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Provide a template for a Real Estate Brokerage Representation Agreement

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Real Estate Brokerage Representation Agreement Template

Introduction
Parties
Purpose of Agreement
Broker's Duties and Responsibilities
Client's Duties and Responsibilities
Compensation
Term and Termination
Confidentiality
Disclaimer of Warranties
Indemnification
Governing Law and Dispute Resolution
Entire Agreement
Notices
Severability
Waiver
Binding Effect
Counterparts
Signatures

1. Introduction

This Real Estate Brokerage Representation Agreement (the "Agreement") is made and entered into as of [DATE], by and between [CLIENT NAME], a [STATE] [ENTITY TYPE] with a principal place of business at [ADDRESS] (the "Client"), and [BROKER NAME], a [STATE] [ENTITY TYPE] with a principal place of business at [ADDRESS] (the "Broker").

2. Parties

This Agreement is entered into by and between the Client and the Broker, each of whom is hereinafter referred to as a "Party" and collectively as the "Parties."

3. Purpose of Agreement

The purpose of this Agreement is to establish the terms and conditions under which the Broker will represent the Client in the purchase, sale, or lease of real estate property (the "Property").

4. Broker's Duties and Responsibilities

The Broker agrees to perform the following duties and responsibilities:

Marketing and Advertising: The Broker will market and advertise the Property in accordance with the Client's instructions and applicable laws and regulations.
Showings and Negotiations: The Broker will arrange showings of the Property to prospective buyers or tenants and will negotiate on behalf of the Client.
Due Diligence: The Broker will assist the Client in conducting due diligence on the Property, including obtaining necessary inspections and reports.
Contract Negotiation: The Broker will assist the Client in negotiating and drafting purchase agreements, sale agreements, or lease agreements.
Closing: The Broker will assist the Client in closing the transaction, including coordinating with the closing agent and other parties involved.

5. Client's Duties and Responsibilities

The Client agrees to perform the following duties and responsibilities:

Provide Information: The Client will provide the Broker with all necessary information about the Property, including but not limited to, the legal description, title information, and any relevant documents.
Cooperate with Broker: The Client will cooperate with the Broker in all aspects of the transaction, including providing access to the Property, responding to inquiries, and attending meetings.
Decision-Making: The Client will make all final decisions regarding the sale, purchase, or lease of the Property.
Closing Costs: The Client will be responsible for all closing costs associated with the transaction, as agreed upon by the Parties.

6. Compensation

The Broker will be compensated for its services as follows:

Commission: The Broker will receive a commission of [PERCENTAGE] of the sale price of the Property, or [AMOUNT] for the lease of the Property, payable upon the closing of the transaction.
Expenses: The Client will reimburse the Broker for all reasonable and documented expenses incurred by the Broker in connection with the transaction.

7. Term and Termination

This Agreement will commence on the date first written above and will continue until the earlier of:

Closing: The closing of the transaction for the sale, purchase, or lease of the Property.
Termination: The termination of this Agreement by either Party upon [NUMBER] days' written notice to the other Party.

8. Confidentiality

Each Party agrees to hold confidential all information received from the other Party in connection with this Agreement, except to the extent such information is required to be disclosed by law or regulation.

9. Disclaimer of Warranties

The Broker makes no warranties, express or implied, regarding the Property, including but not limited to, warranties of merchantability, fitness for a particular purpose, or non-infringement.

10. Indemnification

Each Party agrees to indemnify and hold harmless the other Party from and against any and all losses, damages, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to any breach of this Agreement by such Party.

11. Governing Law and Dispute Resolution

This Agreement will be governed by and construed in accordance with the laws of the State of [STATE]. Any dispute arising out of or relating to this Agreement will be resolved by binding arbitration in accordance with the rules of the American Arbitration Association.

12. Entire Agreement

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.

13. Notices

All notices and other communications hereunder will be in writing and will be deemed to have been duly given when delivered personally, sent by certified or registered mail, return receipt requested, or sent by overnight courier service, addressed as follows:

If to the Client: [CLIENT NAME] [ADDRESS]

If to the Broker: [BROKER NAME] [ADDRESS]

14. Severability

If any provision of this Agreement is held to be invalid or unenforceable, such provision will be struck and the remaining provisions will remain in full force and effect.

15. Waiver

No waiver of any breach of this Agreement will be deemed a waiver of any subsequent breach.

16. Binding Effect

This Agreement will be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.

17. Counterparts

This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

18. Signatures

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

[CLIENT NAME]

By: [NAME]

Title: [TITLE]

[BROKER NAME]