The Real Estate Commission Agreement (Real Estate) serves as the foundational document establishing the professional relationship between real estate brokers and their clients in Austria. This agreement is essential for any real estate brokerage arrangement and must comply with the strict requirements of Austrian law, particularly the Maklergesetz and consumer protection regulations. It is used when engaging a broker for property sales, purchases, or leases, and includes crucial details about commission rates, payment conditions, scope of services, and broker obligations. The document is designed to protect both parties' interests while ensuring transparency and compliance with Austrian real estate regulations, including mandatory disclosure requirements and commission caps. It's particularly important given Austria's specific requirements for real estate transactions and broker responsibilities.
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1. Parties: Identification of the broker and the client, including full legal names, addresses, and registration details
2. Background: Context of the agreement, including the client's intention to sell/lease/purchase property and engagement of the broker
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Commission', 'Successful Transaction', etc.
4. Scope of Services: Detailed description of broker's services, including marketing, viewings, and negotiation assistance
5. Broker's Obligations: Specific duties and responsibilities of the broker, including information obligations under Austrian law
6. Client's Obligations: Client's responsibilities, including providing accurate information and cooperation
7. Commission Structure: Detailed breakdown of commission rates, calculation method, and payment terms
8. Payment Terms: Conditions for commission payment, including timing and method
9. Duration and Termination: Term of the agreement and conditions for termination
10. Data Protection: GDPR compliance provisions and data handling procedures
11. Governing Law: Confirmation of Austrian law application and jurisdiction
12. Signatures: Execution blocks for all parties
1. Dual Agency: Required when broker may represent both seller and buyer
2. International Transactions: Additional provisions for cross-border real estate transactions
3. Marketing Budget: Specific terms regarding marketing expenses and reimbursement
4. Exclusivity: Terms for exclusive representation rights
5. Property Management: Additional services for property management if offered
6. Special Commission Arrangements: For non-standard commission structures or success fees
7. Force Majeure: Provisions for extraordinary circumstances affecting performance
1. Property Details: Detailed description of the property or property requirements
2. Commission Calculation Examples: Illustrations of how commission will be calculated in various scenarios
3. Marketing Plan: Detailed marketing strategy and activities
4. Required Documentation: List of documents required from the client
5. Broker's License and Qualifications: Copies of relevant professional licenses and certifications
6. Standard Information Form: Mandatory consumer information form under Austrian law
7. Data Processing Agreement: Detailed GDPR-compliant data processing terms
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