Agreement Between a Firm and a Broker for Agency (India) by OLL
Prefer the original wording?
AggrementBetween A Firm And A Broker For Agency
THIS AGREEMENT made on the…………………..day of……………..BETWEEN ………..,
etc., a firm carrying on the business of ……………………………………………..at……………………………………………
(hereinafter called the firm) of the one part and ……………….., etc. (hereinafter called the broker ) of the other part.
WHEREAS the firm wants to sell the property described in the Scheudle hereto and for the said purpose the services of the broker are required.
AND WHEREAS the said broker has shown his willingness to accept the agency for the sale of the said property described in the Schedule hereto.
AND WHEREAS the firm has accepted to pay to the broker the present rat of commission of … per cent. Of the sale price.
NOW THEREFORE THIS AGREEMENT WITNESSES as follows :
1. The firm hereby gives the broker for a period of ………… months thereof the right to sell the property described in the Schedule hereto at the price and on the terms and conditions hereinafter contained in this agreement.
2. 2. The broker is hereby authorised to sell the property on he price of Rs. …………….……..and out of this consideration the purchaser shall pay Rs………….………..in advance as earnest money and the balance of Rs………….……………..shall be paid within a month hereof before the Registrar at the time of registration of the sale-deed.
3. The broker shall be authorised to sell the property at the price of Rs…………..and on other terms and conditions that may be acceptable to the firm.
4. The firm hereby represents and warrants that the details of the property as described in the Schedule hereto are true and correct and the said property is free from all encumbrances.
5. The firm hereby undertakes to deliver to the purchaser, within a reasonable time, as abstract of title showing that the firm is the owner of the property and the said property is free from all encumbrances.
6. The firm hereby agrees that the sale-deed to be executed by the firm shall be a full covenant warranty deed free from all encumbrances.
IN WITNESS WHEREOF, etc.
SCHEDULE OF PROPERTY
This agreement establishes a relationship between a business entity and a broker for the sale of a specific property. It outlines the broker's authority to sell, the commission rates, and the required payment terms for potential buyers.
5.0 out of 5 on Google
Read reviewsAs seen in
About this template
What is this template?
This document is a property brokerage agency agreement. It contains specific provisions for the payment of earnest money before a Registrar and requires a full covenant warranty deed, which is not found in a general service contract.
When should you use it?
Use this when a firm needs to authorize an agent to sell real estate for a commission. Use an Exclusive Right to Sell Agreement if the broker is an individual and the property is residential.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Agency Period | Grants the broker an exclusive right to sell the property for a specified period of months at the agreed price. |
| 2 | Sale Price and Payment Terms | Specifies the total sale price in Rupees, including the required earnest money advance and the balance due at registration. |
| 4 | Encumbrances | The firm warrants that the property details in the Schedule are correct and that the property is free from all encumbrances. |
| 5 | Abstract of Title | Requires the firm to deliver a title abstract within a reasonable time proving ownership and absence of liens. |
| 6 | Warranty Deed | Obliges the firm to execute a full covenant warranty deed free from all encumbrances upon sale. |
Who it's for
- a business firm seeking to engage a real estate broker for a property sale in India
- a broker accepting a commission-based agency to sell specific commercial or residential property
How long it runs and how it's signed
Frequently asked questions
A template isn't binding on its own - like any contract, it becomes binding once it's properly completed and signed. Templates in our curated library are professionally drafted for US or UK law; review any template before you sign it.
Yes. Chat with GitLaw to edit any section, or make changes directly in the editor.
Yes, read about team plans here.
Describe what you need in the chat and GitLaw will draft it for you.
Templates in our curated library are professionally drafted for US or UK law. The wider library comes from the GitLaw community and public sources - a solid starting point, but check any template fits your situation before you rely on it.
Mostly US and UK law. Some templates use general commercial terms that work across jurisdictions, and many note which law they're written for.
It depends on the situation. Templates work well for routine business agreements. For anything involving significant money, complex IP, employment, or areas you're unsure about, it's worth getting professional advice before you sign. GitLaw provides templates and tools, not legal advice.
Open any template in GitLaw and describe the change you want in the chat — 'make clause 4 mutual' or 'add a 30-day notice period', for example. GitLaw drafts the revised language and shows it as a suggested edit. You accept, reject, or keep editing from there.
Yes. Upload a Word, PDF, or Markdown file and GitLaw will open it in the editor. You can review, edit, or chat with GitLaw about it the same way you would with any template from the library.
Trusted by 5,000+ businesses
From template to signed, in one place
Every template opens in an editor with an AI agent alongside it.
Open
Pick a template and open it. Nothing to download, and no credit card to start.
Free to open
Edit with AI
Describe your situation in chat and the agent adapts the wording, clause by clause.
Tracked changes you can review
Send and sign
Share it for negotiation, then collect signatures without leaving GitLaw.
eSign included
Built for your legal work,
with practicing lawyers
Trained on 5,500+ clauses and specialist areas of law. Built with a standards committee of independent lawyers.
As seen in
Ready to get started?
No sales calls, no credit card. Just chat with GitLaw.
GitLaw provides templates and tools, not legal advice. Templates are a starting point, not a substitute for advice on your situation - for anything significant, speak to a qualified lawyer.