disclosure: Required when the agent may potentially represent both buyer and seller
5. Dispute Resolution: Detailed arbitration or mediation procedures, used in higher-value agreements
6. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in uncertain market conditions
1. Schedule 1 - Property Requirements: Detailed specifications of the type of property sought, including location, size, price range
2. Schedule 2 - Commission Calculation Examples: Examples illustrating how commission will be calculated in different scenarios
3. Schedule 3 - Required Documents: List of documents required from the buyer for compliance and verification
4. Appendix A - Estate Agent's License: Copy of the estate agent's license as required by Hong Kong regulations
5. Appendix B - Standard Disclosures: Mandatory disclosures required under the Estate Agents Ordinance
Authors
Real Estate
Property Development
Property Investment
Residential Property
Commercial Property
Real Estate Agency Services
Property Management
Professional Services
Financial Services
Legal
Compliance
Real Estate
Sales
Business Development
Risk Management
Operations
Finance
Contract Administration
Estate Agent
Property Consultant
Real Estate Broker
Compliance Officer
Legal Counsel
Property Acquisition Manager
Real Estate Director
Contracts Manager
Business Development Manager
Sales Director
Property Investment Manager
Risk Management Officer
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