Exclusive Seller Brokerage Engagement Agreement Template for Nigeria

The Exclusive Seller Brokerage Engagement Agreement is a critical document used in Nigerian real estate transactions when a property owner wishes to grant exclusive selling rights to a professional brokerage firm. This agreement is particularly important in the Nigerian market where real estate transactions require careful documentation and compliance with various regulations, including the Estate Agents and Brokers Registration Act and Money Laundering (Prohibition) Act. The document establishes the terms under which the broker will exclusively represent the seller, including the scope of services, commission structure, marketing strategies, and duration of the exclusive period. It provides protection for both the broker's interests in securing their commission and the seller's interests in ensuring professional representation. This type of agreement is commonly used for high-value properties or when sellers seek dedicated, focused attention from a single brokerage firm.

1. Parties: Identifies and provides full details of the property owner/seller and the brokerage firm, including registration numbers and contact information

2. Background: Explains the context of the agreement, including the seller's intention to sell the property and the broker's qualifications

3. Definitions: Defines key terms used throughout the agreement, including 'Property', 'Exclusive Period', 'Listing Price', and 'Commission'

4. Appointment and Scope: Establishes the exclusive appointment of the broker and details the specific services to be provided

5. Property Details: Comprehensive description of the property being listed, including legal description and current condition

6. Listing Price and Terms: Specifies the agreed listing price and acceptable terms of sale

7. Broker's Rights and Obligations: Details the broker's responsibilities, marketing commitments, and reporting obligations

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

9. Commission Structure: Details the commission rate, payment terms, and conditions under which commission becomes payable

10. Duration and Exclusivity: Specifies the length of the exclusive period and any automatic renewal provisions

11. Marketing Authorization: Grants specific permissions for marketing activities and use of property information

12. Representations and Warranties: Contains statements of fact and promises made by both parties

13. Termination: Outlines conditions and procedures for ending the agreement

14. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and defines jurisdiction for disputes

15. Entire Agreement: Confirms the agreement represents the complete understanding between parties