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Real Estate Broker Of Record Agreement for the United Kingdom

Real Estate Broker Of Record Agreement Template for United States

A Real Estate Broker of Record Agreement is a legal document used in the United States that establishes an official relationship between a real estate broker and a client, typically a property owner or corporate entity. The agreement designates the broker as the official representative for real estate transactions, outlining services, compensation, and responsibilities. It complies with federal regulations such as RESPA and state-specific real estate laws, providing a framework for professional real estate services and representation.

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What is a Real Estate Broker Of Record Agreement?

The Real Estate Broker of Record Agreement serves as the foundational document establishing the professional relationship between a licensed real estate broker and their client in the United States. This agreement is particularly important for corporate clients with multiple properties or ongoing real estate needs, as it centralizes real estate services under one broker's oversight. The document specifies the scope of services, territorial coverage, compensation structure, and compliance requirements with both federal and state real estate regulations. It's designed to protect both parties' interests while ensuring clear communication and expectations in the real estate relationship.

What sections should be included in a Real Estate Broker Of Record Agreement?

1. Parties: Identification of the broker and client, including legal names and addresses

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Scope of Services: Detailed description of broker's services and responsibilities

5. Term and Termination: Duration of agreement and termination conditions

6. Compensation: Fee structure and payment terms

7. Representations and Warranties: Statements of fact and promises by both parties

What sections are optional to include in a Real Estate Broker Of Record Agreement?

1. Exclusivity Provisions: Terms regarding exclusive representation - use when exclusive representation is required

2. International Services: Terms for cross-border transactions - use when dealing with international properties

3. Specific Property Provisions: Terms specific to certain property types - use when dealing with specialized property types

What schedules should be included in a Real Estate Broker Of Record Agreement?

1. Schedule A - Fee Schedule: Detailed breakdown of all fees and commission structures

2. Schedule B - Service Territory: Geographic area covered by the agreement

3. Schedule C - Required Disclosures: State-mandated disclosures and forms

4. Appendix 1 - Broker's License Information: Copies of relevant licenses and certifications

Authors

Alex Denne

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

Jurisdiction

United States

Publisher

Genie AI

Document Type

Broker Agreement

Cost

Free to use
Clauses




























Industries

RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate transactions and settlement services, including disclosure requirements and prohibited practices

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, disability, and familial status

ADA Compliance: Americans with Disabilities Act requirements ensuring accessibility and non-discrimination in real estate services

Anti-Trust Laws: Federal regulations preventing anti-competitive practices in real estate brokerage services

TILA: Truth in Lending Act - Federal law requiring disclosure of credit terms and standardizing how costs are calculated and disclosed

State License Laws: State-specific requirements for real estate broker licensing, continuing education, and professional conduct

State Broker Requirements: Specific state regulations governing broker responsibilities, duties, and operational requirements

State Commission Rules: Rules and regulations set by state real estate commissions governing broker conduct and operations

Disclosure Requirements: State-mandated disclosures for real estate transactions and broker relationships

Agency Relationship Laws: State laws defining and governing the relationship between brokers and their clients

NAR Code of Ethics: Professional standards and ethical requirements set by the National Association of REALTORSยฎ

State Contract Laws: General contract law principles and requirements specific to each state

Statute of Frauds: Legal requirement that certain contracts, including real estate agreements, must be in writing to be enforceable

Commission Regulations: Laws and regulations governing how real estate commissions can be structured and shared

Anti-Kickback Provisions: Laws prohibiting illegal referral fees and kickbacks in real estate transactions

Data Privacy Laws: Regulations governing the collection, storage, and protection of client and transaction data

Business Registration Requirements: State and local requirements for business registration and maintenance of broker operations

Insurance Requirements: Mandatory insurance coverage requirements for real estate brokers, including errors and omissions insurance

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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