COMMISSION AGREEMENT

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Samples legal papers
March 20, 2023

COMMISSION AGREEMENT

This Agreement effective as __________________ (‘Effective Date’) is entered into by and between ___________________________(‘Realtor’)AND _______________________(‘Agent’). Individually referred to as ‘Party’ and collectively referred to as ‘Parties’. The Parties intend to be legally bound as follows:

  1. AGREEMENT PURPOSE. This Agreement is formed subject to the property located at ________________________________ which a Client may purchase from the Realtor or the brokerage firm. If the Client purchases the Property, the Agent will be subject to a commission payment.
  2. TERM AND TERMINATION. The term of this Agreement will begin on the commencement date and continue effectively for 30 days. If the Property is not purchased within 30 days, this Agreement will be terminated.
  3. CONSIDERATION. As and when the property is purchased, the Agent will receive 7% commission on the sale of the property. The Payment will be due within 5 days after the sale of the property.
  4. DISPUTE RESOLUTION. Any disputes arising between the Parties with regards to the subject matter of this Agreement will be solved through arbitration by a neutral arbitrator chosen by the Parties.
  5. GOVERNING LAW. This Agreement will be interpreted and construed according to the laws of the State of California. 
  6. ENTIRETY. It is agreed that there is no representation, warranty, collateral, or condition affecting this agreement unless provided in this agreement. This agreement will ensure to the benefit of and be binding to the Parties and their respective heirs, executors, administrators, successors and permitted assigns.

 IN WITNESS WHEREOF, the Parties execute this Agreement as follows:

Name: _______________________

Signature: _______________________

Date: ________________________

Name:  _______________________

Signature:  _______________________

Date: ________________________

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