The Co-Broker Agreement is essential for real estate professionals in Malta seeking to formalize collaborative arrangements with other licensed agents or agencies. This document becomes necessary when two or more real estate professionals wish to work together on property transactions, share listings, or extend their market reach while maintaining compliance with Maltese regulations. The agreement is particularly relevant since the introduction of mandatory licensing requirements under the Real Estate Agents, Property Brokers and Property Consultants Act in 2020, which professionalized the sector in Malta. It includes detailed provisions for commission sharing, professional obligations, client management, and regulatory compliance, serving as a crucial tool for structured collaboration in the Maltese real estate market.
Co Broker Agreement for Malta
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Key Requirements PROMPT example:
Co Broker Agreement
"I need a Co-Broker Agreement under Maltese law for a collaboration between my local real estate agency and an international broker from Spain, focusing on luxury properties in Malta with a minimum value of 鈧2 million, to commence from March 2025."
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1. Parties: Identification of the co-broking parties, including their license numbers and business details as required by Maltese regulations
2. Background: Context of the agreement and the intention to collaborate in real estate transactions
3. Definitions: Key terms used throughout the agreement, including specific real estate terminology and Maltese legal terms
4. Scope of Agreement: Details of the co-broking relationship and the types of properties or transactions covered
5. Term and Termination: Duration of the agreement and conditions for termination
6. Commission Structure: Detailed breakdown of commission sharing arrangements and payment terms
7. Responsibilities and Duties: Specific obligations of each broker, including compliance with Maltese real estate regulations
8. Confidentiality: Provisions for handling confidential information and client data in accordance with GDPR and Maltese data protection laws
9. Client Relationships: Guidelines for managing client relationships and preventing conflicts
10. Marketing and Advertising: Rules for joint marketing efforts and property promotion
11. Professional Standards: Commitment to maintain professional standards as required by Maltese real estate regulations
12. Dispute Resolution: Procedures for resolving disagreements between parties
13. Governing Law: Specification of Maltese law as governing law and jurisdiction
14. General Provisions: Standard contractual clauses including notices, amendments, and severability
1. Exclusivity Provisions: Used when the co-broking arrangement is exclusive for certain properties or areas
2. International Transactions: Include when dealing with international property transactions or foreign clients
3. Special Property Types: Add when dealing with specific property categories (commercial, luxury, etc.)
4. Training and Support: Include when parties agree to provide training or technical support to each other
5. Insurance Requirements: Additional insurance obligations beyond standard requirements
6. Online Platform Usage: Include when sharing online platforms or property management systems
7. Anti-Money Laundering Procedures: Detailed AML procedures when dealing with high-value transactions
8. Performance Metrics: Include when setting specific performance targets or evaluation criteria
1. Schedule A - Commission Structure: Detailed breakdown of commission splits for different property types and transaction values
2. Schedule B - Territory Map: Geographical areas covered by the co-broking arrangement
3. Schedule C - Marketing Guidelines: Specific guidelines for joint marketing and branding
4. Schedule D - Required Forms: Standard forms required by Maltese real estate regulations
5. Schedule E - Contact Details: Key contacts and escalation procedures for both parties
6. Appendix 1 - Compliance Checklist: Checklist of regulatory requirements and compliance procedures
7. Appendix 2 - Property Types: List of property types covered under the agreement
8. Appendix 3 - Service Level Agreement: Detailed service standards and response times
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Luxury Real Estate
Property Investment
Property Management
Real Estate Technology
Relevant Teams
Legal
Compliance
Real Estate Operations
Business Development
Property Management
Agency Relations
Finance
Risk Management
Marketing
Client Services
Relevant Roles
Real Estate Agent
Property Broker
Real Estate Agency Owner
Property Consultant
Real Estate Manager
Compliance Officer
Legal Counsel
Business Development Manager
Operations Director
Property Portfolio Manager
Real Estate Partnership Manager
Agency Relations Director
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