The Real Estate Broker Agreement is a crucial document used in the Pakistani real estate market to formalize the relationship between professional real estate brokers and their clients. It is essential for any property transaction where a broker's services are engaged, whether for selling, purchasing, or leasing properties. The agreement typically includes detailed provisions about the broker's services, commission structures, exclusive rights (if any), and compliance with Pakistani property laws and regulations. This document is particularly important given Pakistan's complex property laws and the need for clear documentation of broker-client relationships. It serves as a protective mechanism for both parties, ensuring transparency in the transaction process and establishing clear expectations regarding services, compensation, and responsibilities. The agreement must comply with various Pakistani laws including the Contract Act 1872, Transfer of Property Act 1882, and relevant provincial real estate regulations.
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1. Parties: Identifies the broker and the client (property owner/seller/buyer) with complete legal names and addresses
2. Background: Establishes the context of the agreement, including the broker's qualifications and client's intention to engage broker services
3. Definitions: Defines key terms used throughout the agreement including Property, Services, Commission, Listing Period, etc.
4. Appointment and Scope of Services: Details the broker's appointment and specific services to be provided
5. Term and Termination: Specifies the duration of the agreement and conditions for termination
6. Broker's Obligations: Lists all duties and responsibilities of the broker including marketing, showing property, negotiations, etc.
7. Client's Obligations: Outlines the client's responsibilities including providing accurate information, access to property, etc.
8. Commission Structure: Details the broker's compensation, payment terms, and conditions for commission earning
9. Representations and Warranties: Contains statements of fact and guarantees from both parties
10. Confidentiality: Addresses the handling of confidential information shared during the engagement
11. Compliance with Laws: Confirms adherence to relevant Pakistani real estate and property laws
12. Dispute Resolution: Specifies the process for resolving any disputes between parties
13. General Provisions: Contains standard clauses including notices, amendments, governing law, etc.
1. Exclusive Rights: Used when the broker is granted exclusive rights to sell/lease the property
2. Multiple Listing Service: Included when the property will be listed on multiple listing services
3. International Marketing: Added for properties targeting international buyers/investors
4. Sub-Agents: Included when the broker may engage other agents to assist in the transaction
5. Property Management: Used when the broker will also provide property management services
6. Digital Marketing Rights: Specifies terms for online marketing and social media promotion
7. Force Majeure: Added to address unforeseen circumstances preventing performance
1. Property Details Schedule: Detailed description of the property including location, size, features, and condition
2. Commission Schedule: Detailed breakdown of commission rates, calculation methods, and payment terms
3. Marketing Plan: Specific marketing activities and timeline proposed by the broker
4. Service Level Agreement: Detailed performance metrics and service standards
5. Required Documentation: List of necessary documents for property transaction
6. Broker's License and Credentials: Copies of broker's professional licenses and certifications
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Legal Services
Construction
Investment Banking
Relevant Teams
Legal
Real Estate
Property Management
Sales
Business Development
Compliance
Operations
Contract Administration
Risk Management
Documentation
Relevant Roles
Real Estate Broker
Property Agent
Real Estate Agent
Property Consultant
Legal Counsel
Property Manager
Real Estate Director
Business Development Manager
Contract Manager
Compliance Officer
Real Estate Partner
Property Sales Executive
Real Estate Investment Advisor
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