Employment Contract For Real Estate Agent

Employment Contract For Real Estate Agent Template for Malaysia

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Key Requirements PROMPT example:

"I need an Employment Contract For Real Estate Agent for a Malaysia-based residential property agent, starting March 1, 2025, with a 3-month probation period and a commission-based structure of 70% of generated sales revenue."

Document background

The Employment Contract For Real Estate Agent is essential for formalizing the employment relationship between real estate agencies and their agents in Malaysia. This document is specifically designed to comply with Malaysian employment legislation, particularly the Employment Act 1955 and the Valuers, Appraisers, Estate Agents and Property Managers Act 1981. It should be used when hiring new real estate agents or updating agreements with existing agents to ensure proper documentation of employment terms, commission structures, and professional obligations. The contract addresses crucial aspects such as licensing requirements, commission calculations, performance targets, client relationship management, and compliance with industry regulations. It provides protection for both the agency and the agent while ensuring alignment with Malaysian real estate industry standards and practices.

Suggested Sections

1. Parties: Identifies the employer (real estate agency) and employee (real estate agent), including their full legal names, registration numbers, and addresses

2. Background: Brief context explaining the purpose of the agreement and confirming the agent's qualifications and credentials

3. Definitions: Defines key terms used throughout the agreement, including technical real estate terminology and employment-related terms

4. Appointment and Term: Details of the employment relationship, including start date, probation period, and term (if fixed)

5. Duties and Responsibilities: Comprehensive list of the agent's duties, sales targets, and professional obligations

6. Licensing and Compliance: Requirements for maintaining necessary real estate licenses and complying with industry regulations

7. Compensation Structure: Details of basic salary (if any), commission rates, and bonus structures

8. Working Hours and Leave: Specification of working hours, rest days, and leave entitlements as per Employment Act 1955

9. Confidentiality and Non-Disclosure: Obligations regarding confidential information and client data protection

10. Professional Conduct: Standards of behavior, dress code, and ethical requirements

11. Termination: Conditions and procedures for contract termination by either party

12. Post-Termination Obligations: Obligations after employment ends, including return of property and ongoing confidentiality

13. Governing Law: Specification of Malaysian law as governing law and jurisdiction for disputes

Optional Sections

1. Non-Compete Clause: Restrictions on working for competitors, used when agent has access to sensitive business information

2. Team Leadership: Additional responsibilities and compensation for agents managing teams

3. International Transactions: Special provisions for agents handling international property transactions

4. Training and Development: Specific requirements for ongoing professional development and training

5. Vehicle and Equipment: Terms regarding company-provided vehicles or equipment

6. Remote Work Provisions: Guidelines for remote work arrangements if applicable

7. Performance Review Process: Detailed performance evaluation procedures and criteria

8. Specialization Requirements: Special terms for agents focusing on specific property types or market segments

Suggested Schedules

1. Schedule 1: Commission Structure: Detailed breakdown of commission rates for different types of transactions

2. Schedule 2: Sales Targets: Specific sales targets and related bonus structures

3. Schedule 3: Benefits Package: Details of insurance, EPF contributions, and other benefits

4. Schedule 4: Territory Assignment: Defined geographical area or property types assigned to the agent

5. Schedule 5: Company Policies: Reference to applicable company policies and procedures

6. Appendix A: Required Licenses: List of required licenses and certifications

7. Appendix B: Marketing Guidelines: Company's marketing policies and brand guidelines

8. Appendix C: Compliance Checklist: Checklist of regulatory compliance requirements

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Property Management

Commercial Property

Residential Property

Industrial Property

Retail Property

Property Investment

Property Consultancy

Relevant Teams

Human Resources

Legal

Property Sales

Property Management

Operations

Compliance

Marketing

Administration

Finance

Training and Development

Relevant Roles

Real Estate Agent

Property Agent

Estate Agent

Senior Real Estate Agent

Principal Real Estate Agent

Real Estate Team Leader

Real Estate Sales Manager

Property Consultant

Real Estate Broker

Property Sales Executive

Real Estate Marketing Executive

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