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Broker Lease Commission Agreement for the United States

Broker Lease Commission Agreement Template for United States

A Broker Lease Commission Agreement is a legally binding contract used in the United States that establishes the terms and conditions under which a real estate broker will be compensated for successfully securing tenants for a property. This agreement outlines commission rates, payment schedules, and the scope of services provided by the broker. It complies with federal and state-specific real estate laws and typically includes provisions for protection periods, co-broker arrangements, and specific performance metrics.

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Broker Lease Commission Agreement

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What is a Broker Lease Commission Agreement?

The Broker Lease Commission Agreement serves as the foundational document establishing the business relationship between property owners and real estate brokers in leasing transactions within the United States. This agreement is essential when property owners seek professional assistance in securing tenants and want to clearly define commission structures and broker responsibilities. The document addresses crucial elements such as commission rates, payment timing, service scope, and protection periods, while ensuring compliance with federal and state real estate regulations. It's particularly important in commercial and residential leasing where significant commissions are involved and multiple parties may participate in the transaction.

What sections should be included in a Broker Lease Commission Agreement?

1. Parties: Identification of the broker and property owner/landlord

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement including commission, lease, property, and other relevant definitions

4. Scope of Services: Details of broker's services and responsibilities in securing tenants and negotiating leases

5. Commission Structure: Commission rates, calculation methods, and payment terms for different lease scenarios

6. Payment Terms: When and how commission payments will be made, including timing and method of payment

7. Term and Termination: Duration of agreement and conditions for termination by either party

8. Representations and Warranties: Statements of fact and promises made by both parties regarding their authority and capabilities

9. Governing Law: Specification of jurisdiction and applicable laws governing the agreement

What sections are optional to include in a Broker Lease Commission Agreement?

1. Protection Period: Post-termination period where broker may still earn commission for leads generated during the agreement

2. Co-Broker Arrangements: Terms for sharing commissions with other brokers and cooperation with other real estate professionals

3. Marketing Budget: Allocation and terms for property marketing expenses, including reimbursement provisions

4. Dispute Resolution: Procedures for resolving disputes through mediation or arbitration

5. Indemnification: Terms for mutual indemnification and liability protection

What schedules should be included in a Broker Lease Commission Agreement?

1. Schedule A - Property Details: Detailed description of the property or properties subject to the agreement

2. Schedule B - Commission Rate Schedule: Detailed breakdown of commission rates for different lease scenarios and terms

3. Schedule C - Broker's Services: Comprehensive list of services to be provided by the broker

4. Schedule D - Marketing Plan: Detailed marketing strategy, timeline, and budget allocation if applicable

5. Schedule E - Excluded Prospects: List of any prospective tenants excluded from the commission agreement

Authors

Alex Denne

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

Jurisdiction

United States

Document Type

Broker Agreement

Cost

Free to use
Clauses






























Industries

RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate transactions and settlement services

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on protected characteristics

Americans with Disabilities Act: Federal law ensuring equal access and preventing discrimination against individuals with disabilities in real estate transactions

Anti-Trust Laws: Federal laws preventing anti-competitive behavior and price fixing in real estate markets

Truth in Lending Act: Federal law requiring disclosure of credit terms and standardizing how costs are calculated and disclosed

State Real Estate Licensing Laws: State-specific regulations governing the licensing and conduct of real estate professionals

State Real Estate Commission Rules: Regulatory framework established by state real estate commissions for broker conduct and transactions

State Broker Commission Laws: State-specific regulations governing how real estate commissions can be structured and paid

State Contract Laws: General contract law principles and requirements specific to each state

NAR Code of Ethics: Professional standards and ethical guidelines established by the National Association of REALTORSยฎ

IRS Independent Contractor Guidelines: Federal tax regulations defining the relationship between brokers and their agents as independent contractors

State Labor Laws: State-specific regulations governing employment relationships and worker classification

Statute of Frauds: Legal requirement that certain contracts, including real estate agreements, must be in writing to be enforceable

Commercial Leasing Regulations: State-specific laws governing commercial lease agreements and broker involvement

Local Zoning Laws: Municipal and local regulations affecting commercial property use and leasing

Consumer Protection Acts: State and federal laws designed to protect consumers in real estate transactions

FTC Regulations: Federal Trade Commission rules governing fair business practices and consumer protection in real estate

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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