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Broker Agent Commission Split Agreement
"I need a Broker Agent Commission Split Agreement for my luxury real estate brokerage in Manila, with a sliding scale commission structure starting at 60-40 split, increasing to 70-30 after reaching 鈧50M in sales, and including special provisions for international property transactions."
1. Parties: Identification of the Principal Broker and the Associate Agent, including their respective license numbers and PRC registration details
2. Background: Context of the agreement, including the broker's business structure and the agent's qualification to act as a real estate practitioner
3. Definitions: Key terms used in the agreement including 'Commission', 'Gross Commission', 'Transaction', 'Closing', and other relevant terms
4. Appointment and Scope: Terms of the agent's appointment, relationship status (independent contractor), and authorized activities
5. Commission Structure: Basic commission split percentages and calculation methods
6. Payment Terms: Timing and method of commission payments, including conditions for payment
7. Duties and Responsibilities: Specific obligations of both broker and agent, including compliance with RESA requirements
8. Term and Termination: Duration of the agreement and conditions for termination
9. Confidentiality: Protection of confidential information and trade secrets
10. Non-Competition and Non-Solicitation: Restrictions on competitive activities during and after the agreement
11. Compliance with Laws: Commitment to comply with Philippine real estate laws and regulations
12. Dispute Resolution: Process for resolving disagreements, including jurisdiction under Philippine law
13. General Provisions: Standard clauses including amendments, severability, and entire agreement
1. Training and Support: Details of broker-provided training and support services, included when the broker offers specific programs
2. Marketing and Advertising: Guidelines for marketing activities and cost sharing, included when specific marketing arrangements exist
3. Team Structure: Rules for operating within or forming teams, included when the brokerage allows team formations
4. Performance Targets: Sales targets and associated commission adjustments, included when performance-based incentives are offered
5. Technology and Systems: Rules for using brokerage technology platforms, included when specific systems are provided
6. International Transactions: Special provisions for international real estate transactions, included when dealing with foreign markets
1. Schedule A - Commission Split Structure: Detailed breakdown of commission split percentages, including any sliding scales or performance-based adjustments
2. Schedule B - Approved Business Expenses: List of reimbursable expenses and cost-sharing arrangements
3. Schedule C - Office Policies and Procedures: Specific brokerage operational policies that form part of the agreement
4. Appendix 1 - Required Documentation: List of documents required for commission processing
5. Appendix 2 - Commission Calculator: Examples and formulas for calculating commissions in various scenarios
6. Appendix 3 - Compliance Checklist: Checklist of regulatory requirements and necessary documentation for transactions
Authors
Real Estate
Residential Property
Commercial Property
Industrial Property
Luxury Property
Property Development
Property Investment
Property Management
Retail Property
Office Property
Legal
Compliance
Real Estate Sales
Operations
Finance
Business Development
Property Management
Contract Administration
Risk Management
Broker Relations
Real Estate Broker
Real Estate Agent
Property Consultant
Real Estate Sales Director
Brokerage Manager
Real Estate Sales Manager
Compliance Officer
Legal Counsel
Finance Manager
Operations Director
Business Development Manager
Property Sales Executive
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