Real Estate Broker Agreement Template for Australia

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Key Requirements PROMPT example:

Real Estate Broker Agreement

"I need a Real Estate Broker Agreement for my company's exclusive rights to market and sell a portfolio of five commercial properties in Sydney, with specific provisions for international marketing and a performance-based commission structure."

Document background
This Real Estate Broker Agreement is designed for use in Australian jurisdictions where property transactions require formal documentation of the broker-client relationship. It serves as the primary contract establishing the terms of engagement between licensed real estate professionals and their clients, whether for property sales, leasing, or management services. The document incorporates requirements from various Australian legislative frameworks, including the Property and Stock Agents Act, Australian Consumer Law, and state-specific real estate regulations. It is particularly important for ensuring compliance with statutory obligations, defining service scope, establishing commission structures, and protecting both parties' interests in property transactions. The agreement is adaptable for various property types and can be customized for different service levels while maintaining compliance with Australian legal requirements.
Suggested Sections

1. Parties: Identification of the broker/agency and the client with full legal names and contact details

2. Background: Context of the agreement, including brief description of the property services required

3. Definitions and Interpretation: Key terms used in the agreement and rules for interpreting the document

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

5. Broker Services: Detailed description of services to be provided by the broker

6. Client Obligations: Responsibilities and obligations of the client including providing accurate information

7. Commission and Fees: Detailed breakdown of commission structure, fees, and payment terms

8. Marketing and Advertising: Terms regarding property marketing, advertising approaches, and associated costs

9. Term and Termination: Duration of the agreement and circumstances for termination

10. Confidentiality: Obligations regarding confidential information and privacy requirements

11. Compliance with Laws: Commitment to comply with relevant real estate and property laws

12. Liability and Indemnity: Limitations of liability and indemnification provisions

13. Dispute Resolution: Process for handling disputes between parties

14. General Provisions: Standard contract clauses including notices, amendments, and governing law

Optional Sections

1. Exclusive Agency Terms: Used when the agreement is for exclusive agency rights, defining the exclusivity period and terms

2. Multiple Property Management: Include when the broker will manage multiple properties for the client

3. International Marketing: Specific provisions for marketing properties to international buyers

4. Property Development Services: Additional terms for when the broker provides services related to property development

5. Auction Services: Specific terms and conditions when auction services are included

6. Property Management Services: Detailed terms for ongoing property management services if applicable

7. Special Conditions: Any unique requirements or conditions specific to the particular engagement

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property(ies) covered by the agreement

2. Schedule 2 - Fee Schedule: Comprehensive breakdown of all fees, commissions, and charges

3. Schedule 3 - Marketing Plan: Detailed marketing strategy and advertising plan

4. Schedule 4 - Service Level Agreement: Specific performance metrics and service standards

5. Schedule 5 - Required Forms: Statutory forms required under relevant state/territory real estate legislation

6. Appendix A - Agency Credentials: Broker's licenses, certifications, and professional memberships

7. Appendix B - Terms Dictionary: Extended definitions and explanations of technical terms

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 Development

Commercial Property

Residential Property

Retail Property

Industrial Property

Property Investment

Property Management

Construction

Hospitality

Healthcare Real Estate

Agricultural Real Estate

Relevant Teams

Legal

Compliance

Real Estate Sales

Property Management

Operations

Business Development

Risk Management

Contract Administration

Corporate Services

Client Relations

Relevant Roles

Real Estate Agent

Property Manager

Sales Director

Business Development Manager

Commercial Property Agent

Legal Counsel

Compliance Officer

Contract Administrator

Real Estate Broker

Managing Director

Operations Manager

Property Consultant

Agency Principal

Sales Manager

Chief Executive Officer

Risk Manager

Industries
Property and Stock Agents Act 2002: Main legislation governing real estate agents' licensing, conduct, and obligations in Australia. Covers requirements for agency agreements, professional conduct, trust accounts, and client money handling.
Australian Consumer Law (Schedule 2 of the Competition and Consumer Act 2010): Provides consumer protections and fair trading provisions, including prohibitions on misleading or deceptive conduct, unconscionable conduct, and unfair contract terms.
Privacy Act 1988: Regulates how personal information must be collected, used, stored and disclosed, particularly relevant for handling client data and property information.
Anti-Money Laundering and Counter-Terrorism Financing Act 2006: Requires real estate agents to verify client identity and report suspicious transactions as part of Australia's AML/CTF regime.
Real Estate and Business Agents Act 1978: State-specific legislation (varies by state) governing real estate agency practice, including requirements for agency agreements and professional conduct.
Electronic Transactions Act 1999: Governs the validity of electronic contracts and signatures, particularly relevant for modern real estate transactions.
Anti-Discrimination Act 1977: Prohibits discrimination in the provision of services, including real estate services, on various grounds including race, gender, disability, etc.
Australian Contract Law (Common Law): General principles of contract law governing formation, terms, conditions, and enforcement of agreements.
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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