Ask a lawyer:
Provide a template for a Real Estate Co-Brokerage Agreement

mwakili.com

Real Estate Co-Brokerage Agreement Template

Introduction
Parties
Scope of Agreement
Brokerage Fees
Marketing and Advertising
Confidentiality
Termination
Dispute Resolution
Governing Law
Entire Agreement
Notices
Severability
Waiver
Binding Effect
Counterparts
Signatures

Introduction

This Real Estate Co-Brokerage Agreement ("Agreement") is made and entered into as of [DATE], by and between [NAME OF BROKER 1], a [STATE] [ENTITY TYPE], with a principal place of business at [ADDRESS] ("Broker 1"), and [NAME OF BROKER 2], a [STATE] [ENTITY TYPE], with a principal place of business at [ADDRESS] ("Broker 2").

Parties

Broker 1: [NAME OF BROKER 1]
Broker 2: [NAME OF BROKER 2]

Scope of Agreement

Purpose: This Agreement sets forth the terms and conditions under which Broker 1 and Broker 2 will cooperate in the marketing, sale, and/or lease of the following real estate property ("Property"): [PROPERTY DESCRIPTION].
Responsibilities:
- Broker 1: Broker 1 shall be responsible for [LIST RESPONSIBILITIES].
- Broker 2: Broker 2 shall be responsible for [LIST RESPONSIBILITIES].
Exclusive Rights: This Agreement does not grant either Broker exclusive rights to represent the Property. Both Brokers may independently market and negotiate the sale or lease of the Property.

Brokerage Fees

Commission: The total brokerage commission for the sale or lease of the Property shall be [AMOUNT] (the "Commission").
Split: The Commission shall be split between Broker 1 and Broker 2 as follows: [PERCENTAGE] to Broker 1 and [PERCENTAGE] to Broker 2.
Payment: The Commission shall be paid by [PARTY RESPONSIBLE FOR PAYMENT] upon the closing of the sale or lease of the Property.

Marketing and Advertising

Joint Marketing: Broker 1 and Broker 2 shall cooperate in marketing and advertising the Property.
Marketing Materials: Broker 1 and Broker 2 shall share marketing materials, including but not limited to property brochures, flyers, and online listings.
Advertising: Broker 1 and Broker 2 shall coordinate their advertising efforts to ensure consistency and avoid duplication.

Confidentiality

Confidential Information: Each Broker agrees to hold confidential all information received from the other Broker in connection with this Agreement, including but not limited to financial information, marketing strategies, and client information.
Exceptions: This confidentiality obligation does not apply to information that:
- is already publicly known;
- is rightfully obtained from a third party; or
- is required to be disclosed by law.

Termination

Termination by Agreement: This Agreement may be terminated by mutual agreement of Broker 1 and Broker 2.
Termination for Breach: This Agreement may be terminated by either Broker upon the other Broker's material breach of this Agreement, provided that the breaching Broker is given [NUMBER] days' written notice to cure the breach.
Termination for Default: This Agreement may be terminated by either Broker upon the other Broker's insolvency, bankruptcy, or receivership.

Dispute Resolution

Negotiation: Any dispute arising out of or relating to this Agreement shall be attempted to be resolved through good faith negotiations between Broker 1 and Broker 2.
Arbitration: If the parties are unable to resolve the dispute through negotiation, the dispute shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of [STATE].

Entire Agreement

This Agreement constitutes the entire agreement between Broker 1 and Broker 2 with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.

Notices

All notices and other communications hereunder shall be in writing and shall 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 Broker 1: [ADDRESS]
If to Broker 2: [ADDRESS]

Severability

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

Waiver

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

Binding Effect

This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Counterparts

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

Signatures

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

[NAME OF BROKER 1]

By: [NAME]

Title: [TITLE]

[NAME OF BROKER 2]