Property Broker Agreement

Property Broker Agreement Template for Pakistan

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Key Requirements PROMPT example:

"I need a Property Broker Agreement for my luxury residential complex in Lahore, with exclusive rights granted to the broker for 6 months starting January 2025, including international marketing rights and a tiered commission structure based on property values."

Document background

The Property Broker Agreement is essential for formalizing the relationship between property owners and real estate brokers in Pakistan. This document is used when a property owner wishes to engage a professional broker to market, sell, or lease their property. The agreement must comply with Pakistani federal and provincial laws, including the Contract Act 1872 and relevant real estate regulations. It typically includes detailed provisions about the broker's authority, commission structure, marketing responsibilities, and the duration of the arrangement. The document serves as a crucial tool for protecting both parties' interests and ensuring clarity in their professional relationship while maintaining compliance with local real estate practices and regulatory requirements.

Suggested Sections

1. Parties: Identification of the property owner and the broker, including full legal names, addresses, and registration details

2. Background: Context of the agreement, including brief description of the property and the owner's intention to engage the broker

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Commission', 'Exclusive Rights', etc.

4. Appointment and Scope: Terms of the broker's appointment and detailed description of services to be provided

5. Duration: Term of the agreement, including start date and termination conditions

6. Broker's Rights and Obligations: Detailed responsibilities of the broker, including marketing efforts, showing property, and negotiation duties

7. Owner's Rights and Obligations: Property owner's responsibilities, including providing access to property and necessary documentation

8. Commission Structure: Detailed breakdown of commission rates, payment terms, and conditions for commission eligibility

9. Confidentiality: Obligations regarding confidential information and client data protection

10. Termination: Grounds for termination, notice requirements, and consequences of termination

11. Governing Law: Specification of Pakistani law as governing law and jurisdiction details

12. Dispute Resolution: Process for resolving disputes, including mediation or arbitration procedures

13. General Provisions: Standard clauses including notices, amendments, and entire agreement provisions

Optional Sections

1. Exclusivity: Used when the broker is granted exclusive rights to market and sell the property

2. Sub-Agents: Include when the broker is permitted to appoint sub-agents or collaborate with other brokers

3. International Marketing: Required when the broker will market the property internationally

4. Digital Marketing Rights: Specific provisions for online marketing and social media promotion

5. Property Management: Include when the broker will also provide property management services

6. Insurance Requirements: Detailed insurance obligations when required by property value or complexity

7. Post-Termination Obligations: Include when there are specific obligations that survive agreement termination

8. Force Majeure: Include during uncertain times or for long-term agreements to address unforeseen circumstances

Suggested Schedules

1. Property Details: Detailed description of the property, including location, size, features, and condition

2. Commission Schedule: Detailed breakdown of commission rates for different transaction types or value ranges

3. Marketing Plan: Specific marketing activities and timeline proposed by the broker

4. Required Documentation: List of necessary documents to be provided by the owner

5. Broker's Licenses: Copies of broker's professional licenses and registrations

6. Service Level Agreement: Detailed performance metrics and service standards

7. Approved Marketing Materials: Templates or examples of approved marketing materials and property listings

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

Property Management

Construction

Property Investment

Hospitality

Retail

Relevant Teams

Legal

Real Estate

Compliance

Sales

Business Development

Property Management

Contracts Administration

Operations

Relevant Roles

Real Estate Agent

Property Broker

Real Estate Manager

Property Manager

Legal Counsel

Compliance Officer

Contract Manager

Real Estate Director

Property Owner

Asset Manager

Business Development Manager

Sales Manager

Property Consultant

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