Agreement Between Real Estate Agent And Seller Template for India

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Key Requirements PROMPT example:

Agreement Between Real Estate Agent And Seller

"I need an Agreement Between Real Estate Agent And Seller for my luxury residential property in Mumbai, with exclusive rights to one agent for 6 months starting January 2025, including international marketing provisions and a tiered commission structure based on final sale price."

Document background
The Agreement Between Real Estate Agent And Seller is a crucial document in Indian real estate transactions, designed to formalize the professional relationship between property sellers and their chosen real estate agents. This agreement is particularly important in the Indian context, where real estate transactions must comply with the Real Estate (Regulation and Development) Act, 2016 (RERA) and other relevant legislation. It is used when a property owner wishes to engage a professional agent to market and sell their property, establishing clear terms for representation, commission, and services. The document typically includes detailed provisions for property marketing, pricing strategy, commission structure, and the respective obligations of both parties. It serves as a protective mechanism for both the seller and agent, ensuring transparency and legal compliance in the property sale process.
Suggested Sections

1. Parties: Identifies and provides full details of the seller(s) and the real estate agent/agency, including RERA registration numbers

2. Background: Outlines the context of the agreement, including brief property details and the seller's intention to engage the agent

3. Definitions: Defines key terms used throughout the agreement including Property, Services, Commission, Exclusive Rights, etc.

4. Appointment and Scope of Services: Details the appointment of the agent and comprehensive list of services to be provided

5. Term of Agreement: Specifies the duration of the agreement, including start date and end date

6. Agent's Rights and Obligations: Lists all duties, responsibilities and rights of the agent including marketing efforts, showing property, etc.

7. Seller's Rights and Obligations: Outlines the seller's responsibilities, including providing accurate information and property access

8. Commission Structure: Details the commission rate, payment terms, and conditions for commission becoming due

9. Marketing and Advertising: Specifies the agreed marketing strategy and advertising arrangements

10. Property Price: States the agreed listing price and conditions for price modifications

11. Representations and Warranties: Contains statements of fact and guarantees from both parties

12. Termination: Outlines conditions and process for terminating the agreement

13. Governing Law and Jurisdiction: Specifies that Indian law governs the agreement and establishes jurisdiction for disputes

14. Notices: Specifies how formal communications between parties should be made and delivered

Optional Sections

1. Exclusivity Clause: Used when the seller grants exclusive rights to the agent for the property sale

2. Multiple Property Provisions: Include when the agreement covers multiple properties

3. Sub-Agency Rights: Used when the agent may need to involve other agents or brokers

4. Special Marketing Requirements: Include for luxury properties or those requiring specific marketing approaches

5. Post-Termination Obligations: Used when there's need to protect agent's interests after agreement ends

6. Force Majeure: Include during uncertain times or in areas prone to disruptions

7. Digital Marketing Rights: Used when specific digital marketing provisions need to be detailed

8. International Marketing: Include when property will be marketed to international buyers

Suggested Schedules

1. Schedule A - Property Details: Detailed description of the property including address, boundaries, registration details, and amenities

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

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

4. Schedule D - Property Documentation: List of all property-related documents provided by the seller

5. Schedule E - Approved Property Listing Price: Agreed listing price and any conditions for price adjustments

6. Appendix 1 - RERA Compliance Checklist: Checklist ensuring compliance with RERA requirements

7. Appendix 2 - Required Property Disclosures: Mandatory disclosures about property condition and legal status

8. Appendix 3 - Service Level Agreement: Detailed performance metrics and service standards for the agent

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

Construction

Property Management

Real Estate Investment

Commercial Property

Residential Property

Luxury Real Estate

Real Estate Technology

Property Consulting

Relevant Teams

Legal

Real Estate Sales

Compliance

Property Management

Business Development

Operations

Documentation

Marketing

Transaction Processing

Contract Administration

Relevant Roles

Real Estate Agent

Property Broker

Real Estate Sales Manager

Property Consultant

Real Estate Business Development Manager

Legal Counsel

Property Sales Director

Compliance Officer

Real Estate Transaction Manager

Property Marketing Manager

Real Estate Operations Manager

Contract Administrator

Real Estate Documentation Specialist

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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