Co Broker Listing Agreement Template for Canada

This document establishes a formal agreement between two real estate brokerages in Canada to cooperatively list and market a property for sale. It outlines the terms of collaboration, including commission splitting arrangements, marketing responsibilities, client communication protocols, and dispute resolution mechanisms. The agreement ensures compliance with Canadian federal and provincial real estate regulations, particularly adhering to the Real Estate and Business Brokers Act (REBBA) and relevant provincial real estate council rules. It includes specific provisions for shared responsibilities, marketing efforts, and client relationship management while maintaining professional standards and ethical guidelines established by Canadian real estate authorities.

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What is a Co Broker Listing Agreement?

The Co Broker Listing Agreement is essential when two real estate brokerages in Canada decide to collaborate on listing and selling a property. This document becomes necessary when brokerages want to combine their resources, expertise, and market reach to maximize a property's exposure and potential for sale. The agreement is structured to comply with Canadian real estate regulations and provincial licensing requirements, providing a clear framework for commission sharing, defining marketing responsibilities, and establishing protocols for client communication. It's particularly valuable in situations where properties can benefit from the combined networks and capabilities of multiple brokerages, or when specialized market knowledge from different brokerages can enhance the selling process. The document includes crucial details about listing terms, marketing strategies, commission structures, and dispute resolution mechanisms, all while ensuring compliance with Canadian real estate laws and professional standards.

What sections should be included in a Co Broker Listing Agreement?

1. Parties: Identification of the cooperating brokers/brokerages entering into the agreement

2. Background: Context of the agreement and general purpose of the co-brokerage arrangement

3. Definitions: Key terms used throughout the agreement including 'Listed Property', 'Commission', 'Listing Period', etc.

4. Term of Agreement: Duration of the co-brokerage relationship including start and end dates

5. Listing Terms: Details of how the property will be listed and marketed by both brokers

6. Commission Structure: Breakdown of commission rates and sharing arrangement between brokers

7. Roles and Responsibilities: Specific duties and obligations of each broker in the co-listing arrangement

8. Marketing and Advertising: Terms regarding joint marketing efforts and brand representation

9. Client Communication: Protocols for communicating with clients and handling inquiries

10. Confidentiality: Terms regarding handling of confidential information and client data

11. Termination: Conditions and process for ending the co-brokerage relationship

12. Dispute Resolution: Procedures for resolving conflicts between the brokers

13. Governing Law: Specification of applicable jurisdiction and legal framework

14. Execution: Signature blocks and execution requirements

What sections are optional to include in a Co Broker Listing Agreement?

1. Digital Marketing Services: Additional terms for online marketing and social media promotion, used when specific digital marketing strategies are agreed upon

2. Professional Photography: Terms regarding sharing costs and usage rights for professional photography, used when special photography services are required

3. Open House Coordination: Specific arrangements for conducting open houses, used when regular open houses are planned

4. International Marketing: Special provisions for international marketing efforts, used when targeting international buyers

5. Property Management: Terms for managing the property during the listing period, used for vacant properties or those requiring special management

6. Post-Sale Services: Additional services to be provided after sale, used when brokers agree to provide post-closing support

7. Referral Network: Terms for sharing and managing referrals, used when brokers have extensive referral networks

What schedules should be included in a Co Broker Listing Agreement?

1. Schedule A - Property Details: Detailed description of the property or properties covered under the agreement

2. Schedule B - Commission Structure: Detailed breakdown of commission rates, splits, and payment terms

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

4. Schedule D - Broker Responsibilities Matrix: Detailed breakdown of specific tasks and responsibilities assigned to each broker

5. Appendix 1 - Required Documentation: List of required documents and forms to be used in the co-brokerage arrangement

6. Appendix 2 - Branding Guidelines: Guidelines for use of broker logos, names, and branding in joint marketing

7. Appendix 3 - Contact Protocol: Detailed protocol for client communications and lead handling

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

Jurisdiction

Canada

Publisher

Genie AI

Document Type

Broker Agreement

Cost

Free to use

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