The Buyer's Agent Agreement is a crucial document used in Indonesian real estate transactions when a property buyer wishes to formally engage a professional agent to act on their behalf. This agreement is particularly important in the Indonesian market where property transactions can be complex and require local expertise. The document establishes the scope of the agent's authority, defines their responsibilities in property search and negotiation, and sets out the terms of compensation. It ensures compliance with Indonesian Civil Code (KUHPerdata) requirements for agency relationships and includes specific provisions required by local real estate regulations. The agreement is essential for protecting both parties' interests and creating clear accountability in the property acquisition process.
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1. Parties: Identification of the buyer (principal) and the agent, including complete legal names, addresses, and any relevant registration numbers
2. Background: Context of the agreement, including the buyer's intention to purchase property and the agent's qualifications to assist
3. Definitions: Key terms used throughout the agreement, including technical and legal terminology
4. Appointment and Scope of Authority: Formal appointment of the agent and detailed description of authorized activities
5. Agent's Services: Comprehensive list of services to be provided by the agent, including property search, negotiation, and advisory services
6. Term of Agreement: Duration of the agreement, including start date and termination conditions
7. Agent's Fees and Expenses: Detailed fee structure, payment terms, and reimbursable expenses
8. Rights and Obligations of the Agent: Agent's duties, responsibilities, and standard of care
9. Rights and Obligations of the Buyer: Buyer's responsibilities, including providing information and cooperation
10. Confidentiality: Obligations regarding confidential information and its handling
11. Termination: Grounds for termination, notice requirements, and consequences
12. Liability and Indemnification: Extent of agent's liability and mutual indemnification provisions
13. Governing Law and Dispute Resolution: Applicable law and methods for resolving disputes
14. Notices: Methods and addresses for official communications between parties
15. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability
1. Exclusivity: Used when the agent is to be the buyer's exclusive representative, preventing engagement of other agents
2. Property Requirements: Include when buyer has specific property criteria that need to be documented
3. Success Fee: Used when including additional performance-based compensation
4. Insurance: Include when specific insurance requirements need to be documented
5. Anti-Money Laundering Compliance: Include for high-value transactions or when dealing with international buyers
6. Force Majeure: Include when specific provisions for unforeseen circumstances are needed
7. Assignment: Include when either party may need to transfer rights under the agreement
8. Digital Communications: Include when parties agree to use electronic communications and digital signatures
1. Schedule A - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
2. Schedule B - Property Requirements: Detailed specifications of the type of property being sought
3. Schedule C - Scope of Services: Comprehensive list of services to be provided by the agent
4. Schedule D - Required Documentation: List of documents required from both parties
5. Schedule E - Territory: Geographic areas where agent is authorized to search for properties
6. Appendix 1 - Agent's Credentials: Copies of agent's licenses, certifications, and professional memberships
7. Appendix 2 - Power of Attorney: If required, formal power of attorney document in Indonesian format
8. Appendix 3 - Compliance Checklist: List of regulatory requirements and compliance measures
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Property Investment
Real Estate Services
Property Management
Corporate Real Estate
Hospitality
Industrial Property
Relevant Teams
Legal
Real Estate
Property Acquisitions
Corporate Real Estate
Compliance
Risk Management
Facilities Management
Investment
Operations
Finance
Procurement
Relevant Roles
Real Estate Agent
Property Buyer's Representative
Real Estate Broker
Property Consultant
Real Estate Investment Advisor
Corporate Real Estate Manager
Property Acquisition Manager
Legal Counsel
Compliance Officer
Real Estate Transaction Manager
Property Portfolio Manager
Head of Real Estate
Chief Investment Officer
Facilities Manager
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