Real Estate Agent Agreement

REAL ESTATE AGENT AGREEMENT

This Real Estate Agent Agreement is made on ________ (the "Effective Date") between ________, an individual of the following address:

________

Hereinafter referred to as (the "Client" which expression shall where the context so admits include its successors-in-title and assigns) of the one part.

AND

________, an individual of the following address:

________

Hereinafter referred to as (the "Agent" which expression shall where the context so admits include its successors-in-title and assigns) of the other part.

WHEREAS

A. The Client is the owner of the Property particularly described in this Agreement.

B. The Client has contracted the Agent to provide marketing services to sell the Property particularly described in this Agreement in accordance with the terms of this Agreement.

1. AGREEMENT

The Client hereby appoints the Agent to act as the Client's Agent and grants the Agent the exclusive right to sell the property described as follows (the "Property"):

________

The Agent undertakes to use their marketing skills and other expertise to sell the Property. This Agreement shall commence on the Effective Date and shall end on ________.

2. DESCRIPTION OF SERVICES

2.1. The Agent agrees to provide the following services in relation to the Property (the "Services"):

2.1.1. The Agent shall market or otherwise solicit offer on the Property and shall use their best efforts to sell the Property in accordance to the terms of this Agreement.

2.1.2. The Agent shall offer the Property for no less than ₦________ (________) unless otherwise agreed in writing by the Client.

2.1.3. The Agent shall conduct negotiations on behalf of the Client and report all offers on the Property to the Client.

2.1.4. The Agent shall prepare the Property for inspections by prospective buyers and assist the Client in entering a binding agreement for the Sale of the Property.

2.2. The Agent agrees to perform the Services diligent and with due care and to act in the best interest of the Client at all times.

3. OBLIGATIONS OF THE Property Owner

Under this Agreement, the Property Owner shall have the following obligations:

(I). to pay the Agent Fees, out of pocket expenses and all other fees required;

(II). to provide all documents and other materials required to complete the sale of the Property;

(III). the Property Owner shall pay all relevant taxes required under the law.

4. SALE PRICE

The price of the Property shall be ₦________ (________) (the "Sale Price"). The Client reserves the right to change the Sale Price. Nothing in this Agreement confers the right to the Agent to accept the offer on behalf of the Client. The Client must at all times, provide their acceptance in writing before the Agent can accept any offer.

5. FEES AND COMMISSION

5.1. As compensation for all the services rendered by the Agent under this Agreement, the Agent shall receive a one time fixed fee in the sum of ₦________ (________) for the Agent's Services (the "Fee").

5.2. Such compensation will be made in cash.

5.3. Payment shall be made upon completing the sale and purchase transaction.

5.4. The Agent shall be entitled to be reimbursed of all incidental and out-of-pocket expenses reasonably incurred on behalf of the Property Owner, provided that same have been authorized by the Property Owner prior to being incurred and with the provisions of appropriate receipts.

6. LATE FEES

If the Property Owner fails to pay the Fees after the due date, the Property Owner shall pay ₦________ (________) to the Agent as late fee or penalty.

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8. CONFIDENTIALITY OBLIGATIONS

8.1. The Parties acknowledge that by virtue of this Agreement, the Agent may have access to non-public confidential information and may also possess certain information regarding the business operation of the Property Owner. Consequently, the Agent agrees to maintain the secret nature of such information. The Parties also acknowledge that depending on the circumstance, they may become the disclosing party or receiving party.

8.2. Confidential information includes all information or materials of whatever nature relating to the purpose disclosed by the Parties by sharing of any written material or by any oral or written statement whatsoever which includes but not limited to documents, techniques, practices, tools, specifications, inventions, patents, trademark, soft wares, drawings, programmes but shall not include the following information or data:

(I) which can be established by written records to be already known to the Agent or the public at the time of the disclosure;

(II) which enters the public domain through no fault of the Agent;

(III) is given by the Property Owner to third parties without any restrictions;

(IV) is given to the Agent by any third party who is in possession of such information and has the legal right to disclose it; or

(V) that is required by law to be disclosed.

8.3. Trade secret information includes all formulas, pattern, designs, process, methods or other information that is not known or easily ascertainable to the general public. The Parties hereby agree as follows:

(I) to take proper and reasonable measures to ensure the confidentiality of the confidential information under this Agreement;

(II) not to make public, publish or otherwise disclose in whole or part, any information relating to the practice, business dealings or other matters relating to this Agreement without obtaining the express consent of the other Party;

(III) not to use the confidential information for any purpose other than the purpose for which this Agreement was created.

8.4. Each Party agrees not to disclose the trade secret information or confidential information during and after the termination of this Agreement for as long as it remains a trade secret.

9. DEFAULT

The occurrence of either of the following events shall constitute a default or fundamental breach and shall entitle the other party to rescind this Agreement (the "Fundamental Breach"):

(I) the failure of the Property Owner to pay the Fee or make other payments under this Agreement;

(II) the seizure, acquisition, or expropriation of the Property underlying this Agreement;

(III) the sale of the Property by another agent authorized by the Property Owner within the exclusivity period described in this Agreement;

(IV) the failure of the Agent to perform the Services described under this Agreement;

(V) Any third-party claim, lien, or encumbrance on the Property that makes it impossible to sell the Property.

10. TERM AND TERMINATION OF AGREEMENT

10.1. Except as otherwise agreed, the Agent shall commence work on the Effective Date. Subject to the above provision, either of the Parties shall have the right to terminate this Agreement if the other Party fails to perform a fundamental obligation under this Agreement. In the case of the Property Owner, the Property Owner may terminate this Agreement if the Agent fails to fulfill the Services under this Agreement, and the Agent has failed to perform within 30 days.

10.2. The Agent may have the right to terminate this Agreement if the Property Owner fails to pay the Fees described in this Agreement upon several requests.

10.3. The Property Owner may terminate if the Agent defaults or commits a Fundamental Breach. Upon termination or expiry of this Agreement, the Agent agrees to do the following:

(I) immediately return or to the Property Owner the keys to the Rental Property, confidential information, documents, books, materials and any other property belonging to and relating to the Rental Property which is in the possession of the Agent;

(II) delete any information relating to the Rental Property on any electronic device, hard disk etc which is in the possession of the Agent;

(III) not disclose or use any of the Property Owner's trade secrets. The Property Owner shall be entitled to seek an injunction or any other legal remedy to prevent such disclosure or use.

10.4. Upon termination, the Property Owner shall pay any Fees up to the date of termination and any fees falling due for payment for the services rendered by the Agent.

11. FORCE MAJEURE

11.1. Neither party shall, before the Expiration or Termination Date, be liable for any failure to fulfill any term of this Agreement if the fulfillment has been delayed, hindered, interfered with, or prevented by force majeure, which in this Agreement, shall mean any circumstances:

(I) which is beyond a Party's control;

(II) which such Party could not have reasonably avoided or overcome; and

(III) which is not attributable to the other Party.

11.2. Without prejudice to the generality of the foregoing, force majeure shall include the following events and circumstances:

(I) war, hostilities, or invasion;

(II) rebellion, terrorism, revolution, insurrection, military or usurped power;

(III) riot, civil disorder, or other acts that may reasonably affect the ability of the Party to fulfill its obligations under this Agreement.

12. INDEMNIFICATION

The Agent agrees to indemnify and hold the Property Owner and the Brand's Affiliates harmless against any suit, action, damages, liabilities, expense of any kind whatsoever, loss, damage, judgement, settlements and any kind of loss that may incur as a result of the Agent's conduct and breach of any term contained in this Agreement, which may include:

(I) the Agent's use of the Property Owner's Intellectual Property;

(II) a violation of any law, rule, or regulation regulating digital marketing that is committed by the Agent or Agent's agent;

(III) any harm or injury suffered by any third party due to the Agent's fault;

(IV) any cost incurred by the Property Owner or the Brand's Affiliates in enforcing its rights under this Agreement, including all reasonable attorney fees.

13. MODIFICATION AND VARIATION

The Parties can modify any part of this Agreement with the express consent of the other Party. If the Parties agree to vary the entire Agreement, and a new Agreement is created to regulate the relationship of the Parties, this Agreement shall be terminated. If any part of the modified version of this Agreement becomes invalid or unenforceable, the remaining parts shall be valid.

14. MISCELLANEOUS

14.1. Titles: The titles in this Agreement are for the purpose of convenience only and not intended to be part of the Agreement. the titles shall not be deemed modify, explain, interpret, or restrict any of its provisions.

14.2. Variation: This Agreement may be amended or varied by either of the Parties, and such variation must be agreed to and signed by the Parties to this Agreement. No delay or omission to exercise any right under this Agreement shall be construed as a waiver.

14.3. Notices: All notices under this Agreement may be given orally or in writing. The notices shall either be delivered personally or mailed by a certified mail to the other Party's address or that other Party's attorney.

14.4. Headings: Headings in this Agreement are used for convenience only and shall not be construed to limit or affect the terms of this Agreement.

14.5. Counterparts: This Agreement many be executed in counterparts, all of which constitutes one Agreement.

14.6. Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement made between them.

14.7. Assignment: No Party shall assign any of its obligation or duties under this Agreement, without the prior written consent of the other Party.

14.8. Enurement: This Agreement will enure the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns.

14.9. Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.

14.10. Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, omission to exercise any right shall not be construed as waiver.

14.11. Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.

14.12. Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement.

IN WITNESS WHEREOF the parties have duly executed this Agreement this day and year first written above.

SIGNED, SEALED, AND DELIVERED by the within named ________

________________________

in the presence of:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................

SIGNED, SEALED, AND DELIVERED by the within named ________

________________________

in the presence of:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................