Co Broker Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Co Broker Agreement

"I need a Co-Broker Agreement for my Dubai-based real estate agency to collaborate with an Abu Dhabi broker, focusing on luxury residential properties with a 60-40 commission split and exclusive territory rights."

Document background
The Co-Broker Agreement is essential for real estate professionals operating in the United Arab Emirates who wish to collaborate on property transactions while maintaining compliance with local regulations. This document is typically used when two or more licensed brokers or brokerage firms decide to work together to maximize their market reach and efficiency. It addresses key aspects required by UAE Federal Law No. 39 of 2006 and RERA regulations, including commission structures, professional obligations, and compliance requirements. The agreement becomes particularly relevant in major UAE real estate markets like Dubai and Abu Dhabi, where complex transactions often require broker collaboration. It provides a clear framework for sharing responsibilities, managing client relationships, and distributing commissions while protecting each party's interests and ensuring regulatory compliance.
Suggested Sections

1. Parties: Identification of the co-brokers entering into the agreement, including their license numbers and registration details as per UAE regulations

2. Background: Context of the agreement and confirmation of brokers' credentials and authority to practice in the UAE

3. Definitions: Key terms used throughout the agreement, including specific real estate and local market terminology

4. Scope of Agreement: Definition of the collaboration terms and geographical areas covered

5. Commission Structure: Details of commission splits and payment terms between co-brokers

6. Roles and Responsibilities: Specific duties and obligations of each broker in the co-broking relationship

7. Confidentiality: Provisions regarding handling of confidential information and client data

8. Term and Termination: Duration of the agreement and conditions for termination

9. Professional Standards: Compliance requirements with RERA and other applicable regulations

10. Dispute Resolution: Process for resolving disagreements between parties

11. Governing Law: Specification of UAE law as governing law and relevant jurisdiction

Optional Sections

1. Exclusivity: Terms of exclusive cooperation for specific properties or clients, used when brokers agree to work exclusively on certain deals

2. International Transactions: Special provisions for dealing with international clients or properties, included when brokers handle cross-border transactions

3. Marketing Arrangements: Guidelines for joint marketing efforts and cost sharing, included when brokers plan collaborative marketing

4. Sub-Brokerage: Terms for engaging sub-brokers, used when allowing delegation to other licensed brokers

5. Insurance Requirements: Specific insurance obligations beyond standard requirements, included for high-value or specialized properties

6. Non-Compete Provisions: Restrictions on competitive activities, included when parties agree to territorial or client restrictions

7. Data Protection: Additional provisions for handling personal data, particularly relevant when dealing with international clients or digital platforms

Suggested Schedules

1. Schedule 1 - Commission Structure: Detailed breakdown of commission splits for different types of transactions

2. Schedule 2 - Territory Map: Geographical areas covered by the co-broking arrangement

3. Schedule 3 - Required Licenses: Copies of current broker licenses and RERA registrations

4. Schedule 4 - Standard Operating Procedures: Detailed procedures for handling joint listings and clients

5. Appendix A - Marketing Guidelines: Specific rules and standards for joint marketing activities

6. Appendix B - Documentation Requirements: List of required documents for various transaction types

7. Appendix C - Contact Information: Key contacts and escalation matrix for both parties

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

Clauses
Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial Property

Retail Property

Hospitality Property

Mixed-Use Development

Property Management

Real Estate Investment

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Operations

Property Management

Partner Relations

Contract Administration

Relevant Roles

Real Estate Broker

Property Consultant

Real Estate Agent

Sales Director

Business Development Manager

Managing Director

Real Estate Manager

Compliance Officer

Legal Counsel

Operations Manager

Branch Manager

Senior Property Advisor

Real Estate Partnership Manager

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

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