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Real Estate Broker Referral Agreement
"I need a Real Estate Broker Referral Agreement for my Riyadh-based brokerage firm to establish an exclusive referral arrangement with a Jeddah-based broker, focusing on luxury residential properties with a 25% referral fee structure."
1. Parties: Identification of the referring broker and receiving broker, including their respective license numbers and contact details
2. Background: Context of the agreement and brief description of the parties' business relationship
3. Definitions: Key terms used throughout the agreement, including 'Referred Client', 'Referral Fee', 'Qualifying Transaction'
4. Scope of Referral Arrangement: Details of the referral services and the territory or market covered by the agreement
5. Referral Process: Step-by-step procedure for making and accepting referrals
6. Compensation Structure: Referral fee calculations, payment terms, and conditions for fee eligibility
7. Obligations of Referring Broker: Duties and responsibilities of the broker making the referral
8. Obligations of Receiving Broker: Duties and responsibilities of the broker receiving the referral
9. Term and Termination: Duration of the agreement and conditions for termination
10. Confidentiality: Protection of confidential information and client data
11. Compliance with Laws: Commitment to comply with Saudi real estate laws and Sharia principles
12. Dispute Resolution: Process for resolving disputes under Saudi law
13. General Provisions: Standard clauses including notices, amendments, and governing law
1. Non-Solicitation: Prohibits direct solicitation of referred clients, used when there's concern about client poaching
2. Exclusivity: Terms for exclusive referral arrangements, used when parties want to establish exclusive territories or client relationships
3. Marketing and Promotion: Guidelines for how parties may market their relationship, used when public promotion is planned
4. Insurance Requirements: Specific insurance coverage requirements, used for high-value property transactions
5. Training and Support: Details of any training or support provided between parties, used in comprehensive partnership arrangements
6. Data Protection: Additional provisions for handling personal data, used when dealing with international clients or sensitive information
7. Force Majeure: Provisions for unforeseen circumstances, used when parties want specific protection against external events
1. Schedule A - Fee Structure: Detailed breakdown of referral fees, commission splits, and payment calculations
2. Schedule B - Referral Territory: Specific geographical areas or market segments covered by the agreement
3. Schedule C - Referral Procedures: Detailed operational procedures and forms for making referrals
4. Schedule D - Required Documentation: List of documents required for processing referrals and payments
5. Appendix 1 - Broker Licenses: Copies of current real estate broker licenses and certifications
6. Appendix 2 - Contact Information: Detailed contact information and escalation procedures for both parties
7. Appendix 3 - Standard Forms: Templates for referral submissions, client acknowledgments, and fee invoices
Authors
Residential Real Estate
Commercial Real Estate
Industrial Real Estate
Retail Real Estate
Hospitality Real Estate
Mixed-Use Development
Real Estate Investment
Property Management
Islamic Finance
Professional Services
Real Estate Operations
Legal
Compliance
Finance
Business Development
Client Relations
Administration
Islamic Finance Advisory
Risk Management
Property Management
Real Estate Broker
Property Consultant
Real Estate Agency Manager
Business Development Manager
Compliance Officer
Legal Counsel
Real Estate Operations Director
Commission Administrator
Client Relations Manager
Real Estate Transaction Coordinator
Broker License Administrator
Islamic Finance Advisor
Real Estate Portfolio Manager
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