The Broker Agent Commission Split Agreement is a crucial document in the Indian real estate industry that formalizes the business relationship between brokers/brokerage firms and their agents. This agreement is essential when establishing new agent relationships or updating existing arrangements within a brokerage. It specifically addresses commission structures, operational procedures, and compliance requirements under Indian law, including RERA regulations. The document is particularly relevant in today's evolving real estate market where clear definition of roles, responsibilities, and financial arrangements is critical for successful broker-agent relationships. It provides protection for both parties while ensuring transparency in commission distributions and professional expectations.
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1. Parties: Identification of the broker/brokerage firm and the agent, including their registration details and RERA numbers
2. Background: Context of the agreement, including the broker's business nature and agent's qualifications
3. Definitions: Key terms used throughout the agreement including 'Commission', 'Gross Commission', 'Transaction', 'Closing', etc.
4. Appointment and Scope: Terms of agent's appointment, territory, and scope of authorized activities
5. Commission Structure: Basic commission split arrangements, calculation methods, and payment terms
6. Broker's Obligations: Services, support, and resources provided by the broker to the agent
7. Agent's Obligations: Agent's duties, responsibilities, and performance standards
8. Compliance Requirements: Regulatory compliance obligations including RERA, money laundering regulations, and other applicable laws
9. Confidentiality: Protection of confidential information and trade secrets
10. Term and Termination: Duration of agreement and circumstances for termination
11. Post-Termination Obligations: Obligations and restrictions after agreement termination
12. Dispute Resolution: Process for resolving disputes between parties
13. Governing Law: Specification of Indian law as governing law and jurisdiction
1. Training and Development: Used when broker provides specific training programs or professional development opportunities
2. Marketing Support: Include when broker offers specific marketing assistance or cost-sharing arrangements
3. Team Structure: Required when agent operates with a team under them
4. Performance Incentives: Include when offering additional commission splits based on performance targets
5. Technology Platform Usage: Include when broker provides specific technology tools or platforms
6. Non-Compete Clause: Optional restrictions on agent's activities during and after the agreement
7. Insurance Requirements: Include when specific insurance coverage is required from the agent
1. Schedule A - Commission Split Structure: Detailed breakdown of commission splits, including any sliding scales or performance-based adjustments
2. Schedule B - Office Services and Facilities: List of services, facilities, and support provided by broker to agent
3. Schedule C - Required Documentation: Forms and documents required for transactions and compliance
4. Schedule D - Territory Definition: Detailed description of geographic area or market segment if applicable
5. Appendix 1 - Code of Conduct: Detailed behavioral and professional standards expected from the agent
6. Appendix 2 - Technology and Systems Access: Details of technology platforms, access protocols, and usage guidelines
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Property Management
Real Estate Investment
Real Estate Advisory
Relevant Teams
Legal
Real Estate Operations
Sales
Compliance
Finance
Business Development
Human Resources
Agency Relations
Contract Administration
Relevant Roles
Real Estate Broker
Real Estate Agent
Property Consultant
Brokerage Manager
Sales Director
Business Development Manager
Agency Relations Manager
Compliance Officer
Real Estate Sales Manager
Branch Manager
Managing Broker
Senior Property Advisor
Real Estate Operations Manager
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