Real Estate Broker Contract Template for India

The Real Estate Broker Contract is a crucial document used in Indian real estate transactions to formalize the relationship between real estate brokers/agents and their clients. This contract type is essential for compliance with the Real Estate (Regulation and Development) Act, 2016 (RERA) and various state-specific regulations in India. It is used when property owners, developers, or buyers wish to engage professional real estate services for property transactions. The document typically includes detailed provisions about service scope, commission structures, exclusive rights (if any), marketing responsibilities, and compliance requirements. It's particularly important in the Indian context where real estate transactions require careful documentation and regulatory compliance, especially since RERA's implementation has standardized many aspects of real estate services.

1. Parties: Identification of the broker/brokerage firm and the client (seller/buyer/lessor/lessee), including registration numbers, addresses, and contact details

2. Background: Context of the agreement, including brief description of the property and the purpose of engaging the broker

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

4. Scope of Services: Detailed description of services to be provided by the broker, including marketing, showing property, negotiation assistance, etc.

5. Term and Termination: Duration of the agreement, renewal terms, and conditions for termination by either party

6. Broker's Rights and Obligations: Detailed responsibilities of the broker including RERA compliance, professional conduct, and service standards

7. Client's Rights and Obligations: Client's responsibilities including providing accurate information, access to property, and cooperation

8. Commission Structure: Detailed breakdown of commission rates, payment terms, and conditions for commission becoming due

9. Representations and Warranties: Statements of fact by both parties regarding their capacity, authority, and compliance with laws

10. Confidentiality: Obligations regarding confidential information shared during the engagement

11. Dispute Resolution: Process for resolving disputes, including mediation and arbitration procedures

12. Governing Law: Specification of Indian law and relevant state jurisdiction governing the agreement

13. General Provisions: Standard clauses including notices, amendments, severability, and entire agreement