The Real Estate Broker Contract is essential for formalizing brokerage relationships in the UAE real estate market. This document is required when engaging a licensed real estate broker or brokerage firm to market, sell, or lease property within the UAE. It must comply with RERA (Real Estate Regulatory Agency) requirements and UAE Federal laws governing real estate transactions. The contract typically includes detailed provisions about commission structures, service scope, exclusivity terms, and obligations of all parties involved. It's particularly important in major real estate markets like Dubai and Abu Dhabi, where specific local regulations apply in addition to federal requirements. The agreement serves as a crucial legal framework for protecting both the broker's and client's interests while ensuring compliance with local real estate regulations.
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1. Parties: Identification of the broker and the client, including license numbers, contact details, and registration information as required by RERA
2. Background: Context of the agreement and confirmation of broker's RERA registration and qualifications
3. Definitions: Key terms used throughout the agreement including 'Property', 'Commission', 'Exclusive Rights', 'Transaction' etc.
4. Appointment and Scope of Services: Details of broker's appointment and specific services to be provided
5. Term of Agreement: Duration of the brokerage agreement, including start and end dates
6. Broker's Rights and Obligations: Detailed responsibilities of the broker including marketing, showing property, negotiations, and documentation
7. Client's Rights and Obligations: Client's responsibilities including providing accurate information, access to property, and cooperation
8. Commission Structure: Details of broker's fees, payment terms, and conditions for commission earning
9. Exclusivity Terms: Whether the appointment is exclusive or non-exclusive and related conditions
10. Confidentiality: Obligations regarding confidential information and client privacy
11. Termination: Grounds for termination, notice requirements, and consequences of termination
12. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction for disputes
13. Entire Agreement: Standard clause confirming the agreement represents the complete understanding between parties
1. International Property Services: Include when broker will assist with international property transactions
2. Multiple Property Listings: Include when agreement covers multiple properties
3. Sub-Agents: Include when broker may need to engage other licensed agents
4. Marketing Budget and Plans: Include when specific marketing commitments are agreed upon
5. Property Management Services: Include when broker will provide additional property management services
6. Force Majeure: Include when parties want specific provisions for unforeseen circumstances
7. Language Provisions: Include when agreement needs to be in both Arabic and English
1. Schedule 1: Property Details: Detailed description of property(ies) covered by the agreement
2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, payment terms and conditions
3. Schedule 3: Service Level Agreement: Specific performance metrics and service standards
4. Schedule 4: Marketing Plan: Detailed marketing strategy and commitments
5. Appendix A: Broker's Credentials: Copies of broker's license, RERA registration and other relevant certificates
6. Appendix B: Property Documentation: Relevant property documents, titles, and certificates
7. Appendix C: Required RERA Forms: Standard forms required by RERA for brokerage agreements
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