Co Broker Agreement for India

Co Broker Agreement Template for India

This Co-Broker Agreement is a legally binding document used in India that establishes the terms and conditions for cooperation between two or more real estate brokers or brokerage firms. The agreement complies with the Real Estate (Regulation and Development) Act, 2016 (RERA) and other applicable Indian laws. It outlines the commission sharing structure, defines responsibilities, establishes territorial rights if any, and sets forth procedures for lead sharing and transaction processing. The document includes provisions for dispute resolution, confidentiality, and compliance with local real estate regulations while protecting both parties' interests in joint property transactions.

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What is a Co Broker Agreement?

The Co-Broker Agreement is essential for real estate professionals in India who wish to formalize their collaboration in property transactions. This document becomes necessary when two or more licensed real estate brokers or agencies decide to work together to facilitate property deals, share leads, and split commissions. The agreement must comply with the Real Estate (Regulation and Development) Act, 2016 (RERA) and other relevant Indian legislation. It's particularly important in today's interconnected real estate market where brokers often need to collaborate to maximize their reach and efficiency. The document typically includes detailed provisions for commission sharing, lead management, territorial rights, confidentiality, and dispute resolution mechanisms. It serves as a foundation for professional relationships between brokers while ensuring regulatory compliance and protecting all parties' interests.

What sections should be included in a Co Broker Agreement?

1. Parties: Identification of the co-brokers entering into the agreement, including their registration details and RERA licenses

2. Background: Context of the agreement and brief description of the parties' business activities

3. Definitions: Key terms used throughout the agreement including 'Territory', 'Commission', 'Qualified Lead', etc.

4. Scope of Cooperation: Details of how the brokers will work together and share business opportunities

5. Commission Structure: Terms of commission sharing, calculation methods, and payment procedures

6. Responsibilities and Obligations: Specific duties and obligations of each broker in the co-broking relationship

7. Confidentiality: Protection of sensitive information shared between parties

8. Non-Solicitation: Restrictions on soliciting each other's clients or employees

9. Term and Termination: Duration of the agreement and conditions for termination

10. Dispute Resolution: Procedures for resolving conflicts between the parties

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

12. General Provisions: Standard clauses including notices, amendments, and severability

What sections are optional to include in a Co Broker Agreement?

1. Exclusive Territory: Used when brokers agree to specific geographic territories for their operations

2. Marketing and Branding: Include when there are specific requirements for co-branded marketing materials

3. Technology Integration: Required when parties need to integrate their property listing platforms or CRM systems

4. Training Requirements: Include when parties agree to provide training to each other's staff

5. Insurance Requirements: Used when specific insurance coverage is required for the co-broking relationship

6. Performance Metrics: Include when parties want to establish specific performance targets or KPIs

7. Data Protection: Required when significant personal data sharing is involved in the cooperation

What schedules should be included in a Co Broker Agreement?

1. Schedule A - Commission Structure: Detailed breakdown of commission splits for different types of transactions

2. Schedule B - Territory Map: Geographical boundaries of exclusive territories if applicable

3. Schedule C - Required Documentation: List of documents required for processing transactions

4. Schedule D - Standard Operating Procedures: Detailed procedures for lead sharing and transaction processing

5. Schedule E - Contact Information: Key personnel and escalation matrix for both parties

6. Appendix 1 - RERA Certificates: Copies of current RERA registration certificates

7. Appendix 2 - Insurance Certificates: Copies of relevant insurance policies if required

Authors

Alex Denne

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

Jurisdiction

India

Publisher

Genie AI

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial Property

Retail Property

Property Development

Property Investment

Property Management

Construction

Real Estate Technology

Relevant Teams

Legal

Real Estate Operations

Sales

Business Development

Compliance

Property Management

Contract Administration

Partnership Management

Risk Management

Finance

Relevant Roles

Real Estate Broker

Property Consultant

Real Estate Agent

Business Development Manager

Sales Director

Managing Director

Compliance Officer

Legal Counsel

Real Estate Operations Manager

Branch Manager

Property Manager

Sales Manager

Real Estate Partnership Manager

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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