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Commission Split Agreement Between Agents
"I need a Commission Split Agreement Between Agents for a senior-junior agent arrangement within my Hong Kong real estate agency, where the senior agent will receive 70% of commissions for the first 6 months starting January 2025, with the split gradually moving to 50-50 over the following year."
1. Parties: Identification of the agents entering into the agreement, including their license numbers and agency affiliations
2. Background: Context of the agreement, including the purpose and nature of the collaboration
3. Definitions: Key terms used throughout the agreement, including 'Commission', 'Transaction', 'Client', etc.
4. Commission Split Structure: Details of how commissions will be divided between the agents, including percentages or fixed ratios
5. Duties and Responsibilities: Specific roles and obligations of each agent in the collaboration
6. Term and Termination: Duration of the agreement and conditions for termination
7. Payment Terms: Process and timing for commission calculations and payments
8. Confidentiality: Obligations regarding client information and business secrets
9. Dispute Resolution: Process for resolving disagreements between the agents
10. Governing Law: Specification of Hong Kong law as the governing law
1. Team Operation Guidelines: Include when agents are forming a team structure rather than a simple partnership
2. Cross-Agency Protocols: Required when agents from different agencies are collaborating
3. Marketing and Branding: Include when there are specific arrangements about shared marketing efforts and brand usage
4. Training and Support: Add when senior agents are providing mentoring or training to junior agents
5. Non-Compete Provisions: Include when there are restrictions on working with other agents or agencies
6. Client Allocation: Add when specific rules about client assignment and handling are needed
1. Schedule 1 - Commission Split Calculations: Detailed breakdown of commission split percentages for different types of transactions
2. Schedule 2 - Covered Properties: List of properties or property types covered under the agreement
3. Schedule 3 - Expense Sharing: Breakdown of shared business expenses and allocation between agents
4. Appendix A - Required Forms: Standard forms and templates to be used for commission calculations and payments
5. Appendix B - Compliance Checklist: Checklist ensuring compliance with Estate Agents Ordinance requirements
Authors
Agency
Applicable Laws
Business Day
Client
Commission
Commission Split
Confidential Information
Effective Date
Estate Agency Work
Gross Commission
Joint Marketing
Lead Agent
Licensed Estate Agent
Net Commission
Participating Agent
Property
Qualifying Transaction
Real Estate Transaction
Referral Fee
Service Period
Split Ratio
Successful Transaction
Team Leader
Territory
Transaction Date
Working Relationship
Term and Duration
Commission Structure
Payment Terms
Duties and Obligations
Client Management
Confidentiality
Non-Competition
Non-Solicitation
Record Keeping
Marketing and Branding
Regulatory Compliance
Intellectual Property
Dispute Resolution
Force Majeure
Termination
Assignment
Notices
Severability
Entire Agreement
Governing Law
Data Protection
Warranties and Representations
Indemnification
Amendment
Third Party Rights
Real Estate
Property Development
Property Management
Professional Services
Financial Services
Property Investment
Real Estate Sales
Legal
Compliance
Finance
Operations
Property Management
Marketing
Administration
Real Estate Agent
Senior Real Estate Agent
Property Consultant
Real Estate Team Leader
Branch Manager
Agency Director
Compliance Officer
Legal Counsel
Finance Manager
Operations Manager
Property Marketing Specialist
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