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Real Estate Referral Fee Agreement Template for Nigeria

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Key Requirements PROMPT example:

Real Estate Referral Fee Agreement

"I need a Real Estate Referral Fee Agreement for my Lagos-based property development company to establish a referral network with five independent real estate agents, with an exclusive territory arrangement and a tiered commission structure based on property values."

Document background
The Real Estate Referral Fee Agreement is essential in the Nigerian real estate market where professional networking and client referrals form a crucial part of business operations. This document is typically used when real estate professionals wish to formalize arrangements for referring clients to one another in exchange for fees. It includes detailed provisions for fee calculations, payment triggers, and professional obligations, all structured within the Nigerian legal framework and compliant with local real estate regulations. The agreement is particularly important for maintaining transparent and legally compliant referral relationships, protecting both the referring and receiving parties while ensuring adherence to professional standards and anti-money laundering requirements. It's designed to prevent disputes by clearly defining the scope of the referral relationship, payment terms, and each party's responsibilities.
Suggested Sections

1. Parties: Identifies and provides full details of all parties to the agreement, including registration numbers for real estate professionals

2. Background: Explains the context of the agreement and the parties' intentions to enter into a referral arrangement

3. Definitions: Defines key terms used throughout the agreement, including 'Referral', 'Referral Fee', 'Successful Transaction', etc.

4. Scope of Referral Services: Details the nature of referrals to be made and the services covered by the agreement

5. Referral Process: Outlines the specific procedures for making and accepting referrals

6. Referral Fee Structure: Specifies the agreed-upon fee calculations and percentages

7. Payment Terms: Details the timing and method of fee payments, including any conditions precedent

8. Obligations of Referring Party: Lists the duties and responsibilities of the party making the referral

9. Obligations of Receiving Party: Lists the duties and responsibilities of the party receiving the referral

10. Term and Termination: Specifies the duration of the agreement and conditions for termination

11. Confidentiality: Establishes confidentiality obligations regarding shared information and client details

12. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and establishes jurisdiction for disputes

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

Optional Sections

1. Non-Compete Clause: Restricts parties from directly competing for referred clients - include when dealing with high-value properties or markets

2. Exclusivity: Establishes exclusive referral rights in specific geographic areas or property types - use when parties want territorial protection

3. Professional Indemnity: Additional provisions regarding professional liability insurance - include when dealing with high-value transactions

4. Marketing and Branding: Guidelines for using each other's brands in marketing - include when parties have strong brand presence

5. Dispute Resolution: Detailed alternative dispute resolution procedures - include for high-value or complex arrangements

6. Force Majeure: Provisions for unforeseen circumstances - include when long-term arrangements are contemplated

7. Data Protection: Specific provisions for handling personal data - include when significant client data sharing is involved

Suggested Schedules

1. Schedule 1: Fee Calculator: Detailed breakdown of fee calculations for different property types and values

2. Schedule 2: Referral Territory: Map or description of geographic areas covered by the agreement

3. Schedule 3: Required Documentation: List of documents required for processing referrals

4. Schedule 4: Contact Details: Key contact information for both parties' representatives

5. Appendix A: Referral Form Template: Standard form for making referrals

6. Appendix B: Professional Credentials: Copies of relevant licenses and professional registrations

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






































Clauses

































Relevant Industries

Real Estate

Property Development

Construction

Financial Services

Professional Services

Property Management

Real Estate Investment

Commercial Property

Residential Property

Legal Services

Relevant Teams

Legal

Compliance

Business Development

Sales

Operations

Real Estate

Partnerships

Contract Administration

Risk Management

Property Management

Relevant Roles

Real Estate Agent

Property Manager

Real Estate Broker

Legal Counsel

Compliance Officer

Business Development Manager

Real Estate Director

Property Consultant

Estate Surveyor

Contract Manager

Real Estate Partnership Manager

Sales Director

Operations Manager

Managing Director

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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