The Buyer Broker Agreement is a crucial document in Indonesian real estate transactions that formalizes the relationship between a property buyer and their chosen broker. This agreement is particularly important in Indonesia's dynamic real estate market, where professional representation is essential for navigating complex property transactions. The document is used when a buyer seeks professional assistance in property search, evaluation, and purchase negotiations, providing legal protection for both parties under Indonesian law. It typically includes detailed terms of service, commission structures, duration of representation, and specific obligations of both parties. The agreement is designed to comply with Indonesian Civil Code requirements, relevant real estate regulations, and consumer protection laws, making it an essential tool for professional property transactions in the Indonesian market.
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1. Parties: Identification of the broker and the buyer, including complete legal names, addresses, and registration numbers if applicable
2. Background: Context of the agreement, including the buyer's intention to purchase property and the broker's qualifications and licenses
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Services', 'Commission', and 'Exclusive Period'
4. Appointment and Scope of Services: Details of the broker's appointment and comprehensive list of services to be provided
5. Term and Termination: Duration of the agreement, renewal terms, and conditions for termination
6. Broker's Rights and Obligations: Detailed responsibilities of the broker, including property search, negotiations, and documentation assistance
7. Buyer's Rights and Obligations: Buyer's commitments, including providing accurate information and cooperation
8. Commission Structure: Details of broker's fees, payment terms, and conditions for commission earning
9. Confidentiality: Obligations regarding confidential information and its handling
10. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority
11. Liability and Indemnification: Extent of broker's liability and mutual indemnification provisions
12. Governing Law and Dispute Resolution: Applicable Indonesian law and method of resolving disputes
13. General Provisions: Standard clauses including notices, amendments, and severability
1. Exclusive Rights: Used when the broker is granted exclusive rights to represent the buyer
2. International Transactions: Include when dealing with international property purchases or foreign buyers
3. Virtual Services: Add when broker services include virtual property viewings or online transactions
4. Multiple Property Search: Include when the agreement covers search for multiple properties
5. Special Market Conditions: Add when specific market conditions require special terms or protections
6. Team Representation: Include when multiple brokers or a team will be representing the buyer
7. Property Type Specific Terms: Add for specific requirements related to commercial, industrial, or special use properties
1. Schedule A - Service Package Details: Detailed breakdown of services included in the agreement
2. Schedule B - Commission Structure: Detailed fee structure, including any sliding scales or special conditions
3. Schedule C - Buyer's Requirements: Specific details of the buyer's property requirements and preferences
4. Schedule D - Broker's Credentials: Copies of broker's licenses, certifications, and professional memberships
5. Schedule E - Property Search Area: Definition and/or map of the geographical area covered by the search
6. Appendix 1 - Required Documents: List of documents required from buyer for property transactions
7. Appendix 2 - Standard Operating Procedures: Broker's standard procedures for property search and negotiation
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Construction
Legal Services
Financial Services
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Business Development
Contracts Administration
Investment
Operations
Risk Management
Corporate Services
Relevant Roles
Real Estate Broker
Property Consultant
Legal Counsel
Compliance Officer
Real Estate Agent
Property Manager
Contract Manager
Business Development Manager
Investment Manager
Property Acquisitions Manager
Real Estate Transaction Coordinator
Legal Director
Chief Legal Officer
Real Estate Portfolio Manager
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