Co Broker Agreement Template for Australia

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Key Requirements PROMPT example:

Co Broker Agreement

"I need a Co-Broker Agreement for a collaboration between my Sydney-based residential real estate agency and a Melbourne firm, with a focus on luxury properties valued over $2M and a 60-40 commission split for cross-city referrals."

Document background
The Co-Broker Agreement is essential for real estate professionals in Australia seeking to establish formal collaborative relationships with other brokers or agencies. This document is typically used when two or more licensed real estate professionals or firms wish to work together on property transactions, share listings, or expand their market reach while maintaining compliance with Australian real estate regulations. The agreement covers crucial aspects such as commission splitting arrangements, territorial rights, confidentiality requirements, and professional obligations. It serves as a protective mechanism for all parties involved by clearly defining roles, responsibilities, and financial arrangements, while ensuring adherence to relevant Australian property laws and professional standards. The document is particularly valuable for brokers looking to leverage each other's expertise, market presence, or client base while maintaining clear operational boundaries and professional standards.
Suggested Sections

1. Parties: Identification of the co-broking parties, including full legal names, business addresses, and licensing details

2. Background: Context of the agreement, including the purpose of the co-broking arrangement and general business objectives

3. Definitions: Definitions of key terms used throughout the agreement

4. Term and Termination: Duration of the agreement, renewal provisions, and circumstances for termination

5. Scope of Cooperation: Details of how the brokers will work together, including territory and property type specifications

6. Commission Structure: Framework for commission sharing, including rates, calculation methods, and payment terms

7. Responsibilities and Obligations: Specific duties and responsibilities of each broker

8. Confidentiality: Protection of confidential information and client data

9. Professional Standards: Requirements for maintaining professional standards, licenses, and compliance with regulations

10. Dispute Resolution: Process for resolving disputes between the parties

11. Governing Law: Specification of Australian law and relevant jurisdiction

12. General Provisions: Standard legal provisions including notices, amendments, and severability

Optional Sections

1. International Transactions: Include when dealing with international properties or overseas clients

2. Specialized Property Types: Include when focusing on specific property categories (commercial, industrial, luxury)

3. Marketing and Advertising: Include when specific marketing arrangements need to be detailed

4. Data Protection: Include when handling significant amounts of personal data or operating across jurisdictions

5. Insurance Requirements: Include when specific insurance coverage needs to be mandated

6. Training and Support: Include when one broker will provide training or support to the other

7. Exclusivity Provisions: Include when establishing exclusive territories or client relationships

Suggested Schedules

1. Schedule A - Commission Structure: Detailed breakdown of commission rates, splits, and calculation methods

2. Schedule B - Territory Definition: Maps and descriptions of geographic territories if applicable

3. Schedule C - Property Types: List of property types covered under the agreement

4. Schedule D - Service Standards: Detailed service level expectations and performance metrics

5. Schedule E - Contact Details: Key personnel and emergency contact information

6. Appendix 1 - Required Licenses: Copies of current broker licenses and certifications

7. Appendix 2 - Standard Forms: Templates for common documents used in co-broking arrangements

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

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Management

Commercial Property

Residential Property

Industrial Property

Luxury Real Estate

Property Development

Property Investment

Relevant Teams

Legal

Real Estate Sales

Property Management

Operations

Compliance

Business Development

Contract Administration

Risk Management

Relevant Roles

Real Estate Broker

Property Manager

Real Estate Agent

Sales Director

Business Development Manager

Compliance Officer

Real Estate Partner

Managing Director

Operations Manager

Legal Counsel

Contract Administrator

Agency Principal

Licensed Real Estate Agent

Commercial Property 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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