The Buyer Broker Agreement is a crucial document used in Hong Kong real estate transactions to formalize the relationship between a licensed real estate broker and a client seeking to purchase property. It is essential when a buyer wants professional representation in their property search and acquisition process. The agreement details the broker's duties, including property identification, market analysis, price negotiations, and transaction coordination. Governed by Hong Kong law and regulated under the Estate Agents Ordinance (Cap. 511), this document includes specific provisions for commission structures, service scope, and client obligations. It's particularly important in Hong Kong's dynamic property market where professional representation can be vital for successful property acquisition.
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1. Parties: Identification of the broker/agency and the buyer client, including full legal names and contact details
2. Background: Brief context explaining the purpose of the agreement and the client's intention to engage the broker
3. Definitions: Key terms used throughout the agreement, including 'Property Requirements', 'Commission', 'Exclusive Period' if applicable
4. Appointment and Scope of Services: Details of the broker's appointment and specific services to be provided
5. Broker's Obligations: Comprehensive list of broker's duties, including property search, negotiations, and professional conduct requirements
6. Client's Obligations: Client's responsibilities, including providing accurate requirements and cooperating with the broker
7. Commission Structure: Clear outline of commission rates, calculation methods, and payment terms
8. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
9. Confidentiality: Obligations regarding confidential information and personal data protection
10. Liability and Indemnity: Extent of broker's liability and any indemnification provisions
11. General Provisions: Standard contractual terms including notices, amendments, and governing law
1. Exclusivity Provisions: Used when the agreement is exclusive, defining the terms of exclusive representation
2. Additional Services: Include when broker offers extra services beyond standard property search, such as property inspection coordination or legal referrals
3. International Property Services: Include for agreements covering overseas property searches
4. Multiple Property Provisions: Used when client is seeking multiple properties or has multiple requirements
5. Special Payment Terms: Include when there are installment payments or special commission arrangements
6. Force Majeure: Optional clause for circumstances preventing performance, particularly relevant post-COVID
1. Schedule 1: Property Requirements: Detailed specification of client's property requirements including location, size, budget, and other preferences
2. Schedule 2: Commission Structure: Detailed breakdown of commission calculations and payment scenarios
3. Schedule 3: Broker's Services: Comprehensive list of included and excluded services
4. Appendix A: Required Documents: List of documents required from the client for compliance and verification
5. Appendix B: Agency Disclosure Form: Standard form required under Hong Kong Estate Agents Ordinance
6. Appendix C: Client Information Form: KYC and client preference documentation as required by regulations
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Property Investment
Financial Services
Professional Services
Corporate Services
Wealth Management
Residential Property
Commercial Property
Industrial Property
Relevant Teams
Legal
Compliance
Real Estate
Property Management
Business Development
Client Relations
Risk Management
Operations
Finance
Contract Administration
Relevant Roles
Real Estate Broker
Property Agent
Real Estate Agency Director
Compliance Officer
Legal Counsel
Property Investment Manager
Real Estate Transaction Manager
Client Relations Manager
Business Development Manager
Contract Administrator
Risk Manager
Property Portfolio Manager
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