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Buyer Representation Agreement Form for Pakistan

Buyer Representation Agreement Form Template for Pakistan

A Buyer Representation Agreement Form is a legally binding document used in Pakistan that establishes a formal relationship between a property buyer and their chosen real estate agent or agency. The agreement, governed by Pakistani contract law and real estate regulations, outlines the scope of services, responsibilities, compensation structure, and terms of representation. It provides legal protection for both parties while ensuring compliance with local property laws, including provincial real estate regulations and federal contract laws. The document is particularly important in Pakistan's real estate market, where it helps maintain transparency and professional standards in property transactions.

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What is a Buyer Representation Agreement Form?

The Buyer Representation Agreement Form is a crucial document in Pakistani real estate transactions, designed to protect the interests of property buyers seeking professional representation in their property search and acquisition. This agreement is typically used when a buyer wants to engage a real estate agent's services exclusively for finding and purchasing property. The document, compliant with Pakistani federal and provincial laws, includes detailed terms of representation, agent's duties, compensation structure, and duration of the agreement. It serves as a foundational document that clearly defines the professional relationship between the parties involved, ensuring transparency and accountability. The agreement is particularly relevant in Pakistan's dynamic real estate market, where professional representation can be crucial for navigating complex property transactions, ensuring legal compliance, and protecting buyers' interests. When properly executed, this Buyer Representation Agreement Form provides legal recourse under Pakistani contract law while establishing clear expectations for all parties involved.

What sections should be included in a Buyer Representation Agreement Form?

1. Parties: Identification of the buyer (client) and the real estate agent/agency, including full legal names, addresses, and contact information

2. Background: Brief context explaining the purpose of the agreement - buyer seeking representation in property purchase

3. Definitions: Key terms used throughout the agreement, including 'Property Requirements', 'Territory', 'Commission', 'Exclusive Representation', etc.

4. Appointment and Scope: Formal appointment of the agent and detailed scope of services to be provided

5. Term of Agreement: Duration of the agreement, including start and end dates, and any provisions for extension

6. Agent's Obligations: Detailed list of services and duties the agent will perform for the buyer

7. Buyer's Obligations: Buyer's responsibilities, including providing accurate information and cooperating with the agent

8. Commission Structure: Details of agent's compensation, payment terms, and conditions for commission earning

9. Confidentiality: Provisions regarding confidential information handling and privacy protection

10. Termination: Conditions and procedures for ending the agreement by either party

11. Governing Law: Specification that Pakistani law governs the agreement and relevant jurisdiction

12. Signatures: Execution section for all parties, including witnesses as required by Pakistani law

What sections are optional to include in a Buyer Representation Agreement Form?

1. Dual Agency: Required when the agent might represent both buyer and seller in a transaction

2. International Property Search: Include when the buyer is interested in properties outside Pakistan

3. Islamic Finance Compliance: Add when the buyer requires Shariah-compliant property financing

4. Power of Attorney: Include when the buyer grants specific powers to the agent

5. Property Management: Add if the agent will provide property management services post-purchase

6. Dispute Resolution: Optional detailed arbitration or mediation procedures

7. Force Majeure: Include specific provisions for unforeseen circumstances affecting performance

What schedules should be included in a Buyer Representation Agreement Form?

1. Schedule A - Property Requirements: Detailed specifications of the type of property sought, including location, size, budget, and special requirements

2. Schedule B - Commission Schedule: Detailed breakdown of commission rates, payment structure, and any additional fees

3. Schedule C - Services Checklist: Comprehensive list of specific services the agent will provide

4. Appendix 1 - Agent Credentials: Copies of agent's licenses, certifications, and professional memberships

5. Appendix 2 - Required Disclosures: Standard disclosures required by Pakistani real estate regulations

6. Appendix 3 - Agency Policies: Agency's standard operating procedures and policies

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Pakistan

Publisher

Genie AI

Document Type

Agency Agreement

Cost

Free to use

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