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Real Estate Agent Contract With Broker

Real Estate Agent Contract With Broker Template for Saudi Arabia

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Key Requirements PROMPT example:

Real Estate Agent Contract With Broker

"I need a Real Estate Agent Contract with Broker for my Riyadh-based brokerage firm that will handle luxury residential properties, with a particular focus on exclusive listings and a 60-40 commission split in favor of the agent."

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Document background
The Real Estate Agent Contract With Broker is a crucial document used in Saudi Arabia to formalize the relationship between real estate brokers and their agents. This agreement is essential for compliance with Saudi Arabian real estate regulations, particularly the Real Estate Broker Law and related commercial legislation. It is typically used when a licensed broker wishes to engage real estate agents to operate under their supervision and license. The document encompasses vital elements including commission structures, operational procedures, compliance requirements, and dispute resolution mechanisms, all aligned with Shari'ah principles. It serves as a foundational document for real estate professionals operating in Saudi Arabia, ensuring clear delineation of rights, responsibilities, and regulatory obligations while protecting both parties' interests in accordance with local law.
Suggested Sections

1. Parties: Identification of the broker and real estate agent, including license numbers and contact details

2. Background: Context of the agreement and the intention to establish a broker-agent relationship

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Appointment and Scope: Formal appointment of the agent and detailed scope of authorized activities

5. Term of Agreement: Duration of the agreement, including start date and initial term

6. Broker's Obligations: Comprehensive list of broker's duties, responsibilities, and support services

7. Agent's Obligations: Detailed responsibilities of the agent, including compliance requirements and performance standards

8. Commission Structure: Detailed breakdown of commission rates, payment terms, and calculation methods

9. Compliance Requirements: Obligations to comply with Saudi real estate laws, anti-money laundering requirements, and other regulations

10. Confidentiality: Provisions regarding confidential information and client data protection

11. Non-Competition: Restrictions on competitive activities during and after the agreement

12. Termination: Grounds and procedures for termination, including notice requirements

13. Governing Law: Specification of Saudi law and Shari'ah principles as governing law

14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction of Saudi courts

Optional Sections

1. Training Requirements: Specific training obligations and professional development requirements, included when the broker provides training programs

2. Marketing Support: Details of marketing and advertising support provided by the broker, included when specific marketing arrangements are agreed

3. Insurance Requirements: Specific insurance obligations beyond statutory requirements, included when additional coverage is required

4. Performance Targets: Specific sales or performance targets, included when the agreement is performance-based

5. Sub-Agents: Provisions regarding the appointment and management of sub-agents, included when sub-agents are permitted

6. International Transactions: Special provisions for international real estate transactions, included when dealing with international properties

Suggested Schedules

1. Commission Schedule: Detailed breakdown of commission rates for different types of transactions

2. Territory Schedule: Definition of geographical areas or market segments covered by the agreement

3. Required Documentation: List of mandatory documentation for transactions and compliance

4. Broker's Services: Detailed list of support services provided by the broker

5. Compliance Procedures: Step-by-step procedures for regulatory compliance

6. Professional Standards: Detailed professional conduct and performance standards

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions






































Clauses




































Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Property Management

Real Estate Investment

Property Consultancy

Real Estate Brokerage

Relevant Teams

Legal

Compliance

Real Estate Operations

Business Development

Risk Management

Property Management

Contract Administration

Corporate Affairs

Business Operations

Relevant Roles

Real Estate Broker

Real Estate Agent

Property Consultant

Legal Counsel

Compliance Officer

Real Estate Manager

Business Development Manager

Operations Manager

Contract Administrator

Risk Manager

Property Portfolio Manager

Real Estate Director

Industries






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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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