Broker Commission Agreement Template
Representation of the [Tenant.State] and its respective agencies
This real estate agent and/or broker commission agreement, hereinafter referred to as the “Agreement,” is entered into as of this (day) day of (month), (year), also known as the “Effective Date” by and between:
[Tenant.FirstName][Tenant.LastName]/[Tenant.Company]), hereinafter known as the “Tenant,” at the address [Tenant.StreetAddress], [Tenant.City], [Tenant.PostalCode], hereinafter known as the “Property” and ([Broker.FirstName][Broker.LastName]/[Broker.Company], hereinafter known as the “Broker,” and The State of [Owner.State], hereinafter known as the “Owner,” and collectively known as the “Parties.”
In this Agreement, the following provisions are true and correct:
A. The Owner has legal title and/or rights to the property or land located at the Property, located in (county name) County, [Owner.State] on which tract is an (office building/project, home building/project, apartment building/project), which may also be referred to as (name of project), but will still be further described as the “Property.”
Appraisers Parcel Number (if applicable):
B. The Broker has presented the Property space needs of the Tenant to the Owner and will render services in connection with the (purchase or leasing) of Property space to the Tenant.
C. Should a (Purchase or Lease), herein so-called, be consummate, the Owner agrees to pay The State of [Owner.State] a commission in consideration for the services rendered and to be rendered in consummating a (Purchase or Lease) according to the terms and conditions set form in the Agreement.
D. The Owner acknowledges, understands, and agrees that the Broker is serving as the (sole or non-exclusive) representative of the Tenants’ personal or company interests. Similarly, the Owner acknowledges, understands, and agrees that the applicable fee structures and commission rates outlined below have been mutually agreed upon by the Owner, Tenant, and Broker and have been included within the Owner’s proposal for (Purchase or Lease).
NOW, THEREFORE, in accordance with the mutual promises outlined in the Agreement and state laws and for other valuable consideration, the receipt and sufficiency of which the Parties acknowledge, the parties agree to the following terms: