Real Estate Consulting Agreement: Definition & Sample

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What is a Real Estate Consulting Agreement?

A real estate consulting agreement is a contract between two real estate parties where one party agrees to provide services and the other party agrees to pay. The payment amount will depend on the nature of the service and who requested it.

A consultant can be hired by an individual or business owner looking for advice in areas, including leasing property or selling goods overseas. If a party considers hiring someone as a real estate consultant, they must establish a well-written agreement before signing anything.

Common Sections in Real Estate Consulting Agreements

Below is a list of common sections included in Real Estate Consulting Agreements. These sections are linked to the below sample agreement for you to explore.

Real Estate Consulting Agreement Sample

This REAL ESTATE CONSULTING SERVICES AGREEMENT (the “Agreement”), is made this First day of March, 2007 (“Effective Date”) by and between The Whitetail Group, LLC having its principal office at 2740 Route 10, West, Morris Plains, NJ 07950 (“ Whitetail”) and the Bedminster Capital Corp . having its principal offices 90 Washington Valley Road, Bedminster, New Jersey (“Bedminster”),

WHEREAS Bedminster wishes to engage the services of Whitetail at terms and conditions set forth in this Agreement and Bedminster wishes to accept such an engagement,

NOW, THEREFORE, in consideration of the covenants, terms and conditions hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

During the term of this agreement, Whitetail shall provide support services (“Services”) to Bedminster as further set forth at Exhibit “A” to this agreement.

2.1 Whitetail acknowledges that Bedminster is relying upon the expertise, skill and judgment of Whitetail and Whitetail recognizes the relationship of trust and confidence established between it and Bedminster by this Agreement.

2.2 Whitetail represents that it has the expertise and is qualified, equipped, organized and financed to perform the Services required under this Agreement. Whitetail shall furnish its best skill and judgment and shall exercise maximum cooperation in furthering the best interests of Bedminster.

2.3 Whitetail will at its sole and exclusive discretion determine the method, details and means of performing the services.

2.4 Whitetail warrants that all work performed by Whitetail shall be performed in a good and workmanlike manner and fit for the purposes specified by Bedminster, and shall be of a quality that is commercially acceptable in this industry and comparable to, or better than, globally recognized providers of similar services.

2.5 Under no circumstances will Whitetail act as a real estate broker or agent, or as a broker dealer

Bedminster shall promptly provide Whitetail with such information, data and documents as reasonably required and requested by Whitetail in the performance of the Services contemplated by this Agreement. Bedminster will fully cooperate with Whitetail in its performance of Services and Bedminster understands and agrees that without timely and effective cooperation, Whitetail will not be able to perform.

4.1 Upon execution of this agreement, Bedminster shall pay Whitetail a one-time fee of two thousand ($2,000.00) dollars as initial file opening fee.

4.2 Consideration for services to be rendered by Whitetail to Bedminster is set forth at length at Exhibit “A”.

5.1 In the performance of its services, Whitetail may from time to time and on behalf of and with the consent of Bedminster or Bedminster’s subsidiaries, and at the sole expense of Bedminster or Bedminster’s subsidiaries, retain services of third party consultants and professionals. These services include but are not limited to engineers, environmental experts, brokers, attorneys, property managers, etc.

5.2 Whitetail shall select, and retain on behalf of Bedminster such consultants and professionals as Whitetail reasonably deems appropriate and necessary to promote the business activities of Bedminster. Bedminster reserves the right to reject for any lawful reason whatsoever, any such consultant or professional retained by Whitetail, and Whitetail shall as soon as possible thereafter retain a replacement consultant or professional satisfactory to Bedminster.

5.3 Whitetail shall notify Bedminster in writing of the consultants and professionals that Whitetail intends to retain on behalf of Bedminster, and obtain the consent of Bedminster thereto.

5.5 Bedminster shall promptly pay all invoices for services rendered by consultants and professionals which are not disputed in good faith by Bedminster.

At the direction of Bedminster, Whitetail may establish and maintain one or more bank accounts in the name of an operating subsidiary of Bedminster, and may collect and deposit into any such account or accounts, and disburse funds from any such account or accounts, under such terms and conditions as Bedminster may approve and in accordance with agreed budgets, and Whitetail shall from time to time render appropriate accountings of such collections and payments to Bedminster or any subsidiary of Bedminster and, upon request, to the auditors of Bedminster or any subsidiary of Bedminster.

7.1 This Agreement shall commence on the effective date hereof, and will continue to be in effect unless terminated by either party upon not less than ninety (90) days advance written notice.

7.2 Either party may terminate this Agreement for cause at any time in the event of a material breach by the other party that remains uncured after thirty (30) days written notice thereof.

7.3 Except for charges which are disputed in good faith by Bedminster, Bedminster shall pay Whitetail’s Charges for the Services as set forth in this agreement through the effective date of such termination for cause as well as expenses incurred to the date of termination. Whitetail shall have the right to terminate for cause in the event Bedminster fails to pay any monies when due in accordance with the agreement and such failure is not cured within twenty (20) days of notice thereof from Whitetail except for charges which are disputed in good faith by Bedminster.

From and after the effective date of termination of this Agreement, except as otherwise specified, Whitetail shall not be entitled to compensation for further services, but shall be paid all compensation accruing to the date of termination as provided above.. Upon such termination, Whitetail shall:

(a) After deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to Bedminster or any subsidiary of Bedminster all money collected and held for the account of Bedminster or any subsidiary of Bedminster pursuant to this Agreement;

(b) Deliver to the Board of Directors of Bedminster a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors.

(c) Within the applicable time period set forth herein, deliver to Bedminster both a monthly report and an annual report, each covering that portion of the relevant time period which is included within the term hereof, prior to such termination.

9.1 Within sixty (60) days prior to the commencement of each fiscal year, Whitetail shall prepare and deliver to Bedminster an operating budget for each property under management by Whitetail, setting forth an itemized statement of the estimated receipts and disbursements for the coming fiscal year. Such budget shall include a proposed rent schedule for all space within each property, inclusive of then currently pending or projected repairs, replacements and additions thereto, and the market for competing properties similar to the property. Bedminster and Whitetail shall jointly adjust, modify or amend said budget in order to fix the standard of operation for the succeeding fiscal year and the budget, as so revised and as it may be subsequently revised by agreement in writing executed by Bedminster and Whitetail, shall thereafter constitute the ''Budget.'' Except in the case of emergency repairs no expenses may be incurred or commitments made by Whitetail in connection with the operation of a Property which would exceed the line amount contained within said Budget, without the prior written consent of Bedminster. An emergency repair is one required for the preservation and safety of the property, to avoid the suspension of any service to the property, or to avoid danger or damage to life or property. It is understood and agreed that, should any such emergency repairs be required, Whitetail shall bring same to the attention of Bedminster as soon as possible.

9.2 Whitetail shall maintain, at the office of Whitetail, a comprehensive system of office records, books and accounts relating to the income, expenses and operations of each Property under management by Whitetail. Bedminster and those designated by Bedminster shall have access to such office records, books and accounts and to all vouchers, files and other material relating to each Property and maintained by Whitetail relating to each Property. Bedminster shall exercise its rights of inspection hereunder solely during normal business hours and shall do so in such a manner so as not to unreasonably interfere with the operations of Whitetail.