The Employment Contract For Real Estate Agent is a specialized agreement used when hiring licensed real estate agents in Hong Kong. It serves as a crucial document that establishes the employment relationship between real estate agencies and their agents, incorporating requirements from both Hong Kong's employment laws and the Estate Agents Ordinance. This contract is essential for any real estate agency operating in Hong Kong, as it covers unique aspects of the profession including commission structures, property transaction handling, client management protocols, and professional licensing requirements. The document ensures compliance with local regulations while protecting both employer and employee interests in the context of Hong Kong's sophisticated property market.
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1. Parties: Identification of the employer (real estate agency) and employee (real estate agent), including their respective business and residential addresses
2. Background: Brief context of the employment relationship and confirmation of agent's licensing status
3. Definitions: Key terms used throughout the agreement including 'Commission', 'Property Transaction', 'Confidential Information', etc.
4. Appointment and Term: Nature of employment, commencement date, and term (fixed or continuous)
5. Duties and Responsibilities: Core duties as a real estate agent, compliance with Estate Agents Ordinance, and general employment obligations
6. Licensing Requirements: Obligation to maintain valid estate agent's license and related professional requirements
7. Compensation Structure: Base salary, commission rates, calculation methods, and payment terms
8. Working Hours and Location: Standard working hours, flexibility requirements, and primary office location
9. Leave Entitlements: Annual leave, sick leave, and other leave entitlements as per Employment Ordinance
10. Confidentiality: Protection of company, client, and property information
11. Restrictive Covenants: Non-compete and non-solicitation provisions
12. Termination: Notice periods, grounds for termination, and post-termination obligations
13. Company Policies: Compliance with company policies, procedures, and code of conduct
14. Governing Law: Confirmation of Hong Kong law as governing law
1. Probationary Period: Terms of initial probationary period - include if probation is required
2. Team Structure: Reporting lines and team responsibilities - include for larger agencies with complex structures
3. Performance Targets: Specific sales or listing targets - include if performance metrics are standardized
4. Benefits Package: Additional benefits beyond statutory requirements - include if offering extra benefits
5. Expense Policy: Rules for claiming work-related expenses - include if reimbursement is offered
6. Overseas Work: Terms for handling overseas property transactions - include if agency deals with international properties
7. Digital Marketing: Requirements for social media and online presence - include if digital marketing is key part of role
8. Vehicle Allowance: Terms of vehicle usage or allowance - include if transport benefits are provided
1. Schedule 1: Commission Structure: Detailed breakdown of commission rates for different types of transactions
2. Schedule 2: Territory Assignment: Specific geographical areas or property types assigned to the agent
3. Schedule 3: Performance Metrics: Detailed KPIs and performance evaluation criteria
4. Schedule 4: Company Equipment: List of company-provided equipment and usage terms
5. Appendix A: Code of Ethics: Professional conduct requirements and ethical guidelines
6. Appendix B: Compliance Checklist: Key regulatory requirements and compliance procedures
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Property Management
Real Estate Investment
Professional Services
Financial Services
Property Consulting
Commercial Property
Residential Property
Relevant Teams
Human Resources
Legal
Compliance
Operations
Residential Sales
Commercial Sales
Property Management
Marketing
Finance
Administration
Training and Development
Risk Management
Relevant Roles
Real Estate Agent
Property Consultant
Senior Property Agent
Associate Director - Real Estate
Property Sales Executive
Residential Property Specialist
Commercial Property Agent
Real Estate Marketing Executive
Property Negotiations Manager
Assistant Property Agent
Graduate Property Agent
Principal Property Agent
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