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Buyer Representation Agreement Exclusive Template for India

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Key Requirements PROMPT example:

Buyer Representation Agreement Exclusive

"Need a Buyer Representation Agreement Exclusive for a 6-month term starting January 2025, to help our company acquire commercial property in Mumbai's business district, with monthly progress reports and specific provisions for multiple property viewings."

Document background
The Buyer Representation Agreement Exclusive is a crucial document in Indian real estate transactions that formalizes the professional relationship between a property buyer and their chosen real estate agent. This agreement is typically used when a buyer wants dedicated, conflict-free representation in property transactions and is willing to work exclusively with one agent or brokerage firm. It provides comprehensive protection for both parties by clearly defining the scope of services, territorial limits, duration, and compensation structure. The document ensures compliance with Indian real estate regulations, particularly the RERA 2016, and includes essential provisions for confidentiality, dispute resolution, and termination. This type of agreement is especially important in competitive real estate markets where having exclusive professional representation can be advantageous for securing desired properties and negotiating favorable terms.
Suggested Sections

1. Parties: Identification of the buyer (client) and the real estate agent/broker, including full legal names, addresses, and registration details

2. Background: Context of the agreement, including the buyer's intention to purchase property and desire for exclusive representation

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

4. Appointment and Scope: Explicit statement of exclusive appointment and detailed scope of services to be provided by the agent

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

6. Agent's Obligations: Comprehensive list of agent's duties, including property search, negotiations, due diligence, and reporting

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

8. Commission Structure: Details of fees, commission calculation, payment terms, and circumstances for commission eligibility

9. Confidentiality: Obligations regarding confidential information shared during the representation

10. Termination: Grounds for termination, notice requirements, and consequences of early termination

11. Dispute Resolution: Process for handling disputes, including mediation and arbitration procedures

12. Governing Law: Specification of Indian law as governing law and jurisdiction details

Optional Sections

1. Digital Communications: Terms regarding electronic communications and digital signatures, used when parties agree to conduct business electronically

2. International Property Search: Additional terms for international property search services, included when buyer is interested in properties outside India

3. Power of Attorney: Terms regarding agent's authority to act on behalf of the buyer, included when broader powers are granted

4. Special Requirements: Section for unique buyer requirements or circumstances that need special attention

5. Sub-Agency: Terms regarding the appointment of sub-agents, included when agent may need to collaborate with other professionals

6. Force Majeure: Provisions for unforeseen circumstances affecting performance, particularly relevant in uncertain times

Suggested Schedules

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

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

3. Schedule C - Scope of Services: Comprehensive list of services to be provided by the agent

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

5. Appendix 1 - Agent Credentials: Agent's registration details, licenses, and qualifications

6. Appendix 2 - Communication Protocol: Agreed procedures for regular updates, reporting, and communication between parties

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

Commercial Property

Residential Property

Industrial Property

Retail Property

Hospitality

Healthcare

Education

Corporate Services

Relevant Teams

Legal

Compliance

Real Estate

Property Management

Facilities

Risk Management

Corporate Services

Procurement

Business Development

Operations

Relevant Roles

Real Estate Agent

Property Consultant

Real Estate Broker

Legal Counsel

Compliance Officer

Property Acquisition Manager

Real Estate Investment Manager

Corporate Real Estate Manager

Facilities Manager

Business Development Manager

Contract Manager

Risk 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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