The Co-Broker Agreement serves as a fundamental instrument for establishing professional partnerships between real estate brokers and agencies operating in Indonesia. This document becomes necessary when two or more licensed real estate professionals or firms wish to formalize their collaboration in property transactions. It is particularly relevant in the Indonesian market where complex property transactions often require cooperation between different brokers to access wider networks and market opportunities. The agreement ensures compliance with Indonesian real estate regulations, including Minister of Trade Regulation No. 33/M-DAG/PER/8/2008 and related property laws, while providing a clear framework for commission sharing, client handling, and dispute resolution. This document is essential for protecting all parties' interests and maintaining professional standards in collaborative real estate transactions.
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Key Requirements PROMPT example:
Co Broker Agreement
"I need a Co-Broker Agreement template that complies with Indonesian law for my Jakarta-based real estate agency to use with multiple local partners, including standard 50-50 commission splits and provisions for both residential and commercial properties."
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OR
1. Parties: Identification of the co-brokers entering into the agreement, including their business registration details and licenses
2. Background: Context of the agreement and the intention to collaborate in real estate transactions
3. Definitions: Key terms used throughout the agreement, including technical and legal terminology
4. Scope of Cooperation: Details of the collaborative relationship and geographic/property type coverage
5. Commission Structure: Terms for sharing commissions, calculation methods, and payment timing
6. Roles and Responsibilities: Specific duties and obligations of each broker in the co-broking relationship
7. Term and Termination: Duration of the agreement and conditions for termination
8. Confidentiality: Protection of shared information and client data
9. Non-Solicitation: Restrictions on soliciting each other's clients or employees
10. Dispute Resolution: Process for resolving disagreements between the parties
11. Governing Law: Application of Indonesian law and jurisdiction
12. General Provisions: Standard legal clauses including notices, amendments, and severability
1. Exclusivity: Terms of exclusive cooperation for specific properties or areas, used when parties agree to work exclusively
2. Marketing and Branding: Guidelines for joint marketing efforts and brand usage, relevant for public-facing collaboration
3. Professional Insurance: Requirements for professional indemnity insurance, important for high-value transactions
4. Training and Support: Provisions for shared training programs and technical support, useful for long-term partnerships
5. Data Protection: Specific provisions for handling personal data under Indonesian law, necessary when handling significant customer data
6. International Transactions: Special provisions for handling international clients or properties, relevant for brokers dealing with foreign investments
1. Commission Rate Schedule: Detailed breakdown of commission rates for different property types and transaction values
2. Territory Map: Geographic areas covered by the co-broking arrangement
3. Standard Operating Procedures: Detailed procedures for handling joint listings and transactions
4. Required Documentation: List of necessary documents and forms for joint transactions
5. Contact Information: Key personnel and emergency contacts for both parties
6. License and Registration Documents: Copies of relevant business licenses and professional registrations
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Mixed-Use Development
Land Development
Property Investment
Property Management
Relevant Teams
Legal
Real Estate
Sales
Business Development
Compliance
Operations
Contract Management
Risk Management
Property Management
Client Relations
Relevant Roles
Real Estate Broker
Property Agent
Real Estate Agency Owner
Business Development Manager
Sales Director
Legal Counsel
Compliance Officer
Real Estate Manager
Branch Manager
Managing Director
Operations Manager
Commercial Property Specialist
Residential Property Consultant
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