The Buyer Representation Agreement serves as a fundamental legal document in Malaysian real estate transactions, establishing the formal relationship between a property buyer and their chosen real estate agent. This document is essential when a buyer seeks professional representation in their property search and acquisition process. It clearly defines the agent's duties, including property search, negotiations, and advisory services, while protecting both parties' interests under Malaysian law. The agreement typically includes specific details about the desired property type, geographical area, price range, and the agent's compensation structure. It ensures compliance with Malaysian real estate regulations and provides a clear framework for the professional services to be rendered. This document is particularly crucial in Malaysia's dynamic property market, where professional representation can significantly impact transaction outcomes.
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1. Parties: Identifies the buyer and the real estate agent/agency, including full legal names, registration numbers, and contact details
2. Background: Explains the context of the agreement, including the buyer's intention to purchase property and the agent's qualification to provide representation services
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Appointment and Scope of Services: Details the formal appointment of the agent and comprehensive list of services to be provided
5. Term of Agreement: Specifies the duration of the agreement, including start and end dates
6. Agent's Obligations: Lists all duties and responsibilities of the agent, including fiduciary duties and specific services
7. Buyer's Obligations: Outlines the buyer's responsibilities, including cooperation and information provision
8. Compensation: Details the agent's fees, commission structure, and payment terms
9. Confidentiality: Addresses the handling and protection of confidential information
10. Termination: Specifies conditions and procedures for ending the agreement
11. Governing Law: Confirms Malaysian law as governing law and jurisdiction
1. Dual Agency: Required when the agent might represent both buyer and seller in a transaction
2. Property Type Specifications: Used when the buyer has specific property requirements or limitations
3. International Property Services: Included when the scope includes properties outside Malaysia
4. Additional Services: Details extra services beyond standard representation, such as property management advice
5. Force Majeure: Addresses unforeseen circumstances that may affect agreement performance
6. Dispute Resolution: Specifies mediation or arbitration procedures when parties prefer alternative dispute resolution
1. Schedule A - Service Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
2. Schedule B - Property Requirements: Specific details of the type of property the buyer is seeking
3. Schedule C - Excluded Properties: List of properties or developments excluded from the agreement
4. Appendix 1 - Agent's Credentials: Copies of agent's license and professional certifications
5. Appendix 2 - Service Level Agreement: Detailed description of service standards and response times
6. Appendix 3 - Agency Disclosure Form: Standard form required by Malaysian real estate regulations regarding agency relationships
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Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Corporate Services
Professional Services
Relevant Teams
Real Estate
Legal
Compliance
Finance
Property Acquisition
Facilities Management
Corporate Services
Risk Management
Operations
Relevant Roles
Real Estate Agent
Property Buyer
Real Estate Broker
Property Consultant
Real Estate Manager
Corporate Real Estate Manager
Facilities Manager
Property Acquisition Manager
Legal Counsel
Compliance Officer
Chief Financial Officer
Real Estate Director
Property Portfolio Manager
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