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Business Broker Listing Agreement Template for New Zealand

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Key Requirements PROMPT example:

Business Broker Listing Agreement

"I need a Business Broker Listing Agreement for my Auckland-based technology consulting firm, with exclusive listing rights for 6 months starting March 2025, including specific provisions for protecting our client database and intellectual property."

Document background
The Business Broker Listing Agreement is a crucial document in New Zealand's business sale landscape, designed to formalize the engagement between business brokers and owners wanting to sell their businesses. This agreement, regulated under the Real Estate Agents Act 2008 and related legislation, serves as the foundational document that outlines the broker's authority to market and negotiate the sale of a business. It typically includes detailed provisions for commission structures, marketing strategies, confidentiality obligations, and the specific services to be provided by the broker. The document is essential for protecting both parties' interests and ensuring compliance with New Zealand's legal requirements for business sale transactions. Business owners should implement this agreement before commencing any formal business sale process through a broker, as it establishes clear expectations and legal obligations for all parties involved.
Suggested Sections

1. Parties: Identification of the business broker and the business owner(s), including full legal names and contact details

2. Background: Context of the agreement, including brief description of the business and the owner's intention to sell

3. Definitions: Key terms used throughout the agreement, including 'Business', 'Listing Period', 'Commission', 'Qualifying Transaction'

4. Appointment and Authority: Formal appointment of the broker and scope of authority granted by the business owner

5. Listing Period: Duration of the agreement, including start date and end date, and any renewal provisions

6. Broker's Services and Obligations: Detailed description of services to be provided by the broker, including marketing, buyer screening, and negotiation assistance

7. Owner's Obligations: Business owner's responsibilities, including providing accurate information and maintaining business operations

8. Commission Structure: Detailed breakdown of commission rates, payment terms, and qualifying transactions

9. Confidentiality: Obligations regarding confidential information and its handling by all parties

10. Marketing Authorization: Permissions and restrictions regarding advertising and promotion of the business

11. Warranties and Representations: Statements and guarantees made by the business owner regarding the business

12. Termination: Circumstances under which the agreement can be terminated and the process for termination

13. Dispute Resolution: Process for resolving disputes between parties

14. General Provisions: Standard contract clauses including governing law, notices, and entire agreement

Optional Sections

1. Exclusive Agency: Used when the broker is to be the exclusive agent for the sale, including terms of exclusivity

2. Multiple Listings: Required when the business will be listed on multiple platforms or with multiple brokers

3. International Marketing: Include when targeting international buyers, specifying additional marketing requirements and considerations

4. Vendor Finance: Include when the owner is willing to provide vendor financing options to potential buyers

5. Staff Transition: Required when the agreement includes provisions for managing staff communications and transitions

6. Intellectual Property: Detailed section needed when the business has significant IP assets requiring special handling

7. Post-Sale Consulting: Include when the owner agrees to provide post-sale consulting or training to the buyer

8. Break Fee: Used when parties agree to specific financial penalties for early termination

Suggested Schedules

1. Schedule 1: Business Details: Detailed description of the business, including trading name, location, nature of business, and key assets

2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, including any sliding scales or special circumstances

3. Schedule 3: Marketing Plan: Specific marketing activities to be undertaken, including platforms, budget, and timeframes

4. Schedule 4: Due Diligence Checklist: List of documents and information required for due diligence purposes

5. Schedule 5: Confidentiality Agreement: Standard form confidentiality agreement to be used with potential buyers

6. Appendix A: Financial Information: Summary of key financial information and performance metrics

7. Appendix B: Asset Register: Detailed list of business assets included in the sale

8. Appendix C: Required Disclosures: Mandatory disclosures required under the Real Estate Agents Act 2008

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

Business Services

Professional Services

Real Estate

Retail

Manufacturing

Hospitality

Technology

Healthcare

Construction

Education

Agriculture

Transportation

Financial Services

Consulting

Relevant Teams

Legal

Corporate Development

Mergers & Acquisitions

Business Development

Operations

Executive Leadership

Finance

Commercial

Compliance

Corporate Secretariat

Relevant Roles

Business Broker

Commercial Lawyer

Business Development Manager

Managing Director

Chief Executive Officer

Company Secretary

Business Owner

Franchise Manager

Mergers & Acquisitions Manager

Legal Counsel

Business Valuation Specialist

Commercial Director

Operations Manager

Corporate Development 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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