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Non Exclusive Buyer Representation Agreement Template for Nigeria

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Key Requirements PROMPT example:

Non Exclusive Buyer Representation Agreement

"I need a Non-Exclusive Buyer Representation Agreement for a foreign corporate client looking to acquire commercial properties in Lagos, Nigeria, with specific provisions for anti-money laundering compliance and multiple agent coordination, to be effective from March 1, 2025."

Document background
The Non-Exclusive Buyer Representation Agreement is a crucial document in Nigerian real estate transactions where buyers wish to maintain flexibility in their property search by working with multiple agents. This agreement is commonly used in both residential and commercial property transactions throughout Nigeria, providing a clear framework for the agent-buyer relationship while protecting both parties' interests. It outlines the agent's services, compensation structure, and duties while explicitly stating the non-exclusive nature of the arrangement. The document ensures compliance with Nigerian real estate regulations, contract law, and consumer protection requirements while facilitating professional property search and acquisition services. It's particularly relevant when buyers want to maximize their property search options without being bound to a single agent.
Suggested Sections

1. Parties: Identifies and provides full details of the buyer and the real estate agent/agency

2. Background: Explains the context of the agreement and the buyer's intention to engage the agent's services

3. Definitions: Defines key terms used throughout the agreement

4. Scope of Services: Details the specific services the agent will provide to the buyer

5. Non-Exclusive Appointment: Clearly states the non-exclusive nature of the relationship and the buyer's right to work with other agents

6. Agent's Obligations: Lists all duties and responsibilities of the agent

7. Buyer's Obligations: Outlines the buyer's responsibilities and commitments

8. Commission Structure: Details the agent's compensation terms and conditions

9. Term and Termination: Specifies the agreement duration and conditions for termination

10. Confidentiality: Addresses the handling of confidential information

11. Governing Law: Specifies Nigerian law as governing law and relevant jurisdiction

12. Dispute Resolution: Outlines the process for resolving any disputes

13. General Provisions: Includes standard contractual provisions like notices, amendments, and severability

Optional Sections

1. Protected Properties: Used when specific properties already identified by the agent need to be listed and protected for commission purposes

2. Dual Agency Provisions: Include when the agency allows for potential dual agency situations

3. International Buyer Provisions: Add for non-Nigerian buyers to address specific requirements and considerations

4. Anti-Money Laundering Compliance: Include detailed AML provisions for high-value transactions or when working with corporate buyers

5. Property Type Specifications: Add when the buyer is looking for specific types of properties with unique requirements

6. Market Reports and Analysis: Include when the agent will provide regular market analysis as part of the service

Suggested Schedules

1. Schedule A - Service Details: Detailed breakdown of all services to be provided by the agent

2. Schedule B - Commission Structure: Detailed commission calculations and payment terms

3. Schedule C - Buyer's Requirements: Specific details of the type of property the buyer is seeking

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

5. Appendix 2 - Required Documentation: List of documents required from the buyer for compliance purposes

6. Appendix 3 - Agency Disclosure Form: Standard form explaining the nature of the agency relationship

Authors

Alex Denne

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

Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Legal Services

Professional Services

Financial Services

Construction

Property Management

Corporate Real Estate

Relevant Teams

Legal

Real Estate

Compliance

Corporate Services

Facilities Management

Property Acquisition

Business Development

Risk Management

Operations

Contract Administration

Relevant Roles

Real Estate Agent

Property Consultant

Real Estate Broker

Legal Counsel

Property Acquisition Manager

Real Estate Director

Compliance Officer

Contract Manager

Property Portfolio Manager

Business Development Manager

Real Estate Investment Manager

Corporate Real Estate Manager

Facilities Manager

Property Lawyer

Transaction Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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