The Buyer Broker Agreement is a fundamental document in Irish real estate transactions where a buyer seeks professional representation in property acquisition. This agreement is essential when a property buyer wishes to engage a licensed broker to act exclusively on their behalf in searching for, evaluating, and negotiating property purchases. The document complies with Irish property services regulations, particularly the Property Services (Regulation) Act 2011, and includes provisions for broker compensation, service scope, confidentiality, and professional obligations. It's particularly relevant in complex property transactions where professional representation is valuable, such as high-value purchases, commercial properties, or when buyers require extensive market expertise.
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1. Parties: Identifies and provides full details of the buyer client and the broker/brokerage firm, including license numbers and contact information
2. Background: Sets out the context of the agreement, including the buyer's intention to purchase property and the broker's qualification to provide such services
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Scope of Services: Details the specific services the broker will provide, including property search, viewings, negotiations, and advisory services
5. Term and Termination: Specifies the duration of the agreement and conditions for termination
6. Broker's Obligations: Lists the broker's duties, responsibilities, and standard of care
7. Client's Obligations: Outlines the client's responsibilities, including providing accurate information and cooperation
8. Fees and Payment Terms: Details the broker's compensation structure, payment terms, and conditions
9. Confidentiality: Addresses the handling of confidential information and data protection requirements
10. Liability and Indemnification: Sets out the limitations of liability and indemnification provisions
11. General Provisions: Contains standard legal provisions including governing law, notices, and entire agreement clause
1. Exclusive Representation: Used when the agreement is exclusive, preventing the client from engaging other brokers
2. International Property Services: Include when the broker may assist with international property searches
3. Property Type Restrictions: Added when the search is limited to specific types of properties
4. Additional Services: Include when broker offers supplementary services like property management advice or renovation consultation
5. Dual Agency Provisions: Used when the broker may potentially represent both buyer and seller
6. Force Majeure: Added to address extraordinary circumstances that may affect service delivery
7. Anti-Money Laundering Compliance: Detailed AML requirements when dealing with high-value transactions or international clients
1. Schedule 1 - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
2. Schedule 2 - Service Level Details: Comprehensive list of services and response time commitments
3. Schedule 3 - Property Requirements: Detailed specification of the client's property requirements and preferences
4. Appendix A - Broker's Credentials: Copies of relevant licenses, certifications, and professional memberships
5. Appendix B - Client Information Form: Required client information and verification documents
6. Appendix C - PSRA Regulatory Notices: Required regulatory notices and disclosures under Irish law
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Professional Services
Property Investment
Property Management
Relevant Teams
Legal
Real Estate
Compliance
Property Acquisition
Investment
Property Management
Corporate Services
Risk Management
Relevant Roles
Real Estate Broker
Property Consultant
Real Estate Agent
Property Buyer's Agent
Investment Manager
Property Acquisition Manager
Real Estate Investment Advisor
Property Services Manager
Compliance Officer
Legal Counsel
Property Portfolio Manager
Real Estate Transaction Manager
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