The Contract Between Broker And Agent (Real Estate) is a fundamental document in the U.S. real estate industry that formalizes the professional relationship between brokers and their agents. This contract is essential when a licensed real estate agent joins a brokerage firm, whether as an independent contractor or employee. It addresses crucial aspects such as commission splits, marketing support, transaction handling, and compliance with state and federal regulations. The agreement protects both parties' interests while ensuring adherence to real estate laws and professional standards.
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1. Parties: Identification of broker and agent, including license numbers and contact information
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Authority: Agent's rights and limitations in representing the broker
5. Commission Structure: Details of compensation and commission splits
6. Term and Termination: Duration of agreement and termination conditions
7. Obligations and Duties: Responsibilities of both broker and agent
8. Compliance with Laws: Obligations to comply with federal, state, and local real estate laws and regulations
9. Confidentiality: Protection of confidential information and trade secrets
10. Insurance Requirements: Required insurance coverage and minimum limits
1. Training Requirements: Specific training obligations, used when broker provides mandatory training
2. Marketing Support: Details of marketing assistance, used when broker provides marketing resources
3. Team Structure: Used when agent operates within a team framework
4. Technology Requirements: Used when specific software or systems are mandatory
5. Non-Compete Clause: Used when broker requires post-termination restrictions on competition
1. Commission Schedule: Detailed breakdown of commission structures and splits
2. Office Policies: Broker's standard operating procedures and policies
3. Required Forms: Standard forms used in transactions
4. Insurance Requirements: Details of required insurance coverage and minimum limits
5. Training Schedule: Schedule of mandatory training sessions and continuing education requirements
Relevant legal definitions
Agreement
Agent
Broker
Brokerage
Commission
Commission Split
Confidential Information
Effective Date
Intellectual Property
Independent Contractor
License
Listing
MLS
Multiple Listing Service
Net Commission
Properties
Real Estate Services
REALTORยฎ
Sales Transaction
Service Area
Term
Territory
Transaction
Transaction Documents
Agent
Broker
Brokerage
Commission
Commission Split
Confidential Information
Effective Date
Intellectual Property
Independent Contractor
License
Listing
MLS
Multiple Listing Service
Net Commission
Properties
Real Estate Services
REALTORยฎ
Sales Transaction
Service Area
Term
Territory
Transaction
Transaction Documents
Clauses
Appointment and Authority
Commission Structure
Compensation
Confidentiality
Compliance
Data Protection
Dispute Resolution
Duration and Termination
Expenses
Force Majeure
Governing Law
Independent Contractor Status
Indemnification
Insurance Requirements
Intellectual Property
Marketing and Advertising
Non-Competition
Non-Solicitation
Office Resources
Professional Standards
Record Keeping
Representations and Warranties
Restrictions
Severability
Territory and Scope
Training
Waiver
Commission Structure
Compensation
Confidentiality
Compliance
Data Protection
Dispute Resolution
Duration and Termination
Expenses
Force Majeure
Governing Law
Independent Contractor Status
Indemnification
Insurance Requirements
Intellectual Property
Marketing and Advertising
Non-Competition
Non-Solicitation
Office Resources
Professional Standards
Record Keeping
Representations and Warranties
Restrictions
Severability
Territory and Scope
Training
Waiver
Relevant Industries
Relevant Teams
Relevant Roles
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