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Cooperating Broker Compensation Agreement
"I need a Cooperating Broker Compensation Agreement for my Dublin-based real estate agency to work with a residential property specialist broker, with a 60-40 commission split for luxury properties over €1 million and standard indemnification terms."
1. Parties: Identification of the cooperating brokers, including their business names, registration numbers, and Property Services Regulatory Authority (PSRA) license details
2. Background: Context of the agreement, explaining the purpose of the cooperation and the general nature of the intended business relationship
3. Definitions: Key terms used throughout the agreement, including specific real estate terminology and compensation-related definitions
4. Scope of Cooperation: Detailed description of how the brokers will work together, including territory, property types, and client relationships
5. Compensation Structure: Core compensation terms, commission splits, and payment mechanisms between the brokers
6. Payment Terms: Timing of payments, invoice requirements, and payment methods
7. Duties and Responsibilities: Specific obligations of each broker in the cooperative relationship
8. Confidentiality: Protection of sensitive business information and client data
9. Term and Termination: Duration of the agreement and conditions for termination
10. Dispute Resolution: Process for resolving disagreements between the parties
11. Governing Law: Confirmation of Irish law governance and jurisdiction
1. Exclusive Territories: Used when brokers wish to define specific geographic areas of operation
2. Special Property Types: Include when the cooperation focuses on specific property categories (e.g., commercial, luxury residential)
3. Marketing Arrangements: When brokers wish to specify joint marketing efforts and cost-sharing
4. Professional Insurance: Additional insurance requirements beyond statutory minimums
5. Data Protection: Detailed GDPR compliance measures when extensive personal data sharing is involved
6. Training and Support: When one broker provides training or technical support to the other
7. Cross-Border Transactions: For agreements involving international property transactions
8. Online Platform Usage: When cooperation involves shared digital platforms or tools
1. Schedule A - Commission Structure: Detailed breakdown of commission splits for different property types and transaction values
2. Schedule B - Territory Map: Geographic boundaries of cooperative arrangement if applicable
3. Schedule C - Required Documentation: List of documents required for commission claims and transaction processing
4. Schedule D - Service Level Agreement: Specific performance metrics and response time requirements
5. Appendix 1 - Contact Details: Key personnel and escalation contacts for both parties
6. Appendix 2 - Marketing Guidelines: Agreed standards for co-branded marketing materials and promotional activities
Authors
Real Estate
Commercial Property
Residential Property
Industrial Property
Retail Property
Luxury Real Estate
Property Development
Property Investment
Property Management
Legal
Compliance
Real Estate Operations
Sales
Business Development
Finance
Property Management
Client Services
Risk Management
Commission Administration
Real Estate Broker
Property Services Manager
Real Estate Agent
Branch Manager
Sales Director
Managing Director
Compliance Officer
Real Estate Partner
Business Development Manager
Operations Manager
Commission Administrator
Property Portfolio Manager
Real Estate Consultant
Agency Principal
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