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Land Sale Commission Agreement
"I need a Land Sale Commission Agreement for my Vancouver property with a tiered commission structure: 2% for the first $1M and 1% thereafter, with an additional international marketing clause and a 6-month protection period starting March 2025."
1. Parties: Identifies and provides full details of the property seller and the real estate agent/broker
2. Background: Outlines the context of the agreement, including the seller's intention to sell the property and the agent's qualifications
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Authority: Establishes the agent's appointment and scope of authority to sell the property
5. Property Details: Specifies the property address and legal description
6. Listing Price: States the agreed listing price or price range for the property
7. Commission Structure: Details the commission rate and calculation method
8. Payment Terms: Specifies when and how the commission will be paid
9. Agent's Obligations: Lists the services and duties the agent will perform
10. Seller's Obligations: Outlines the seller's responsibilities and commitments
11. Term and Termination: Specifies the duration of the agreement and conditions for termination
12. Protection Period: Defines the period after termination during which commission may still be payable
13. Representations and Warranties: Contains statements of fact and promises by both parties
14. Confidentiality: Addresses the handling of confidential information
15. Dispute Resolution: Outlines the process for resolving disputes
16. Governing Law: Specifies the applicable law and jurisdiction
17. General Provisions: Contains standard legal provisions like notices, amendments, and severability
1. Multiple Listing Service: Include when the property will be listed on MLS, specifying terms and conditions
2. Co-operating Brokers: Include when other brokers may be involved in the sale
3. Marketing Budget: Include when specific marketing commitments and budgets are agreed upon
4. Performance Targets: Include when specific performance metrics or timelines are required
5. Property Management: Include when the agent will provide property management services during the listing
6. International Marketing: Include when the property will be marketed internationally
7. Digital Marketing Rights: Include when specific digital marketing terms need to be addressed
8. Post-Sale Services: Include when the agent will provide additional services after sale completion
1. Schedule A - Property Description: Detailed description of the property including lot size, features, and improvements
2. Schedule B - Commission Schedule: Detailed breakdown of commission rates and calculation examples
3. Schedule C - Marketing Plan: Comprehensive marketing strategy and timeline
4. Schedule D - Service Level Agreement: Detailed description of services to be provided by the agent
5. Schedule E - Property Photographs: Official photographs and floor plans of the property
6. Appendix 1 - Agent Credentials: Agent's licenses, certifications, and relevant experience
7. Appendix 2 - Required Disclosures: Mandatory disclosures required by provincial real estate laws
8. Appendix 3 - Marketing Materials: Samples or templates of proposed marketing materials
Authors
Real Estate
Property Development
Construction
Legal Services
Financial Services
Property Management
Investment Management
Professional Services
Commercial Property
Residential Property
Legal
Real Estate
Sales
Business Development
Compliance
Operations
Property Management
Contract Administration
Risk Management
Document Control
Real Estate Agent
Real Estate Broker
Property Developer
Real Estate Lawyer
Legal Counsel
Property Manager
Sales Director
Business Development Manager
Contract Manager
Compliance Officer
Real Estate Investment Manager
Transaction Coordinator
Real Estate Administrator
Property Sales Consultant
Legal Administrator
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