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Cooperating Broker Compensation Agreement Template for Ireland

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Key Requirements PROMPT example:

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."

Document background
The Cooperating Broker Compensation Agreement serves as a critical legal framework for real estate professionals in Ireland who wish to collaborate on property transactions while maintaining clear compensation structures. This document becomes necessary when independent brokers or agencies decide to work together on property listings, sales, or leases, ensuring fair compensation distribution and clear operational guidelines. It must comply with Irish regulatory requirements, including the Property Services (Regulation) Act 2011 and relevant financial services regulations. The agreement typically covers commission splits, payment terms, territorial rights, and service standards, providing a solid foundation for professional cooperation while protecting both parties' interests in the competitive Irish real estate market.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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
































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Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial Property

Retail Property

Luxury Real Estate

Property Development

Property Investment

Property Management

Relevant Teams

Legal

Compliance

Real Estate Operations

Sales

Business Development

Finance

Property Management

Client Services

Risk Management

Commission Administration

Relevant Roles

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

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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