CO-BROKERAGE AND FEE SHARING AGREEMENT

How two brokers share the fee on one transaction

Executed at __________ on __________.

Parties

1. The Listing Broker — __________, of __________, mobile __________, email __________ ("the Listing Broker").

2. The Co-Broker — __________, of __________, mobile __________, email __________ ("the Co-Broker").

Background

A. The Listing Broker acts for __________ ("the Client") in a sale or letting of the property at __________, in __________: __________ ("the Property").

B. The Co-Broker has introduced __________ ("the Counterparty") as a prospective buyer or tenant of the Property.

1. Sharing the fee

1.1 Whatever fee the Client pays for a transaction with the Counterparty concerning the Property ("the Fee") is shared between the brokers: 50 per cent to the Listing Broker, and the balance to the Co-Broker.

1.2 The shares apply to the Fee actually received. Each broker accounts for its own taxes on its own share.

1.3 No share is payable on a transaction with anyone other than the Counterparty, and neither broker has any claim to the other's fee on any other transaction.

2. Billing and payment

2.1 __________

2.2 A broker who receives any part of the other broker's share holds it for the other broker, and pays it on within 7 days of receiving it, with a statement of what the Client paid.

2.3 Neither broker may agree to reduce the Fee, or give the Client a discount or rebate, without the other's written consent.

3. If the Client does not pay

3.1 The brokers will pursue an unpaid Fee together. The cost of doing so, an advocate's fees included, is shared in the same proportions as the Fee, and so is anything recovered.

3.2 Neither broker is liable to the other for the Client's failure to pay.

4. Conduct

4.1 Each broker will keep the other informed of every offer, counter-offer and material development in the transaction.

4.2 In this transaction, neither broker will deal directly with the other's principal — the Client, for the Co-Broker, or the Counterparty, for the Listing Broker — except through, or with the knowledge of, the other broker. This clause restricts nothing beyond this transaction.

4.3 Where the Property is in a project registered with a Real Estate Regulatory Authority, each broker will deal in it only if registered as a real estate agent.

5. Telling the Client

5.1 The Listing Broker will tell the Client in writing, before the transaction is concluded, that the Fee is shared with the Co-Broker.

6. General

6.1 This agreement is governed by the law in force in __________, and only the courts having jurisdiction where the Property is situated may decide a dispute about it.

6.2 Nothing in this agreement makes the brokers partners, or either of them the agent of the other.

6.3 A notice under this agreement is given in writing, by hand or by email, to the address given for the other broker above.

Personal data

This notice is given under the Digital Personal Data Protection Act, 2023.

The names, addresses, telephone numbers and email addresses in this document are collected for one purpose: sharing the fee between the two brokers on this transaction. Each broker keeps a copy of this record. It may be shown only to the two brokers, their accountants, and the Client where clause 5 requires it, and it will not be used for marketing.

If the engagement does not go ahead, the personal data in this document is kept for 90 days from that decision and then erased. If it goes ahead, this record is kept for the term of the engagement plus 12 months and then erased, unless a law requires a particular record to be kept longer.

Consent to the use of personal data in this document may be withdrawn at any time by writing to __________. A request to correct inaccurate data, to erase data once its purpose has ended, or to complain about how it has been handled may be sent to the same address, and will be answered within 30 days.

This document does not collect any Aadhaar number, PAN, bank-account detail or copy of an identity document; the names of the Client and the Counterparty are recorded only to identify the transaction.

Signatures

The Listing Broker
Signature: ________________________
Name: __________

The Co-Broker
Signature: ________________________
Name: __________

Witnesses

Witness 1
Signature: ________________________
Name: ________________________
Address: ________________________

Witness 2
Signature: ________________________
Name: ________________________
Address: ________________________