Agreement Between Broker And Owner

Agreement Between Broker And Owner Template for United Arab Emirates

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Key Requirements PROMPT example:

I need an Agreement Between Broker And Owner for my luxury residential property in Dubai Marina, granting exclusive rights to the broker for 6 months starting January 2025, with specific provisions for international marketing and virtual tours.

Document background

The Agreement Between Broker And Owner is a fundamental document in UAE real estate transactions, used when a property owner wishes to engage a licensed real estate broker to market, sell, or lease their property. This agreement is essential for compliance with UAE Federal Law No. 39 of 2006 and RERA regulations, which mandate specific requirements for real estate brokerage relationships. The document typically includes detailed provisions about the property, commission structures, marketing rights, and obligations of both parties. It's particularly important in the UAE market where real estate transactions must follow strict regulatory guidelines and where brokers must be licensed and registered with relevant authorities. The agreement provides legal protection for both parties and ensures clarity in their professional relationship, especially regarding commission payments and exclusive rights arrangements.

Suggested Sections

1. Parties: Identification of the Property Owner and the Licensed Real Estate Broker, including their full legal names, licenses, and contact details

2. Background: Context of the agreement, including brief description of the property and the owner's intention to engage the broker

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

4. Appointment and Scope: Terms of broker appointment and detailed scope of services to be provided

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

6. Broker's Rights and Obligations: Detailed listing of broker's responsibilities, including marketing efforts, showing property, negotiating, etc.

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

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

9. Property Details: Comprehensive description of the property, including location, size, features, and asking price/rent

10. Marketing Authorization: Owner's authorization for specific marketing activities and use of property information

11. Termination: Conditions and process for early termination by either party

12. Confidentiality: Obligations regarding confidential information and property details

13. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction for disputes

14. Notices: Process and addresses for formal communications between parties

15. Entire Agreement: Standard clause confirming the agreement represents the complete understanding between parties

Optional Sections

1. Exclusivity Rights: Used when the broker is granted exclusive rights to market and sell the property for a specified period

2. International Marketing: Include when the property will be marketed outside the UAE, specifying additional requirements and responsibilities

3. Multiple Properties: Used when the agreement covers multiple properties owned by the same owner

4. Sub-Agents: Include when the broker is authorized to engage sub-agents or cooperate with other brokers

5. Special Property Features: Used for unique properties requiring specific handling or marketing approaches

6. Post-Termination Rights: Include when there's a need to protect broker's rights for deals in progress after termination

7. Virtual Tours and Digital Marketing: Specific provisions for digital marketing strategies and virtual showing rights

8. Force Majeure: Include specific provisions for unforeseen circumstances affecting the agreement execution

Suggested Schedules

1. Schedule 1 - Property Details: Detailed technical specifications, floor plans, and property documentation

2. Schedule 2 - Commission Structure: Detailed breakdown of commission rates for different transaction types or values

3. Schedule 3 - Marketing Plan: Specific marketing activities, timelines, and budgets

4. Schedule 4 - Property Photos and Materials: Approved photographs and marketing materials for the property

5. Schedule 5 - Broker's License and Credentials: Copies of broker's license, RERA registration, and other relevant credentials

6. Schedule 6 - Property Ownership Documents: Copies of title deed and other relevant ownership documentation

7. Appendix A - Approved Price List: Current approved pricing or rental rates for the property

8. Appendix B - Property Access Protocol: Procedures for accessing and showing the property to potential buyers/tenants

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Commercial Property

Residential Property

Retail Property

Industrial Property

Hospitality

Professional Services

Construction

Relevant Teams

Legal

Real Estate

Compliance

Business Development

Sales

Operations

Contract Administration

Property Management

Asset Management

Risk Management

Relevant Roles

Real Estate Broker

Property Owner

Real Estate Agent

Property Manager

Legal Counsel

Compliance Officer

Real Estate Director

Business Development Manager

Sales Manager

Property Consultant

Real Estate Operations Manager

Contract Administrator

Real Estate Transaction Manager

Portfolio Manager

Asset Manager

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