The Agreement Between Real Estate Agent And Seller is a crucial document used in Pakistani real estate transactions when a property owner wishes to engage a professional real estate agent to market and sell their property. This agreement is essential for protecting both parties' interests and ensuring clarity in their business relationship. It must comply with Pakistani federal laws, including the Transfer of Property Act 1882 and the Real Estate Agents and Motor Vehicles Ordinance 1984, as well as applicable provincial regulations. The document typically includes detailed terms about the property, commission structures, marketing responsibilities, and duration of the engagement. It's particularly important in Pakistan's dynamic real estate market where clear documentation of agency relationships helps prevent future disputes and ensures compliance with local property laws.
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1. Parties: Identification of the property seller and the real estate agent, including full legal names, addresses, and registration/license numbers
2. Background: Context of the agreement, including brief description of the property and the seller's intention to engage the agent
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Commission', 'Listing Period', and 'Selling Price'
4. Appointment and Authority: Formal appointment of the agent and scope of authority granted by the seller
5. Property Details: Complete description of the property being sold, including address, dimensions, and title details
6. Listing Price and Terms: Agreed listing price range and basic terms of potential sale
7. Agent's Obligations: Detailed responsibilities of the agent including marketing, showing property, negotiating, and reporting
8. Seller's Obligations: Seller's commitments including property access, information disclosure, and cooperation
9. Commission Structure: Detailed breakdown of agent's commission, payment terms, and conditions for commission earning
10. Term and Termination: Duration of the agreement, renewal terms, and conditions for termination
11. Confidentiality: Obligations regarding confidential information and customer data protection
12. Dispute Resolution: Process for handling disagreements, including jurisdiction and applicable law
13. Signatures: Execution clause and space for signatures of all parties
1. Exclusive Agency Rights: Used when granting exclusive rights to the agent to sell the property
2. Multiple Listing Service: Include when the property will be listed on MLS or similar services
3. Marketing Budget: When specific marketing commitments and budget allocations need to be detailed
4. Property Maintenance: Include when the agent will have responsibilities related to property maintenance during the listing period
5. International Buyers: Include when targeting international buyers with specific requirements
6. Post-Termination Obligations: Used when there are specific obligations that survive the termination of the agreement
7. Sub-Agency Authorization: Include when the agent is permitted to appoint sub-agents
8. Force Majeure: Include specific provisions for unforeseen circumstances affecting the agreement
1. Schedule A - Property Description: Detailed property specifications, including lot size, building details, and amenities
2. Schedule B - Commission Structure: Detailed breakdown of commission rates, payment terms, and special circumstances
3. Schedule C - Marketing Plan: Specific marketing activities, timeline, and budget allocation
4. Schedule D - Property Documents: List of all property-related documents provided by the seller
5. Appendix 1 - Agent's License: Copy of agent's current license and registrations
6. Appendix 2 - Property Photos: Official photographs of the property for listing purposes
7. Appendix 3 - Property Title Documents: Copies of relevant property ownership documents
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