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Key Requirements PROMPT example:

Exclusive Contract With A Real Estate Agent

"I need an Exclusive Contract With A Real Estate Agent for my luxury London property, with specific provisions for international marketing and a minimum price guarantee of £5 million, starting from March 2025."

Document background
An Exclusive Contract With A Real Estate Agent is essential when property owners wish to establish a dedicated relationship with a single agent for maximum marketing effectiveness and clear accountability. This document, governed by English and Welsh law, provides comprehensive protection for both parties by clearly defining roles, responsibilities, and compensation structures. It's particularly valuable in high-value property transactions or when sellers require focused marketing efforts. The contract typically includes detailed marketing commitments, performance expectations, commission structures, and compliance with relevant property legislation including the Estate Agents Act 1979 and Consumer Protection Regulations.
Suggested Sections

1. Parties: Identifies the estate agent and property owner with full legal names and addresses

2. Background: Sets out the context of the agreement and property details

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Scope: Details of exclusive appointment and services to be provided

5. Duration: Term of exclusivity and any notice periods

6. Agent's Obligations: Detailed responsibilities and duties of the estate agent

7. Client's Obligations: Property owner's responsibilities and commitments

8. Commission and Fees: Payment terms, commission rates, and when fees become payable

9. Termination: Circumstances and process for ending the agreement

Optional Sections

1. Marketing Strategy: Specific marketing approaches and commitments - used for high-value properties or when specific marketing commitments are agreed

2. Sub-Agents: Terms for appointing sub-agents - used when sub-agents may be required

3. International Marketing: Specific provisions for international marketing - used for luxury properties or those targeting international buyers

4. Performance Targets: Specific metrics and targets - used when performance-based terms are included

Suggested Schedules

1. Property Details Schedule: Detailed description of the property including boundaries, fixtures, and fittings

2. Fee Schedule: Detailed breakdown of fees, commission structures, and payment terms

3. Marketing Plan: Detailed marketing strategy and commitments

4. Property Photographs: Approved photographs for marketing purposes

5. Service Level Agreement: Detailed service standards and response times

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

Relevant legal definitions





























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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Estate Agents Act 1979: Primary legislation governing estate agency work in England and Wales. Covers agent duties, disclosure requirements, and client money handling. Sets fundamental rules for estate agency operations and professional conduct.

Consumer Protection from Unfair Trading Regulations 2008: Regulations protecting consumers from unfair commercial practices in real estate. Requires transparency in marketing, mandatory disclosure of material information, and prevents misleading omissions in property transactions.

Consumer Rights Act 2015: Legislation ensuring fairness in consumer contracts and transparency in terms. Establishes service quality standards and protects consumer rights in real estate transactions.

Data Protection Act 2018 and UK GDPR: Legal framework for handling personal data in real estate transactions. Establishes privacy requirements, data protection principles, and regulates data sharing between parties.

Money Laundering Regulations 2017: Regulations requiring customer due diligence, identity verification, and proper record keeping in real estate transactions to prevent money laundering and financial crime.

Property Ombudsman Scheme Requirements: Mandatory membership requirements for real estate agents, including compliance with professional codes of practice and established complaint handling procedures.

Competition Act 1998: Legislation governing anti-competitive practices, affecting exclusivity terms and pricing arrangements in real estate agency contracts.

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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