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Exclusive Agency Agreement Commission

Exclusive Agency Agreement Commission Template for Australia

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Key Requirements PROMPT example:

Exclusive Agency Agreement Commission

"I need an Exclusive Agency Agreement Commission for a luxury beachfront property in Sydney, with a 6-month exclusive period starting January 15, 2025, including specific provisions for international marketing and a tiered commission structure based on achieving price targets above $5 million."

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Document background
The Exclusive Agency Agreement Commission is a crucial document in Australian real estate transactions that establishes a binding relationship between a property owner (Principal) and a real estate agent. This agreement grants the agent exclusive rights to sell or lease the property for a specified period, typically used when a property owner wants to ensure focused, dedicated service from a single agent. The document includes detailed commission structures, marketing commitments, agent obligations, and compliance requirements with relevant state-specific real estate legislation and federal laws. It protects both parties' interests by clearly defining the scope of authority, payment terms, and service expectations, while incorporating necessary statutory notices and cooling-off periods as required by Australian law. This agreement type is particularly important in premium property markets or when specialized marketing strategies are required.
Suggested Sections

1. Parties: Identifies and provides full details of the Agent and the Principal (property owner)

2. Background: Outlines the context of the agreement, including property details and the Principal's intention to appoint the Agent

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Authority: Establishes the exclusive appointment of the Agent and scope of authority

5. Duration of Agreement: Specifies the term of the exclusive agency, including start and end dates

6. Agent's Obligations: Details the services and duties the Agent will perform

7. Principal's Obligations: Outlines the property owner's responsibilities and commitments

8. Commission Structure: Specifies the commission rate, calculation method, and payment terms

9. Marketing and Advertising: Details the agreed marketing strategy and associated costs

10. Property Details: Comprehensive description of the property being sold or leased

11. Termination: Conditions and process for ending the agreement

12. Dispute Resolution: Process for handling disagreements between parties

13. Governing Law: Specifies the applicable state law and jurisdiction

14. Execution: Formal signing section with attestation requirements

Optional Sections

1. Multiple Properties: Include when the agreement covers more than one property

2. Holdover Period: Specifies terms for commission if the property sells after agreement termination to a buyer introduced during the term

3. Special Conditions: For any unique terms or conditions specific to this agreement

4. GST Provisions: Detailed GST terms when applicable to the transaction

5. Conjunctional Arrangements: Terms for working with other agents while maintaining exclusivity

6. Digital Marketing Addendum: Specific terms for digital and social media marketing when extensive online promotion is planned

7. Property Management: Include when the agent will also manage the property if not sold within a specified period

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property, including title details, inclusions, and exclusions

2. Schedule 2 - Commission Structure: Detailed breakdown of commission rates, including any sliding scales or bonus structures

3. Schedule 3 - Marketing Plan: Comprehensive marketing strategy and budget breakdown

4. Schedule 4 - Agency Services: Detailed list of services to be provided by the agent

5. Appendix A - Required Statutory Notices: State-specific statutory notices and disclaimers

6. Appendix B - Marketing Material Examples: Samples or templates of proposed marketing materials

7. Appendix C - Fee Schedule: Breakdown of all potential fees and charges beyond the commission

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Property Investment

Property Management

Real Estate Investment Trusts (REITs)

Asset Management

Relevant Teams

Legal

Sales

Operations

Compliance

Marketing

Business Development

Property Management

Contract Administration

Risk Management

Relevant Roles

Real Estate Agent

Property Manager

Sales Director

Business Development Manager

Legal Counsel

Compliance Officer

Contract Administrator

Property Consultant

Agency Principal

Sales Manager

Marketing Manager

Operations Manager

Commercial Property Agent

Residential Sales Agent

General Manager

Industries
Competition and Consumer Act 2010 (Cth): Federal law governing competition and consumer protection, including provisions about exclusive dealing arrangements and unfair contract terms
Australian Consumer Law (Schedule 2 of the Competition and Consumer Act): Provides consumer protections, including rules about misleading and deceptive conduct, unfair contract terms, and statutory guarantees
Property and Stock Agents Act 2002 (NSW): State-specific legislation governing real estate agents' conduct, including requirements for agency agreements and commission structures (example for NSW, similar acts exist in other states)
Electronic Transactions Act 1999 (Cth): Governs the validity of electronic transactions and signatures, relevant for modern agency agreements
Real Estate and Business Agents Act 1978 (WA): Western Australia's specific legislation governing real estate agents and agency agreements (example of state-specific legislation)
Estate Agents Act 1980 (VIC): Victorian legislation governing estate agents' conduct and agency agreements (example of state-specific legislation)
Contract Law - Common Law Principles: Australian common law principles governing contract formation, terms, and enforcement
Privacy Act 1988 (Cth): Federal legislation governing the collection, use, and disclosure of personal information in business relationships
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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