The Land Sale Commission Agreement is essential for property transactions in Singapore, establishing the commercial relationship between property owners and real estate agents. This document is used when engaging a real estate professional to sell property, whether residential, commercial, or industrial. It must comply with Singapore's Estate Agents Act 2010 and CEA guidelines, covering commission structures, payment triggers, exclusive rights (if any), and service scope. The agreement protects both parties' interests while ensuring compliance with local property regulations and professional standards.
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1. Parties: Identification and details of the agent/agency and property owner
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of agent appointment and services to be provided
5. Commission Structure: Details of commission rates, calculation methods, and payment terms
6. Duration: Term of the agreement and renewal provisions
7. Obligations: Responsibilities of both parties
8. Termination: Conditions and process for ending the agreement
1. Exclusivity Provisions: Terms for exclusive agency rights when exclusive agency arrangements are agreed upon
2. Marketing Budget: Details of marketing expenses and responsibilities when marketing costs are shared or specified
3. Sub-Agency Provisions: Terms for involving other agents when sub-agents may be engaged
4. International Sales Provisions: Special terms for international buyers when targeting international market
1. Property Details Schedule: Detailed description of the property and its specifications
2. Commission Rate Schedule: Detailed breakdown of commission rates and calculations
3. Marketing Plan: Detailed marketing strategy and timeline
4. Required Documentation: List of necessary documents and certificates
5. Agency Terms and Conditions: Standard agency terms and conditions
Relevant legal definitions
Clauses
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