The Real Estate Employment Contract is essential for formalizing employment relationships within Nigeria's real estate sector. This document is specifically designed for use when hiring real estate professionals, agents, or managers in Nigeria, ensuring compliance with both the Labour Act and real estate industry regulations. It should be used when establishing new employment relationships or updating existing contracts in the real estate sector. The contract covers crucial elements including commission structures, sales targets, property management responsibilities, and professional licensing requirements. It incorporates provisions required by Nigerian employment law while addressing industry-specific needs such as client confidentiality, property portfolio management, and sales performance metrics. This document is particularly important given the growing complexity of Nigeria's real estate market and the need for clear employment terms in the sector.
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1. Parties: Identification of the employer (real estate company) and the employee with full legal names and addresses
2. Background: Context of the employment relationship and brief description of the company's real estate business
3. Definitions: Key terms used throughout the contract including specific real estate terminology
4. Appointment and Term: Official appointment, position title, and duration of employment (fixed-term or permanent)
5. Duties and Responsibilities: Detailed description of the employee's real estate duties, sales targets, and professional obligations
6. Licensing and Qualifications: Requirements for maintaining necessary real estate licenses and professional certifications
7. Compensation: Base salary, commission structure, and other financial benefits
8. Working Hours and Location: Work schedule, office location, and field work requirements
9. Compliance and Professional Conduct: Adherence to real estate regulations and company policies
10. Confidentiality: Protection of company information, client data, and property listings
11. Non-Competition: Restrictions on working with competitors during and after employment
12. Training and Development: Required training programs and professional development expectations
13. Termination: Conditions and procedures for ending the employment relationship
14. Governing Law: Specification of Nigerian law as governing law and jurisdiction
1. Relocation Package: Terms for relocation support if employee needs to relocate for the position
2. Vehicle Allowance: Terms for providing company vehicle or transportation allowance for property viewings
3. Team Management: Additional responsibilities if employee will manage other real estate agents
4. International Operations: Special provisions for dealing with international property transactions
5. Property Management Duties: Additional terms if role includes property management responsibilities
6. Sign-on Bonus: Terms of any one-time signing bonus or starting incentives
1. Schedule A - Compensation Structure: Detailed breakdown of salary, commission rates, and bonus calculations
2. Schedule B - Performance Metrics: Specific KPIs and sales targets for performance evaluation
3. Schedule C - Territory Assignment: Defined geographic area or property types for the employee's focus
4. Schedule D - Approved External Activities: List of permitted external real estate activities or additional roles
5. Schedule E - Company Policies: Key company policies and procedures relevant to the role
6. Appendix 1 - Required Qualifications: List of mandatory professional qualifications and licenses
7. Appendix 2 - Benefits Package: Detailed description of all employment benefits and eligibility conditions
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