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Residential Sales Agency Agreement Template for Australia

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Key Requirements PROMPT example:

Residential Sales Agency Agreement

"I need a Residential Sales Agency Agreement for my boutique real estate agency in Sydney, with a focus on high-end properties and including provisions for extensive digital marketing campaigns and virtual tours, as well as a tiered commission structure based on the final sale price."

Document background
The Residential Sales Agency Agreement is a crucial legal document used in Australian residential property transactions when a property owner engages a real estate agent to sell their property. It serves as the primary contract defining the business relationship between the vendor and the agent, establishing the agent's authority to act on the vendor's behalf. The agreement must comply with state-specific real estate legislation and includes essential elements such as the scope of authority, commission structures, marketing plans, and mandatory disclosures. This document is particularly important as it protects both parties' interests and ensures transparency in the sales process, while meeting all regulatory requirements for real estate transactions in Australia. It forms the foundation for the entire sales process and is typically required before an agent can begin marketing or selling a property.
Suggested Sections

1. Parties: Identification of the vendor (property owner) and the real estate agent, including full legal names, addresses, and relevant license numbers

2. Background: Brief context of the agreement, including property details and the vendor's intention to sell

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

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

5. Property Details: Complete description of the property being sold, including address and title details

6. Agency Type: Specification of exclusive, sole, or open agency arrangement and duration

7. Agent's Obligations: Detailed listing of all services the agent will provide

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

9. Commission and Fees: Detailed breakdown of agent's commission structure and other fees

10. Marketing and Advertising: Agreed marketing strategy and associated costs

11. Term and Termination: Duration of agreement and conditions for termination

12. Dispute Resolution: Process for handling disagreements between parties

13. Privacy and Confidentiality: Handling of personal information and confidential data

14. Governing Law: Applicable state/territory law governing the agreement

15. Execution: Signing provisions and declaration of understanding

Optional Sections

1. Multiple Properties: Additional section when the agreement covers more than one property

2. Special Conditions: Any unique circumstances or specific requirements for the property or sale

3. Auction Provisions: Required when the property is to be sold by auction

4. Conjunctional Agency: Terms for cooperation with other agents if applicable

5. Foreign Investment: Additional requirements if the property may attract foreign buyers

6. Disclosure of Referral Fees: Required when agent receives third-party referral fees

7. Digital Marketing Options: Specific provisions for online and social media marketing

8. Virtual Tours: Terms relating to virtual property tours and digital presentations

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property description, including lot number, title references, and inclusions/exclusions

2. Schedule 2 - Commission Structure: Detailed breakdown of commission calculations and examples

3. Schedule 3 - Marketing Schedule: Comprehensive marketing plan and associated costs

4. Schedule 4 - Vendor Disclosure Statement: Required property disclosures as per state legislation

5. Schedule 5 - Agency Pricing Guide: Estimated selling price range and comparative market analysis

6. Appendix A - Required Statutory Notices: State-specific mandatory warning statements and notices

7. Appendix B - Marketing Material Samples: Examples of proposed marketing materials and advertisements

8. Appendix C - Authority Verification: Documents verifying vendor's authority to sell

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions







































Clauses



































Relevant Industries

Real Estate

Residential Property

Property Management

Property Sales

Real Estate Marketing

Legal Services

Property Development

Relevant Teams

Sales

Legal

Compliance

Administration

Marketing

Business Development

Operations

Management

Contract Administration

Relevant Roles

Real Estate Agent

Property Sales Manager

Real Estate Director

Sales Consultant

Business Development Manager

Compliance Officer

Legal Counsel

Real Estate Branch Manager

Agency Principal

Property Marketing Manager

Sales Administrator

Contract Administrator

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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