Commercial Real Estate Commission Agreement Generator for Australia

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Key Requirements PROMPT example:

Commercial Real Estate Commission Agreement

"I need a Commercial Real Estate Commission Agreement for a portfolio of retail properties in New South Wales, with a tiered commission structure based on property value and a performance bonus for achieving sales above asking price, to be effective from March 2025."

Document background
The Commercial Real Estate Commission Agreement is a crucial document used in Australian commercial property transactions to formalize the engagement of real estate agents or agencies. It is specifically designed for commercial property dealings, whether for sales or leasing, and sets out the commission structure, payment terms, and service expectations. This agreement is essential when property owners seek professional representation for their commercial properties and need to establish clear terms for commission payments. The document ensures compliance with Australian federal and state-specific real estate regulations, including Property and Stock Agents Act requirements and relevant fair trading laws. It provides protection for both parties by clearly defining the scope of authority, commission triggers, and payment obligations while addressing specific commercial real estate considerations such as exclusive agency periods and marketing commitments.
Suggested Sections

1. Parties: Identification of the property owner/seller and the real estate agent/agency

2. Background: Context of the agreement, including property details and purpose of engagement

3. Definitions: Key terms used throughout the agreement, including commission types, property transaction definitions, and relevant industry terms

4. Appointment and Authority: Formal appointment of the agent and scope of authority granted

5. Agent's Services: Detailed description of services to be provided by the agent

6. Commission Structure: Base commission rates and calculation methods

7. Payment Terms: Timing and method of commission payments, including conditions precedent

8. Agent's Obligations: Legal and professional obligations of the agent, including compliance requirements

9. Client's Obligations: Responsibilities and obligations of the property owner

10. Term and Termination: Duration of agreement and circumstances for termination

11. Confidentiality: Confidentiality obligations regarding property and transaction details

12. Dispute Resolution: Process for resolving disputes between parties

13. General Provisions: Standard legal provisions including governing law, notices, and entire agreement

Optional Sections

1. Marketing Budget and Expenses: Used when specific marketing commitments and cost arrangements need to be detailed

2. Performance Targets: Include when specific performance metrics or KPIs are part of the agreement

3. Sub-agency Arrangements: Required when the agent may need to engage other agents or agencies

4. International Marketing: Include for properties targeting international buyers/tenants

5. Multiple Property Provisions: Used when the agreement covers multiple properties

6. Success Fee Structure: Include when additional performance-based fees apply

7. Exclusive Agency Terms: Used for exclusive agency arrangements

8. Online Listing Provisions: Include specific terms for digital marketing and online listings

Suggested Schedules

1. Property Details Schedule: Detailed description of the property, including title details, improvements, and current lease arrangements

2. Commission Rate Schedule: Detailed breakdown of commission rates, including any sliding scales or tiered structures

3. Services Schedule: Comprehensive list of included and excluded services

4. Marketing Plan: Detailed marketing strategy and budget allocation

5. Agency Team Schedule: Key personnel assigned to the property

6. Expense Schedule: Breakdown of recoverable and non-recoverable expenses

7. Required Forms and Notices: State-specific statutory forms and notices

8. Commission Examples: Worked examples of commission calculations for different scenarios

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
Relevant Industries

Commercial Real Estate

Retail Property

Industrial Property

Office Property

Mixed-Use Development

Property Development

Real Estate Investment

Property Management

Commercial Property Leasing

Shopping Center Management

Logistics and Warehouse

Business Parks

Relevant Teams

Legal

Real Estate

Property Management

Asset Management

Operations

Business Development

Facilities

Risk Management

Compliance

Finance

Investment

Acquisitions

Contract Administration

Relevant Roles

Commercial Real Estate Agent

Property Manager

Real Estate Director

Commercial Leasing Manager

Real Estate Broker

Business Development Manager

Asset Manager

Property Portfolio Manager

Commercial Property Consultant

Real Estate Operations Manager

Legal Counsel

Contracts Manager

Real Estate Transaction Manager

Investment Manager

Facilities 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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