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Real Estate Broker Agent Commission Split Agreement
"I need a Real Estate Broker Agent Commission Split Agreement for my Malaysian brokerage firm that includes a progressive commission structure starting at 70-30 split for new agents, increasing to 80-20 after reaching RM5 million in sales, with specific provisions for luxury property transactions."
1. Parties: Identifies the broker and agent, including their full legal names, registration numbers, and business addresses
2. Background: Outlines the context of the agreement, including the broker's and agent's licenses and their intention to enter into a commission-sharing arrangement
3. Definitions: Defines key terms used throughout the agreement, including types of transactions, commission calculations, and relevant industry terminology
4. Appointment and Scope: Details the appointment of the agent and the scope of authorized activities
5. Commission Structure: Specifies the basic commission split percentages and calculation methods
6. Payment Terms: Outlines when and how commissions will be paid, including payment schedules and methods
7. Duties and Responsibilities: Lists the obligations of both broker and agent, including compliance with laws and professional standards
8. Term and Termination: Specifies the duration of the agreement and conditions for termination
9. Confidentiality: Addresses the handling of confidential information and client data
10. Compliance Requirements: Details compliance with BOVAEA regulations and other applicable laws
11. Dispute Resolution: Establishes procedures for resolving disputes between parties
12. General Provisions: Includes standard legal clauses such as governing law, notices, and amendments
1. Training and Support: Details any training, mentoring, or support services provided by the broker to the agent
2. Marketing and Advertising: Specifies arrangements for sharing marketing costs and brand usage
3. Office Space and Resources: Includes terms for office space usage and access to broker's resources, if provided
4. Non-Compete Clause: Restrictions on agent's activities during and after the agreement term
5. Insurance Requirements: Specifies professional indemnity insurance requirements for the agent
6. Team Structure: Details arrangements for agents working in teams or with assistants
7. Referral Programs: Outlines terms for handling referrals and associated commission structures
1. Schedule A - Commission Split Structure: Detailed breakdown of commission split percentages for different transaction types and values
2. Schedule B - Performance Incentives: Details of any bonus structures or increased commission splits based on performance
3. Schedule C - Approved Marketing Materials: Templates and guidelines for marketing materials and brand usage
4. Schedule D - Office Policies and Procedures: Detailed operational procedures and compliance requirements
5. Appendix 1 - Required Documentation: List of required documents for commission processing
6. Appendix 2 - Commission Calculator: Formula and examples for commission calculations
Authors
Real Estate
Property Development
Property Management
Real Estate Investment
Commercial Property
Residential Property
Property Consultancy
Real Estate Technology
Legal
Compliance
Real Estate Operations
Sales Administration
Finance
Human Resources
Business Development
Property Management
Commission Processing
Agent Support
Real Estate Broker
Property Agent
Estate Agent
Real Estate Agency Director
Compliance Officer
Real Estate Sales Manager
Property Consultant
Branch Manager
Agency Principal
Real Estate Operations Manager
Commission Administrator
Real Estate Partnership Manager
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