DESIGNATED BROKER AGREEMENT

This Designated Broker Agreement (the “Agreement”) is entered into on this [INSERT DATE], (the “Effective Date”) between [INSERT YOUR REAL ESTATE FIRM’S NAME], a real estate company organized and existing under the laws of Washington State, with its principal place of business located at [INSERT YOUR REAL ESTATE FIRM’S ADDRESS], (hereinafter the “Company”),  and [INSERT DESIGNATED BROKER’S NAME] an individual residing at [INSERT DESIGNATED BROKER’S ADDRESS] (hereinafter the “Designated Broker”), also individually referred to as a “Party” and collectively referred to as the “Parties”.

RECITALS:

WHEREAS, the Company is engaged in the business of real estate and desires to enlist the services of broker as the Designated Broker;

WHEREAS, the Designated Broker possesses the knowledge, skills, and experience necessary for the Designated Broker role; and

WHEREAS, the Designated Broker wishes to accept such employment on the terms and conditions herein.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties agree as follows:

  1. TERM

This Agreement shall commence on [INSERT EFFECTIVE DATE] and continue for a period of two (2) years.

  1. DESIGNATED BROKER RESPONSIBILITIES

 

  1. The Designated Broker shall serve as the primary broker for the Company and shall be responsible for overseeing and managing the real estate operations, including but not limited to:
  • Recruit, hire, and supervise real estate agents and staff members;
  • Oversee and manage the day-to-day operations of the Company;
  • Provide guidance and support to real estate agents in their transactions;
  • Maintaining client relationships and facilitating real estate transactions;
  • Implementing marketing strategies to promote the Company’s services;
  • Supervising and training real estate agents affiliated with the Company;
  • Ensure compliance with all applicable laws, regulations, and industry standards;
  • Maintain accurate and up-to-date records of transactions and financial information;
  • Represent the Company in negotiations with clients, vendors, and other stakeholders;
  • Develop and implement sales and marketing strategies to achieve business objectives;
  • Perform any other duties reasonably related to the operation and success of the Company; and
  • Collaborate with the Company’s management team to establish and achieve business goals.
  1. The Designated Broker shall exercise reasonable care, skill, and diligence in performing their duties, in accordance with industry standards and practices.
  • PAYMENT TERMS

 

  1. The Designated Broker shall be entitled to a share of the profits earned by the Company.
  1. After deducting all expenses, the Designated Broker shall receive a monthly payment representing 20% of the remaining profits.
  • Specific payment terms, including profit distribution and other financial considerations, will be outlined in a separate Profit-Sharing Agreement between the Parties.
  1. CONTROLLING INTEREST AND DECISION-MAKING POWER

 

  1. The Designated Broker shall have a 51% controlling interest in certain operational or financial matters as specified [SPECIFY THESE] in this Agreement.
  1. The Designated Broker shall consult with the majority owner and seek their approval on matters such as:
  • Major investments and acquisitions;
  • Amendments to key policies and procedures;
  • Changes to the Company’s strategic direction;
  • Modifications to the Company’s organizational structure; and
  • Any other significant decisions affecting the Company’s operations or finances.
  • Notwithstanding the Designated Broker’s controlling interest, the Company’s majority ownership ensures that ultimate decision-making power on critical business decisions, including but not limited to strategic direction, major financial investments, and changes to operational policies, rests with the Company.
  1. CONFIDENTIALITY

 

  1. During the course of their employment, the Designated Broker may have access to and become acquainted with confidential and proprietary information belonging to the Company.
  1. The Designated Broker agrees to keep such information confidential and not disclose it to any third party, except as required by law or with the prior written consent of the Company.
  1. NON-COMPETE AND NON-SOLICITATION

During the term of this Agreement and for a period of [INSERT DURATION] after its termination, the Designated Broker shall not engage in any competitive activities or solicit clients, customers, or employees of the Company, directly or indirectly, for their own benefit or for the benefit of any other person or entity.

  • DISPUTE RESOLUTION

The Parties agree that any disputes arising from or relating to this Agreement shall first be resolved through mediation.

  • TERMINATION

This Agreement may be terminated under the following circumstances:

  • Expiration of the agreed-upon term.
  • Material breach of contract by either Party.
  • Mutual agreement to terminate the contract.
  • Other grounds for termination as specified in the contract.
  1. GOVERNING LAW AND JURISDICTION

 

  1. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington.
  1. Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the state and federal courts located in the State of Washington.
  1. GENERAL PROVISIONS

 

  1. This Agreement, except for the obligations and provisions set forth in the separate Profit-Sharing Agreement and Non-Disclosure Agreement (NDA) executed between the Parties, constitutes the entire agreement between the Parties and supersedes all prior communications and agreements between the Parties, whether oral or written, with respect to the subject matter hereof.
  1. This Agreement may not be amended or modified except in writing signed by both Parties.
  • This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
  1. In the event that any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
  1. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and assigns.

IN WITNESS WHEREOF, the parties have executed this Designated Broker Agreement as of the Effective Date.

[Your Real Estate Company’s Name]

By: ________________________

Name: ______________________

Title: _______________________

[Designated Broker’s Name]

By: ________________________

Name: ______________________

Date: ________________________

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