Estate Agency Agreement Template for India

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Key Requirements PROMPT example:

Estate Agency Agreement

"I need an Estate Agency Agreement under Indian law for the exclusive sale of my residential property in Mumbai, with a 6-month term starting January 2025 and including digital marketing rights."

Document background

The Estate Agency Agreement is a crucial document in Indian real estate transactions that formalizes the relationship between property owners and real estate agents. It is primarily used when a property owner wishes to engage a professional real estate agent or agency to market and facilitate the sale or lease of their property. The agreement must comply with the Real Estate (Regulation and Development) Act, 2016 (RERA) and various state-specific regulations in India. This document typically includes detailed sections on service scope, commission structures, marketing responsibilities, and legal obligations. It's particularly important in protecting both parties' interests and ensuring clarity in their professional relationship, especially given the significant value of property transactions and the complex regulatory environment in India.

Suggested Sections

1. Parties: Identification of the property owner/seller and the real estate agent, including RERA registration details

2. Background: Context of the agreement, including property details and the owner's intention to sell/lease the property

3. Definitions: Key terms used throughout the agreement including Property, Services, Commission, etc.

4. Appointment and Scope of Services: Formal appointment of the agent and detailed description of services to be provided

5. Duration of Agreement: Term of the agreement, including start date and end date or renewal terms

6. Agent's Obligations: Detailed responsibilities of the agent including marketing, showing property, negotiating, etc.

7. Owner's Obligations: Property owner's responsibilities including providing accurate information and necessary documents

8. Commission Structure: Detailed breakdown of agent's commission, payment terms, and conditions for commission eligibility

9. Exclusivity: Whether the appointment is exclusive or non-exclusive and related terms

10. Termination: Conditions and process for terminating the agreement by either party

11. Confidentiality: Obligations regarding confidential information and its handling

12. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes

13. Notices: Process and addresses for serving formal notices between parties

Optional Sections

1. Sub-Agents: Include when the agent may need to appoint sub-agents or cooperate with other agents

2. Digital Marketing Rights: Include specific terms for online marketing and social media promotion when relevant

3. International Marketing: Include when targeting international buyers/tenants is part of the strategy

4. Property Management Services: Include when the agent will provide additional property management services

5. Force Majeure: Include specific provisions for unforeseen circumstances affecting performance

6. Post-Termination Obligations: Include when there are specific obligations that survive termination

7. Dispute Resolution: Include detailed arbitration or mediation procedures if preferred over court litigation

Suggested Schedules

1. Property Details: Detailed description of the property including address, specifications, and amenities

2. Commission Schedule: Detailed breakdown of commission rates, payment structures, and special circumstances

3. Marketing Plan: Specific marketing activities and timeline proposed by the agent

4. Required Documents: List of documents to be provided by the owner for marketing and sale/lease

5. Service Level Agreement: Specific performance metrics and service standards

6. Authority Documentation: Copies of RERA registration and other relevant licenses

7. Property Photos and Floor Plans: Approved images and plans for marketing purposes

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Property Management

Construction

Residential Housing

Commercial Property

Retail Property

Industrial Property

Hospitality

Legal Services

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Operations

Property Management

Marketing

Client Relations

Contract Administration

Relevant Roles

Real Estate Agent

Property Manager

Business Development Manager

Sales Director

Property Consultant

Legal Counsel

Compliance Officer

Contract Manager

Real Estate Broker

Property Development Manager

Real Estate Operations Manager

Transaction Coordinator

Marketing Manager

Client Relations Manager

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Authors

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