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Client Representation Agreement (Real Estate)
"I need a Client Representation Agreement (Real Estate) for our agency representing an NRI client looking to sell multiple residential properties in Mumbai, with a 12-month exclusive representation period starting March 2025."
1. Parties: Identification of the real estate agent/agency and the client with complete details as required by RERA
2. Background: Context of the agreement, including the client's intention to buy/sell/lease property and agent's RERA registration details
3. Definitions: Key terms used throughout the agreement including 'Services', 'Property', 'Commission', 'RERA', etc.
4. Scope of Services: Detailed description of services to be provided by the agent, including property search/marketing, negotiation, documentation assistance
5. Term and Termination: Duration of the agreement, renewal terms, and conditions for termination by either party
6. Agent's Obligations: Specific responsibilities and duties of the agent, including RERA compliance requirements
7. Client's Obligations: Client's responsibilities, including providing accurate information and necessary documentation
8. Commission Structure: Detailed breakdown of agent's fees, payment terms, and conditions for commission eligibility
9. Confidentiality: Obligations regarding confidential information shared during the engagement
10. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority
11. Limitation of Liability: Extent and limitations of agent's liability for various circumstances
12. Dispute Resolution: Process for resolving disputes, including jurisdiction and governing law
13. General Provisions: Standard clauses including notices, entire agreement, amendments, and severability
1. Exclusive Agency Rights: Used when the agent is being appointed as an exclusive agent, preventing client from engaging other agents
2. Sub-Agency: Include when the agent may need to engage other licensed agents or sub-brokers
3. Marketing Budget and Plan: Required for seller representation agreements where specific marketing activities are planned
4. Property Management Services: Include when agent will provide additional property management services
5. International Property Services: Required when dealing with NRI clients or international properties
6. Digital Services: Include when providing virtual tours, online marketing, or other digital services
7. Force Majeure: Important in uncertain times, defining circumstances beyond parties' control
1. Schedule A - Service Details: Detailed breakdown of all services covered under the agreement
2. Schedule B - Commission Structure: Detailed fee structure, including different scenarios and payment terms
3. Schedule C - Property Requirements: For buyer representation, detailed criteria of property being sought
4. Schedule D - Property Details: For seller representation, complete details of property being sold
5. Schedule E - Required Documents: List of documents required from client for KYC and transaction purposes
6. Appendix 1 - RERA Compliance Checklist: Checklist ensuring compliance with RERA requirements
7. Appendix 2 - Agent's RERA Registration: Copy of agent's RERA registration certificate and details
8. Appendix 3 - Marketing Plan: Detailed marketing strategy and budget (if applicable)
Authors
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Real Estate Investment
Property Management
Construction
Legal
Compliance
Sales
Business Development
Property Management
Client Relations
Marketing
Operations
Finance
Risk Management
Documentation
Real Estate Agent
Property Consultant
Real Estate Broker
Business Development Manager
Property Manager
Real Estate Legal Counsel
Compliance Officer
Real Estate Transaction Manager
Client Relationship Manager
Sales Director
Managing Director
Chief Executive Officer
Property Valuation Expert
Real Estate Marketing Manager
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