The Seller Agency Agreement is a crucial document in Singapore's real estate industry, used when a property owner wishes to engage a licensed real estate agency to sell their property. This agreement, regulated under Singapore law and the Estate Agents Act 2010, outlines the relationship between the seller and agent, detailing commission rates, service scope, marketing strategies, and mutual obligations. It provides legal protection for both parties and ensures compliance with Singapore's strict real estate regulations. The agreement is particularly important as it establishes clear expectations and responsibilities while adhering to the professional standards set by the Council for Estate Agencies.
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1. Parties: Identification of the seller and the agent, including full legal names and addresses
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Appointment and Authority: Scope of agent's appointment and authorized activities
5. Agent's Obligations: Detailed responsibilities and duties of the agent
6. Seller's Obligations: Responsibilities and commitments of the seller
7. Commission Structure: Details of fees, commission rates, and payment terms
8. Term and Termination: Duration of agreement and termination provisions
9. Governing Law: Specification of Singapore law as governing law
1. Exclusivity Provisions: Used when granting exclusive rights to the agent for high-value properties or when requested by established agencies
2. Marketing Budget: Details of marketing expenses and responsibilities when specific marketing commitments are agreed
3. Sub-Agency Provisions: Rules for engaging other agents when sub-agents might be involved
4. Post-Termination Obligations: Ongoing obligations after agreement ends for complex transactions or high-value properties
1. Property Details Schedule: Detailed description of the property, including title details and encumbrances
2. Commission Schedule: Detailed breakdown of commission structure and payment terms
3. Marketing Plan: Detailed marketing strategy and activities (if applicable)
4. Required Documents Checklist: List of documents required from seller for the transaction
5. CEA Prescribed Forms: Standard forms required by the Council for Estate Agencies
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