Real Estate Agent Contract With Broker Template for Malaysia

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Key Requirements PROMPT example:

Real Estate Agent Contract With Broker

"I need a Real Estate Agent Contract with Broker for my Kuala Lumpur agency that includes a 70-30 commission split, focuses on luxury residential properties, and incorporates a digital marketing requirement for all listings."

Document background
The Real Estate Agent Contract With Broker is a fundamental document in the Malaysian real estate industry, essential for formalizing the professional relationship between licensed real estate brokers and their affiliated agents. This agreement is particularly important in the Malaysian context, where real estate practice is strictly regulated by the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 and overseen by BOVAEA. The document is used when an agent seeks to operate under a broker's license and supervision, typically at the commencement of their professional relationship. It covers crucial aspects such as commission splits, professional obligations, compliance requirements, marketing guidelines, and operational procedures. The agreement ensures both parties understand their roles, responsibilities, and obligations while maintaining compliance with Malaysian real estate regulations and professional standards.
Suggested Sections

1. Parties: Identification of the broker and real estate agent, including license numbers and business addresses

2. Background: Context of the agreement, including the broker's business nature and agent's qualifications

3. Definitions: Key terms used throughout the agreement, including regulatory terms specific to Malaysian real estate practice

4. Appointment and Scope: Terms of the agent's appointment and authorized activities under the broker's supervision

5. License and Compliance: Requirements for maintaining necessary licenses and compliance with Malaysian real estate regulations

6. Commission Structure: Detailed breakdown of commission splits, payment terms, and conditions for earning commissions

7. Duties and Responsibilities: Specific obligations of both broker and agent, including supervision and reporting requirements

8. Professional Standards: Required adherence to BOVAEA standards and the Malaysian Code of Ethics for Estate Agents

9. Marketing and Branding: Guidelines for using the broker's brand and marketing materials

10. Confidentiality: Protection of confidential information and trade secrets

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

12. Post-Termination Obligations: Responsibilities and restrictions after contract termination

13. Dispute Resolution: Process for resolving disagreements under Malaysian law

14. General Provisions: Standard clauses including governing law, amendments, and notices

Optional Sections

1. Training and Support: Details of training programs and support services provided by the broker, included when the broker offers comprehensive agent development programs

2. Exclusive Territory: Geographic area restrictions or assignments, used when agents are given exclusive operating areas

3. Performance Targets: Specific sales or listing goals, included when the agreement includes performance-based incentives

4. Office Facilities: Terms for using broker's office facilities and equipment, included when physical office access is provided

5. Team Operations: Rules for operating within or leading a team, included when the agent works with or manages other agents

6. Insurance Requirements: Specific insurance coverage requirements, included when broker requires additional coverage beyond standard requirements

7. Digital Platform Usage: Terms for using broker's digital tools and platforms, included when specific technology is provided

Suggested Schedules

1. Schedule A - Commission Structure: Detailed commission splits, bonus structures, and payment schedules

2. Schedule B - Approved Marketing Materials: Templates and guidelines for marketing materials and brand usage

3. Schedule C - Office Procedures Manual: Standard operating procedures and administrative requirements

4. Schedule D - Technology Systems Access: List of provided technology tools and access credentials

5. Schedule E - Territory Map: Geographical area definitions if applicable

6. Appendix 1 - Required Forms: Standard forms required for transactions and reporting

7. Appendix 2 - Compliance Checklist: Regulatory compliance requirements and checklist

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

Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Property Management

Real Estate Investment

Property Consultancy

Real Estate Education and Training

Relevant Teams

Legal

Compliance

Human Resources

Operations

Training and Development

Business Development

Property Management

Agency Operations

Broker Support

Administrative Support

Relevant Roles

Real Estate Broker

Real Estate Agent

Property Consultant

Real Estate Agency Director

Compliance Officer

Legal Counsel

Human Resources Manager

Operations Manager

Training Manager

Business Development Manager

Agency Principal

Branch 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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