The Buyer Representative Agreement is a crucial document in Indian real estate transactions that formalizes the relationship between a property buyer and their chosen real estate agent or agency. This agreement becomes necessary when a buyer seeks professional assistance in identifying, evaluating, and purchasing property, whether residential or commercial. The document must comply with the Real Estate (Regulation and Development) Act 2016 (RERA) and various state-specific regulations that govern real estate transactions in India. It typically includes detailed provisions about the scope of services, agent's obligations, buyer's responsibilities, compensation terms, and the duration of representation. The agreement protects both parties' interests by clearly defining the terms of engagement, confidentiality obligations, and the extent of the agent's authority to act on the buyer's behalf.
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1. Parties: Identifies and provides details of the buyer (client) and the real estate agent/agency, including RERA registration numbers
2. Background: Explains the context of the agreement, including the buyer's intention to purchase property and the agent's qualifications and 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 and Termination: Specifies the duration of the agreement and conditions for termination by either party
6. Agent's Rights and Obligations: Lists the agent's duties, responsibilities, and rights under the agreement
7. Client's Rights and Obligations: Outlines the buyer's responsibilities, including providing accurate information and cooperation
8. Compensation: Details the fee structure, payment terms, and conditions for commission earning
9. Confidentiality: Establishes confidentiality obligations regarding shared information
10. Representations and Warranties: Contains statements of fact and promises made by both parties
11. Liability and Indemnification: Addresses the extent of agent's liability and mutual indemnification provisions
12. Governing Law and Jurisdiction: Specifies applicable law and courts for dispute resolution
13. Notices: Details how formal communications between parties should be made
14. General Provisions: Contains standard boilerplate clauses including force majeure, severability, and entire agreement
1. Exclusive Right to Represent: Used when the agreement is exclusive, preventing the buyer from working with other agents
2. Property Search Criteria: Include when specific property requirements need to be documented in the main agreement rather than schedule
3. Digital Services: Include when the agent provides virtual tours, online platforms, or other digital services
4. International Property Services: Add for agreements involving potential international property purchases
5. Multiple Agency Disclosure: Include when the agent may represent other buyers looking for similar properties
6. Transaction Coordination Services: Add when agent provides additional transaction management services
7. Post-Closing Services: Include when agent offers services extending beyond the closing date
1. Schedule A - Property Requirements: Detailed specifications of the type of property sought, including location, size, budget, and other preferences
2. Schedule B - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
3. Schedule C - Scope of Services: Comprehensive list of specific services included in the agreement
4. Schedule D - Agent Credentials: Copies of agent's RERA registration, professional certifications, and licenses
5. Appendix 1 - Required Documents: List of documents the buyer needs to provide for property transactions
6. Appendix 2 - Agency Disclosure Form: Standard form explaining the agency relationship and potential conflicts
7. Appendix 3 - Service Level Standards: Detailed performance standards and response time commitments
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