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Land Sale Commission Agreement

Land Sale Commission Agreement Template for Australia

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Key Requirements PROMPT example:

Land Sale Commission Agreement

"I need a Land Sale Commission Agreement for my boutique real estate agency in Sydney, with provisions for a tiered commission structure where the rate increases from 2% to 2.5% if the property sells above $2 million, and including specific digital marketing rights."

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Document background
The Land Sale Commission Agreement is a crucial document in Australian real estate transactions that formalizes the commercial relationship between property owners and real estate agents. This agreement is used when a property owner engages a real estate agent to sell their property and needs to establish clear terms for commission payment. It includes specific details about commission rates, payment triggers, marketing responsibilities, and service expectations, while ensuring compliance with state-specific real estate legislation and Australian consumer law. The document is particularly important for protecting both parties' interests and preventing disputes about commission entitlements. It should be customized based on the relevant state or territory's requirements, as real estate regulations vary across Australian jurisdictions.
Suggested Sections

1. Parties: Identifies and defines the Agent and the Property Owner/Vendor

2. Background: Contextual information about the property sale and the agent's appointment

3. Definitions and Interpretation: Defines key terms and explains how the agreement should be interpreted

4. Appointment and Authority: Formal appointment of the agent and scope of authority

5. Agent's Services: Detailed description of services to be provided by the agent

6. Commission Structure: Details of commission rates, calculation methods, and payment triggers

7. Payment Terms: Timing and method of commission payment, including any deposit requirements

8. Agent's Obligations: Specific duties and responsibilities of the agent

9. Vendor's Obligations: Responsibilities and commitments of the property owner

10. Term and Termination: Duration of the agreement and circumstances for termination

11. Dispute Resolution: Process for handling disagreements between parties

12. Governing Law: Specifies applicable law and jurisdiction

13. Execution: Formal signing section including witness requirements

Optional Sections

1. Marketing and Advertising: Details of marketing strategy and cost allocation - include when specific marketing arrangements are agreed

2. Multiple Agents: Provisions for cases where multiple agents are involved - include in conjunction agent scenarios

3. GST Provisions: Detailed GST handling - include when parties have specific GST requirements

4. Confidentiality: Specific confidentiality obligations - include for high-profile properties or sensitive sales

5. Assignment: Rights to assign the agreement - include when agent operates through corporate structure

6. Force Majeure: Provisions for unforeseen circumstances - include in long-term exclusive agreements

7. Insurance Requirements: Specific insurance obligations - include for high-value properties

8. Digital Marketing Rights: Special provisions for online marketing - include when specific digital strategies are planned

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including title details and inclusions

2. Schedule 2 - Commission Rates: Detailed breakdown of commission structures and calculations

3. Schedule 3 - Marketing Plan: Specific marketing activities and associated costs

4. Schedule 4 - Agency Terms: Standard terms and conditions of the agency agreement

5. Appendix A - Required Disclosures: Statutory disclosures required under relevant state legislation

6. Appendix B - Marketing Materials: Samples or templates of approved marketing materials

7. Appendix C - Property Appraisal: Initial property valuation and market analysis

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Construction

Legal Services

Financial Services

Property Investment

Professional Services

Property Management

Relevant Teams

Legal

Real Estate Sales

Property Management

Compliance

Business Development

Operations

Contract Administration

Settlement

Document Control

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancer

Legal Counsel

Contract Manager

Property Manager

Sales Director

Business Development Manager

Compliance Officer

Real Estate Branch Manager

Property Developer

Settlement Agent

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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