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The Buyer Broker Agreement is a crucial document in New Zealand real estate transactions that formalizes the relationship between a property buyer and their chosen real estate broker. It is typically used when a buyer seeks professional representation in their property search and acquisition process, whether for residential, commercial, or investment purposes. The agreement complies with New Zealand's Real Estate Agents Act 2008 and related regulations, providing a comprehensive framework for the services to be rendered, compensation terms, and mutual obligations. This document is essential for protecting both parties' interests and ensuring clear communication and expectations throughout the property acquisition process. It includes specific provisions for the New Zealand market context, including compliance with local real estate practices, AML requirements, and consumer protection laws.

1. Parties: Identifies and provides full legal details of the broker/brokerage firm and the buyer

2. Background: Explains the context of the agreement, including the buyer's desire to engage the broker's services for property acquisition

3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Services', 'Commission', 'Term', and other relevant terms

4. Appointment and Scope of Services: Details the appointment of the broker and specifies the services to be provided, including property search, evaluation, and negotiation assistance

5. Term and Termination: Specifies the duration of the agreement, renewal provisions, and circumstances under which either party may terminate

6. Broker's Obligations: Lists the broker's duties, including acting in good faith, maintaining confidentiality, and compliance with relevant laws

7. Client's Obligations: Outlines the buyer's responsibilities, including providing accurate information and cooperating with the broker

8. Fees and Commission: Details the compensation structure, payment terms, and circumstances under which commission becomes payable

9. Confidentiality: Addresses the handling and protection of confidential information shared during the engagement

10. Liability and Indemnification: Sets out the limitations of liability and any indemnification provisions

11. Dispute Resolution: Outlines the process for resolving any disputes between the parties

12. General Provisions: Contains standard clauses including governing law, entire agreement, amendments, and notices