BUYER REPRESENTATION AGREEMENT
The appointment of a property agent to act for a buyer
Executed at __________ on __________.
Parties
1. The Buyer — __________, __________, resident of __________, mobile __________, email __________ ("the Buyer").
2. The Agent — __________, of __________, mobile __________, email __________ ("the Agent").
Background
A. The Buyer wishes to buy a property in __________ and has asked the Agent to find one and to act for the Buyer in buying it.
B. The Agent accepts that, in doing so, it acts for the Buyer and not for any seller.
1. The brief
1.1 The Buyer is looking for: __________
1.2 In or near: __________
1.3 At a price of no more than __________.
1.4 The Agent is engaged from __________ to __________ ("the Engagement Period"). __________
2. The Agent acts for the Buyer
2.1 The Agent will act in the Buyer's interest in finding, assessing and negotiating for a property, and will try to obtain it on the best terms available.
2.2 The Agent will not tell any seller, developer or seller's agent the Buyer's maximum budget, the Buyer's reasons for buying, or anything else about the Buyer's position that could weaken it in negotiation, without the Buyer's consent.
2.3 The Agent will tell the Buyer everything it knows or learns that bears on a property's value or on whether the Buyer should buy it, including any dispute, tenancy, charge, unauthorised construction or defect.
2.4 The Agent will not buy, or let a relative or associate buy, a property it has found for the Buyer, and will tell the Buyer at once if it has any interest in a property it shows.
3. Payments from anyone else
3.1 __________
3.2 Where a property is in a project registered with a Real Estate Regulatory Authority, the Agent will deal in it only if the Agent is itself registered as a real estate agent.
4. The Agent's fee
4.1 The Agent's fee is __________ per cent of the purchase price actually agreed for a property the Agent introduced to the Buyer.
4.2 The fee is earned __________, and is payable within 7 days after it is earned. No fee is payable if the Buyer does not buy.
4.3 __________
4.4 The fee is the only payment the Buyer makes to the Agent, and it covers all the Agent's costs.
5. What the Agent's search is not
5.1 The Agent is not the Buyer's advocate, surveyor or valuer. A property the Agent recommends still needs an advocate's title search, an encumbrance search and, where the Buyer is borrowing, the lender's own valuation. The Agent will help the Buyer obtain the documents those checks need, but a recommendation from the Agent is not a statement that the title is good.
6. After the Engagement Period
6.1 If, within 90 days after the Engagement Period ends, the Buyer agrees to buy a property the Agent introduced during it, the fee is payable as if the agreement had been made during the Engagement Period.
6.2 Within 7 days after the Engagement Period ends, the Agent will send the Buyer a dated list of the properties it introduced. Only a property on that list counts for clause 6.1.
7. Ending the engagement early
7.1 Either party may end this engagement early by 15 days' notice in writing. Ending it does not affect a fee already earned, or the protection in clause 6.
8. General
8.1 This agreement is governed by the law in force in __________, and only the courts having jurisdiction at __________ may decide a dispute about it.
8.2 Nothing in this agreement authorises the Agent to sign anything for the Buyer, to pay any money on the Buyer's behalf, or to commit the Buyer to a purchase.
8.3 A notice under this agreement is given in writing, by hand or by email, to the address given for the other party above.
Personal data
This notice is given under the Digital Personal Data Protection Act, 2023.
The names, addresses, telephone numbers and email addresses in this document are collected for one purpose: the Agent's search for a property for the Buyer and the fee that follows. The Buyer and the Agent each keep a copy of this record. It may be shown only to the parties and, with the Buyer's consent, a seller or developer the Agent is negotiating with, and it will not be used for marketing.
If the engagement does not go ahead, the personal data in this document is kept for 90 days from that decision and then erased. If it goes ahead, this record is kept for the term of the engagement plus 12 months and then erased, unless a law requires a particular record to be kept longer.
Consent to the use of personal data in this document may be withdrawn at any time by writing to __________. A request to correct inaccurate data, to erase data once its purpose has ended, or to complain about how it has been handled may be sent to the same address, and will be answered within 30 days.
This document does not collect any Aadhaar number, PAN, bank-account detail or copy of an identity document; the Buyer's budget is recorded only so that the Agent knows what to look for.
Signatures
The Buyer
Signature: ________________________
Name: __________
The Agent
Signature: ________________________
Name: __________
Witnesses
Witness 1
Signature: ________________________
Name: ________________________
Address: ________________________
Witness 2
Signature: ________________________
Name: ________________________
Address: ________________________