Real Estate Agent Commission Sharing Agreement Template for New Zealand

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Key Requirements PROMPT example:

Real Estate Agent Commission Sharing Agreement

"I need a Real Estate Agent Commission Sharing Agreement for my Auckland-based agency to establish a 60/40 commission split arrangement with an independent contractor agent who will be joining us from March 2025, including provisions for both residential and commercial properties."

Document background
The Real Estate Agent Commission Sharing Agreement is essential for real estate professionals in New Zealand who collaborate on property transactions. This document is typically used when multiple agents or agencies work together to list and sell properties, requiring a formal structure for sharing commissions. It ensures compliance with the Real Estate Agents Act 2008 and other relevant New Zealand legislation while providing clarity on commission splits, payment terms, and operational procedures. The agreement is particularly valuable for situations involving co-listings, referrals, or inter-agency collaborations, helping prevent disputes and maintaining professional standards in the real estate industry.
Suggested Sections

1. Parties: Identifies the real estate agents or agencies entering into the commission sharing agreement

2. Background: Explains the context and purpose of the agreement, including the basis for collaboration

3. Definitions: Defines key terms used throughout the agreement including 'Commission', 'Property Transaction', 'Listing Agent', 'Selling Agent'

4. Term of Agreement: Specifies the duration of the agreement and any renewal provisions

5. Commission Sharing Structure: Details the agreed split of commission and calculation methodology

6. Payment Terms: Outlines when and how commission payments will be made between parties

7. Duties and Responsibilities: Specifies the obligations of each party in relation to property listings and sales

8. Compliance Requirements: Addresses regulatory compliance including Real Estate Agents Act requirements

9. Confidentiality: Provisions regarding handling of confidential information and client details

10. Dispute Resolution: Process for resolving any disputes between the parties

11. Termination: Conditions and process for terminating the agreement

12. General Provisions: Standard contractual provisions including governing law, notices, and amendments

Optional Sections

1. Cross-Border Transactions: Include when parties operate in different regions or jurisdictions

2. Referral Fee Structure: Include when the agreement covers referral fees in addition to commission sharing

3. Team Structure: Include when the agreement involves team-based commission sharing arrangements

4. Marketing Cost Sharing: Include when parties agree to share marketing and advertising costs

5. Non-Compete Provisions: Include when parties wish to restrict competitive activities

6. Professional Indemnity Insurance: Include when specific insurance requirements need to be maintained

7. Administrative Support Costs: Include when parties share administrative or support staff costs

Suggested Schedules

1. Commission Split Schedule: Detailed breakdown of commission split percentages for different transaction types

2. Property Categories: List of property types and any varying commission structures

3. Territory Map: Geographical areas covered by the agreement if territory-based

4. Calculation Examples: Examples of commission calculations for different scenarios

5. Agency Details: Complete business details and licenses of participating agencies

6. Authorized Representatives: List of authorized personnel who can act under the agreement

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 Industries

Real Estate

Property Management

Commercial Property

Residential Property

Legal Services

Professional Services

Property Development

Relevant Teams

Legal

Compliance

Sales

Operations

Administration

Business Development

Property Management

Contract Administration

Finance

Risk Management

Relevant Roles

Real Estate Agent

Branch Manager

Sales Manager

Agency Principal

Compliance Officer

Legal Counsel

Business Development Manager

Property Manager

Sales Director

Managing Director

Franchise Owner

Operations Manager

Commission Administrator

Contracts Manager

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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