The Cooperating Broker Commission Agreement is essential for real estate brokerages in Canada seeking to formalize their commission-sharing arrangements with other brokerages. This document becomes necessary when brokerages regularly collaborate on real estate transactions and need clear, legally-compliant terms for commission distribution. It includes detailed provisions for commission splits, payment schedules, and operational procedures, while ensuring compliance with provincial real estate acts and federal regulations. The agreement is particularly valuable in major Canadian real estate markets where inter-brokerage cooperation is frequent and complex transactions require clear commission structures. It helps prevent disputes by establishing transparent terms for cooperation and commission sharing upfront.
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1. Parties: Identifies the cooperating brokers entering into the agreement, including their legal business names, license numbers, and office addresses
2. Background: Explains the context of the agreement and the brokers' desire to collaborate on real estate transactions
3. Definitions: Defines key terms used throughout the agreement, including 'Commission', 'Qualified Lead', 'Territory', and 'Transaction'
4. Scope of Cooperation: Outlines the nature and extent of the cooperation between the brokers
5. Commission Structure: Details the agreed-upon commission split percentages and calculation methods
6. Payment Terms: Specifies when and how commission payments will be made between brokers
7. Representations and Warranties: States the brokers' confirmations regarding their legal authority, licensing status, and ability to enter into the agreement
8. Confidentiality: Establishes obligations regarding the handling of confidential information shared between brokers
9. Term and Termination: Specifies the duration of the agreement and conditions for termination
10. Dispute Resolution: Outlines the process for resolving any disputes between the brokers
11. General Provisions: Includes standard legal provisions such as governing law, amendments, and notices
1. Exclusive Territory: Defines geographic or client-based territories when brokers agree to exclusive cooperation within specific boundaries
2. Marketing Cooperation: Details joint marketing initiatives and cost-sharing arrangements when brokers plan to conduct joint marketing
3. Cross-Border Transactions: Specifies additional terms for transactions involving properties or clients across provincial or international borders
4. Training and Support: Outlines any agreements regarding shared training programs or technical support between brokers
5. Client Ownership: Establishes rules for determining client ownership and lead attribution in complex scenarios
6. Non-Solicitation: Includes provisions preventing brokers from soliciting each other's agents or employees
7. Technology Integration: Specifies terms for sharing or integrating technology platforms between brokers
1. Schedule A - Commission Split Schedule: Detailed breakdown of commission split percentages for different types of transactions or property values
2. Schedule B - Territory Map: Visual representation and detailed description of any exclusive territories
3. Schedule C - Referral Fee Structure: Specific rates and terms for referral fees between brokers
4. Schedule D - Required Documentation: List of documents required for commission processing and payment
5. Appendix 1 - Contact Information: Detailed contact information for key personnel and departments in each brokerage
6. Appendix 2 - Commission Calculator: Tools or formulas for calculating commission splits in various scenarios
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Commercial Real Estate
Residential Real Estate
Real Estate Investment
Property Development
Real Estate Finance
Real Estate Technology
Relevant Teams
Legal
Operations
Compliance
Finance
Transaction Processing
Administration
Executive Leadership
Commission Processing
Business Development
Agent Support
Relevant Roles
Broker of Record
Managing Broker
Real Estate Broker
Licensed Real Estate Agent
Real Estate Sales Representative
Brokerage Owner
Real Estate Branch Manager
Commission Administrator
Brokerage Operations Manager
Compliance Officer
Real Estate Transaction Coordinator
Chief Operating Officer
Legal Counsel
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