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Real Estate Agent Retainer Agreement Generator for the USA

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Key Requirements PROMPT example:

Real Estate Agent Retainer Agreement

"I need a Real Estate Agent Retainer Agreement for my luxury property development company based in California, covering multiple high-end residential properties with a minimum commission rate of 5% and an exclusivity period lasting until December 2025."

Document background

The Real Estate Agent Retainer Agreement serves as the foundational document governing the relationship between real estate professionals and their clients in the United States. This agreement is essential when engaging a real estate agent for property transactions, whether selling or buying. It typically includes detailed provisions about the agent's responsibilities, commission structures, marketing strategies, and duration of representation. The document must adhere to both federal regulations and state-specific real estate laws, making it a crucial tool for establishing clear expectations and legal protections for all parties involved.

Suggested Sections

1. Parties: Identification of the real estate agent/broker and the client with full legal names and addresses

2. Background: Brief context of the agreement and the parties' intention to enter into a real estate agency relationship

3. Definitions: Key terms used throughout the agreement including 'Property', 'Services', 'Commission', 'Listing Period'

4. Scope of Services: Detailed description of services to be provided by the agent

5. Term and Duration: Period of the agreement, including start and end dates

6. Commission Structure: Detailed breakdown of commission rates and payment terms

7. Agency Disclosure: Mandatory disclosure of agency relationship as per state law

8. Termination: Conditions and process for terminating the agreement

Optional Sections

1. Parties: Identification of the real estate agent/broker and the client with full legal names and addresses

2. Background: Brief context of the agreement and the parties' intention to enter into a real estate agency relationship

3. Definitions: Key terms used throughout the agreement including 'Property', 'Services', 'Commission', 'Listing Period'

4. Scope of Services: Detailed description of services to be provided by the agent

5. Term and Duration: Period of the agreement, including start and end dates

6. Commission Structure: Detailed breakdown of commission rates and payment terms

7. Agency Disclosure: Mandatory disclosure of agency relationship as per state law

8. Termination: Conditions and process for terminating the agreement

Suggested Schedules

1. Property Description Schedule: Detailed description of the property being sold/purchased

2. Commission Schedule: Detailed breakdown of commission structures and scenarios

3. Marketing Services Schedule: Detailed list of marketing services to be provided

4. State-Specific Disclosures: Required state disclosures and forms

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

Agreement

Client

Effective Date

Sale

Term
Territory

Confidential Information

Clauses

Relevant Industries

Real Estate
Property Development
Property Investment

Relevant Teams

Real Estate Sales
Legal
Compliance
Operations
Business Development

Relevant Roles

Real Estate Agent
Real Estate Broker
Property Manager
Real Estate Attorney
Compliance Officer

Industries

RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate transactions and settlement processes, including requirements for disclosures and prohibited practices

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, familial status, or disability

Truth in Lending Act: Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

Equal Credit Opportunity Act: Federal law prohibiting discrimination in credit transactions, including real estate financing

Americans with Disabilities Act: Federal law ensuring equal access and prohibiting discrimination against individuals with disabilities in real estate transactions

State Real Estate Commission Regulations: State-specific rules and regulations governing real estate practice, licensing, and professional conduct within the state

State Licensing Requirements: Specific requirements for maintaining real estate license and practicing real estate in the state

State Disclosure Requirements: State-mandated disclosures that must be made during real estate transactions and in agency agreements

State Agency Relationship Laws: Laws governing the relationship between real estate agents and their clients, including fiduciary duties and responsibilities

NAR Code of Ethics: Professional standards and ethical requirements established by the National Association of REALTORSยฎ

State Contract Laws: General contract law principles and requirements specific to the state governing formation and enforcement of contracts

Statute of Frauds: Legal requirement that certain contracts, including real estate agreements, must be in writing to be enforceable

State Consumer Protection Acts: State laws protecting consumers from deceptive or unfair business practices in real estate transactions

FTC Regulations: Federal Trade Commission regulations governing fair business practices and consumer protection in real estate

State Privacy Laws: State-specific requirements for handling and protecting personal information in real estate transactions

Gramm-Leach-Bliley Act: Federal law requiring financial institutions, including real estate entities, to explain their information-sharing practices and protect sensitive data

Commission Regulations: State-specific rules governing real estate commission structures, disclosure requirements, and payment terms

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