Listing Agreement Between Principal And Broker

Listing Agreement Between Principal And Broker Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Listing Agreement Between Principal and Broker for an exclusive 6-month listing of a luxury residential development in Dubai Marina, with international marketing provisions and a tiered commission structure based on achieving different price points."

Document background

The Listing Agreement Between Principal And Broker is a fundamental document in UAE real estate transactions, essential for establishing professional property marketing and sales relationships. This agreement is required when a property owner wishes to engage a licensed real estate broker to market and sell/lease their property in the UAE market. It must comply with UAE Federal Law No. 39 of 2006 regulating real estate brokerage and, where applicable, specific emirate-level regulations such as RERA guidelines in Dubai. The document outlines critical aspects including broker authorization, property details, commission structures, marketing strategies, and mutual obligations. It's particularly important in the UAE context due to strict regulatory requirements for real estate transactions and the need for clear documentation of brokerage relationships. The agreement serves as both a legal protection and operational framework for all parties involved in the property listing process.

Suggested Sections

1. Parties: Identification of the Principal (property owner/seller) and the licensed Real Estate Broker, including their respective license and registration numbers

2. Background: Context of the agreement, including brief description of the property and the parties' intention to enter into a brokerage relationship

3. Definitions: Key terms used throughout the agreement, including Property, Listing Period, Asking Price, Commission, etc.

4. Appointment and Scope: Terms of broker appointment, whether exclusive or non-exclusive, and scope of authorized services

5. Property Details: Comprehensive description of the property being listed, including location, size, type, and any relevant features

6. Listing Price: Agreed asking price for the property and any conditions for price adjustments

7. Commission Structure: Detailed breakdown of broker's commission, payment terms, and conditions for commission becoming due

8. Term and Termination: Duration of the listing agreement, renewal terms, and conditions for early termination

9. Broker's Obligations: Detailed responsibilities of the broker including marketing efforts, showing the property, and reporting requirements

10. Principal's Obligations: Owner's responsibilities including providing accurate information, access to the property, and cooperation with the broker

11. Representations and Warranties: Statements of fact by both parties regarding their authority, the property's condition, and other material facts

12. Compliance with Laws: Commitment to comply with UAE real estate laws and RERA regulations

13. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts for dispute resolution

14. Notices: Process and requirements for formal communications between parties

15. General Provisions: Standard clauses including entire agreement, amendments, and severability

Optional Sections

1. Protection Period: Defines period after agreement termination during which broker may still be entitled to commission; include when dealing with exclusive listings

2. International Marketing: Special provisions for international marketing efforts and related costs; include when targeting international buyers

3. Multiple Listing Service: Terms for listing on multiple listing services; include when property will be listed on various platforms

4. Virtual Tours and Digital Marketing: Specific provisions for digital marketing services; include when advanced marketing services are offered

5. Property Management: Additional terms for property management services during listing; include when broker will manage property

6. Staging Services: Terms related to property staging services; include when staging services are part of the agreement

7. Sub-Agents: Terms governing the appointment and management of sub-agents; include when broker may use other agents

8. Force Majeure: Provisions for unforeseen circumstances affecting performance; include when requested by parties

Suggested Schedules

1. Schedule A - Property Details: Detailed description of the property including exact specifications, features, and included items

2. Schedule B - Marketing Plan: Detailed marketing strategy and activities to be undertaken by the broker

3. Schedule C - Commission Structure: Detailed breakdown of commission rates, payment terms, and special circumstances

4. Schedule D - Property Documents: List of all property-related documents provided by the principal

5. Appendix 1 - Property Photos: Official photographs of the property for listing purposes

6. Appendix 2 - Broker's License: Copy of broker's current license and RERA registration

7. Appendix 3 - Property Title Deed: Copy of property ownership documentation

8. Appendix 4 - Service Level Agreement: Detailed breakdown of service levels and response times

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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

Commercial Property

Residential Property

Retail Property

Industrial Property

Hospitality

Mixed-Use Development

Property Investment

Property Management

Relevant Teams

Real Estate

Legal

Compliance

Business Development

Sales

Operations

Contract Administration

Property Management

Asset Management

Risk Management

Documentation

Relevant Roles

Real Estate Broker

Property Owner

Real Estate Agent

Property Manager

Sales Director

Business Development Manager

Real Estate Operations Manager

Compliance Officer

Legal Counsel

Contract Manager

Real Estate Portfolio Manager

Asset Manager

Property Developer

Real Estate Investment Manager

Managing Director

Chief Executive Officer

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