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Real Estate Non Compete Agreement

Real Estate Non Compete Agreement Template for Australia

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Key Requirements PROMPT example:

Real Estate Non Compete Agreement

"I need a Real Estate Non-Compete Agreement for a senior property manager leaving our Sydney-based agency, with a 2-year restriction period within a 25km radius of our office locations, including specific provisions for protecting our commercial property client relationships."

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Document background
The Real Estate Non-Compete Agreement is essential for protecting business interests in Australia's competitive property market. It is typically used when real estate professionals, agencies, or property businesses seek to prevent direct competition from former employees, partners, or business associates. The agreement must carefully balance legitimate business protection with Australian competition law requirements, ensuring restrictions are reasonable in scope, duration, and geographical area. This document is particularly relevant in situations involving agency sales, mergers, employment transitions, or partnership dissolutions in the real estate sector. Key considerations include compliance with state-specific property legislation, the Competition and Consumer Act 2010, and relevant real estate industry regulations. The agreement typically includes detailed provisions on restricted activities, territorial limitations, confidentiality obligations, and enforcement mechanisms.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

2. Background: Context of the agreement, relationship between parties, and purpose of the non-compete restrictions

3. Definitions: Detailed definitions of key terms including 'Restricted Business', 'Territory', 'Restricted Period', and 'Confidential Information'

4. Non-Compete Obligations: Core restrictions and specific prohibited activities in the real estate sector

5. Duration and Territory: Temporal and geographical scope of the restrictions

6. Exceptions and Permitted Activities: Specific activities that are explicitly allowed despite the general restrictions

7. Confidentiality Obligations: Protection of confidential information and trade secrets

8. Acknowledgments: Parties' acknowledgment of the reasonableness of restrictions and receipt of consideration

9. Remedies: Available remedies for breach, including injunctive relief and damages

10. General Provisions: Standard contract clauses including governing law, severability, and entire agreement

Optional Sections

1. Non-Solicitation: Additional restrictions on soliciting clients or employees, used when the agreement covers both non-compete and non-solicitation

2. Training and Support: Provisions regarding any training or support provided as consideration, included when specific business knowledge is transferred

3. Assignment and Succession: Rules for transferring rights under the agreement, included for larger businesses or when succession planning is relevant

4. Dispute Resolution: Specific procedures for resolving disputes, included when parties want to specify mediation or arbitration processes

5. Compliance with Industry Regulations: Specific provisions relating to real estate industry regulations, included when parties operate in heavily regulated markets

Suggested Schedules

1. Schedule 1 - Restricted Territory: Detailed map or description of the geographical areas covered by the restrictions

2. Schedule 2 - Restricted Activities: Comprehensive list of specific real estate activities that are prohibited

3. Schedule 3 - Consideration: Details of any consideration provided in exchange for the non-compete obligations

4. Schedule 4 - Existing Clients: List of clients or properties that are subject to specific provisions

5. Appendix A - Industry Codes: Relevant real estate industry codes of conduct or regulations referenced in the agreement

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 Management

Property Development

Commercial Property

Residential Property

Real Estate Investment

Property Services

Real Estate Brokerage

Property Consulting

Relevant Teams

Legal

Human Resources

Operations

Sales

Property Management

Business Development

Compliance

Executive Leadership

Risk Management

Commercial Property

Relevant Roles

Real Estate Agent

Property Manager

Real Estate Broker

Sales Director

Business Development Manager

Agency Principal

Franchise Owner

Property Consultant

Real Estate Partner

Sales Manager

Chief Executive Officer

Operations Manager

Regional Manager

Branch Manager

Commercial Property 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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