REF: REAL-ESTATE-AGENT-COMMISSION-AGREEMENT REAL ESTATE AGENT COMMISSION AGREEMENT
(Mandate Agreement under the Real Estate Regulation and Development Act 2016 - RERA)
THIS REAL ESTATE BROKERAGE COMMISSION AGREEMENT is entered into on this [Agreement Date] at Pune, India:
BY AND BETWEEN:
[Brokerage Agency / Trade Name], operated by licensed Real Estate Agent [Real Estate Agent Full Name], registered under the Real Estate (Regulation and Development) Act 2016 (RERA) with Registration Number [State RERA Registration Number], having office at [Broker Office Address] (hereinafter referred to as the "AGENT / BROKER", which expression shall include successors and assigns) of the FIRST PART;
AND
[Property Owner / Client Full Name], residing at [Property Complete Address] (hereinafter referred to as the "CLIENT / PRINCIPAL", which expression shall include legal heirs, representatives, and assigns) of the SECOND PART.
WHEREAS:
A. The Client represents and warrants that they are the absolute lawful owner / authorized titleholder of the real estate property situated at [Property Complete Address] ("Subject Property");
B. The Client intends to effect a Residential Sale transaction for the Subject Property at a target consideration / asking price of INR [Target Asking Price / Consideration (in INR)];
C. The Agent is a licensed real estate broker possessing the necessary infrastructure, buyer network, and marketing capabilities to facilitate the transaction;
D. The Parties desire to formalize the mandate, commission entitlement, exclusivity, and payment obligations.
NOW, THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS:
1. APPOINTMENT AND TRANSACTION MANDATE
The Client hereby appoints the Agent to market, advertise, present, and negotiate the Residential Sale transaction for the Subject Property located at [Property Complete Address] at the agreed target price of INR [Target Asking Price / Consideration (in INR)], subject to final price acceptance by the Client in writing.
2. EXCLUSIVITY AND DURATION
(a) Exclusivity: [Brokerage Exclusivity Clause]. During the exclusivity period, the Client shall not engage any other broker or independently sell/lease the property without giving written credit to the Agent;
(b) Validity Duration: [Agreement Validity Period]. This mandate shall remain in full force and effect for [Agreement Validity Period], unless extended in writing by mutual consent.
3. BROKERAGE COMMISSION RATE AND PAYMENT TERMS
(a) Commission Rate: In consideration of the professional services rendered by the Agent resulting in a transaction, the Client shall pay to the Agent a brokerage commission of [Brokerage / Commission Rate];
(b) Payment Milestones: [Commission Payment Terms & Triggers];
(c) Statutory Taxes: The Client acknowledges that Goods and Services Tax (GST) at statutory rates shall be payable over and above the commission amount against a valid tax invoice.
4. PROTECTION PERIOD (TAIL CLAUSE)
If, within one hundred and eighty (180) days following the expiration or termination of this Agreement, the Client enters into an Agreement to Sell, Sale Deed, Memorandum of Understanding, or Lease Agreement for the Subject Property with any prospective buyer, tenant, or entity that was introduced, registered, or inspected the property through the Agent during the mandate term, the Client shall remain fully liable to pay the full agreed brokerage commission to the Agent as if the transaction had been concluded during the term.
5. AGENT OBLIGATIONS AND RERA COMPLIANCE
The Agent undertakes to:
(a) Conduct all negotiations honestly, ethically, and in strict compliance with the Real Estate (Regulation and Development) Act 2016 and state RERA rules;
(b) Prominently display RERA Registration Number [State RERA Registration Number] on all marketing collaterals and site boards;
(c) Not misrepresent any structural, title, or legal facts regarding the Subject Property to prospective buyers;
(d) Assist the Client with standard documentation, KYC verification of buyers, and scheduling registration appointments at the Sub-Registrar office.
6. CLIENT REPRESENTATIONS AND TITLE WARRANTIES
The Client warrants that the Subject Property is free from all encumbrances, litigation, liens, statutory attachments, and family partition claims. The Client shall provide true copies of title deeds, Sanction Plans, Commencement / Completion Certificates, Encumbrance Certificates, and latest property tax receipts.
7. GOVERNING LAW AND DISPUTE RESOLUTION
This Agreement is executed under the Indian Contract Act 1872 and state RERA regulations. Any disputes arising under this Agreement shall be referred to arbitration in accordance with the Arbitration and Conciliation Act 1996, and the competent courts at the place of the Agent's office shall have exclusive jurisdiction.
IN WITNESS WHEREOF, the Parties have executed this Commission Agreement on the day, month, and year first above written.
__________________________________
REAL ESTATE AGENT: [Real Estate Agent Full Name]
For: [Brokerage Agency / Trade Name]
RERA Registration No.: [State RERA Registration Number]
Chamber Address: [Broker Office Address]
__________________________________
CLIENT / OWNER: [Property Owner / Client Full Name]
Property Address: [Property Complete Address]
WITNESSES:
1. Signature: ______________________ Name & Address: ________________________________
2. Signature: ______________________ Name & Address: ________________________________
SCHEDULE OF TERMS, COVENANTS & CONDITIONS(6 ACTIVE CLAUSES)
1. TENURE & TERM OF LEASE: The term of this lease/tenancy shall be for a fixed duration of {{duration_months}} months commencing on {{commencement_date}} and terminating on {{expiry_date}} unless renewed by mutual consent.
2. MONTHLY RENT & DUE DATE: The Second Party covenants to remit a monthly rent of Rs. {{monthly_rent}} payable in advance on or before the {{rent_due_day}} day of each calendar month.
3. REFUNDABLE SECURITY DEPOSIT: The Second Party has deposited an interest-free refundable security sum of Rs. {{security_deposit}} with the First Party, returnable within 7 banking days of vacant handover.
4. PERMITTED USE OF PREMISES: The demised premises shall be utilized exclusively for lawful residential dwelling purposes and shall not be converted into commercial or industrial use.
5. STATUTORY ARBITRATION (ACT 1996): Any dispute arising hereunder shall be referred to a sole arbitrator appointed mutually under the Arbitration and Conciliation Act, 1996, with seat of arbitration in the execution city.
6. SUB-LEASE & ASSIGNMENT PROHIBITION: The Second Party is strictly prohibited from sub-letting, parting with possession, or assigning any portion of the premises to third parties without prior written consent.
ATTESTATION BY INDEPENDENT WITNESSES (AS PER APPLICABLE LAW)
First Witness
Signature:
Full Name:
Parent / Spouse:
Address:
Govt ID / Aadhaar:
Second Witness
Signature:
Full Name:
Parent / Spouse:
Address:
Govt ID / Aadhaar:
