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Broker Cooperation Agreement
"I need a Broker Cooperation Agreement for my Dubai-based luxury residential property brokerage firm to collaborate with a Abu Dhabi agency, with a focus on high-end property listings above AED 5 million and a 60/40 commission split structure, to be effective from March 2025."
1. Parties: Identification of the cooperating brokers, including their full legal names, license numbers, and registered addresses
2. Background: Context of the agreement, including the purpose of cooperation and brief description of each broker's business
3. Definitions and Interpretation: Key terms used throughout the agreement, including specific real estate and brokerage terminology relevant to UAE market
4. Scope of Cooperation: Detailed outline of how the brokers will work together, including territory, property types, and nature of cooperation
5. Commission Structure: Details of commission sharing arrangements, payment terms, and calculation methods
6. Responsibilities and Obligations: Specific duties of each broker, including lead sharing, client handling, and documentation requirements
7. Confidentiality: Provisions regarding handling of confidential information and client data
8. Compliance Requirements: Obligations to comply with UAE real estate laws, RERA regulations, and other applicable laws
9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
10. Dispute Resolution: Process for resolving disputes, including jurisdiction and applicable law
11. General Provisions: Standard contractual provisions including notices, amendments, and severability
1. Exclusivity Provisions: Used when brokers agree to work exclusively with each other in specific areas or for specific property types
2. International Transactions: Required when cooperation involves cross-border real estate transactions
3. Marketing and Branding: Included when brokers agree to joint marketing efforts or brand usage
4. Training and Support: Added when one broker provides training or technical support to the other
5. Digital Platform Usage: Necessary when cooperation involves shared use of digital platforms or tools
6. Sub-Broker Arrangements: Required when either party may engage sub-brokers in the cooperation
7. Insurance Requirements: Added when specific insurance coverage needs to be maintained by either party
1. Schedule 1 - Commission Rates: Detailed breakdown of commission percentages for different property types and transaction values
2. Schedule 2 - Territory Map: Geographical areas covered by the cooperation agreement
3. Schedule 3 - Property Types: List of property categories included in the cooperation arrangement
4. Schedule 4 - Standard Operating Procedures: Detailed procedures for lead sharing, client handling, and transaction processing
5. Schedule 5 - Broker Licenses and Certifications: Copies of current broker licenses and relevant certifications
6. Schedule 6 - Contact Details: Key personnel and contact information for both parties
7. Appendix A - Required Forms: Standard forms and templates to be used in the cooperation
Authors
Real Estate
Property Development
Commercial Property
Residential Property
Property Management
Real Estate Investment
Construction
Hospitality
Retail Property
Industrial Property
Legal
Real Estate Operations
Sales
Compliance
Business Development
Property Management
Contract Administration
Risk Management
Executive Leadership
Agency Operations
Real Estate Broker
Senior Property Consultant
Managing Director
Sales Director
Business Development Manager
Property Manager
Real Estate Operations Manager
Compliance Officer
Legal Counsel
Contract Manager
Agency Director
Branch Manager
Regional Sales Manager
Chief Executive Officer
Chief Operating Officer
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