The Buyer Agent Exclusive Agreement is a crucial document in Singapore's real estate industry, designed to formalize the professional relationship between property buyers and their chosen agents. This agreement, regulated under Singapore's Estate Agents Act 2010, provides exclusive rights to the agent to represent the buyer in property transactions. It typically includes detailed terms about the agent's services, commission structure, duration of exclusivity, and specific property requirements. The agreement is particularly important in Singapore's competitive property market, where having dedicated representation can be vital for successful property acquisition. It protects both the agent's interests by ensuring commission for their services and the buyer's interests by securing professional representation throughout the property search and purchase process.
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1. Parties: Identification of the buyer and the agent, including registration details
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Authority: Scope of agent's appointment and authorized activities
5. Duration: Term of the exclusive agreement
6. Agent's Obligations: Detailed responsibilities and duties of the agent
7. Client's Obligations: Responsibilities and commitments of the buyer
8. Commission Structure: Payment terms and commission calculations
9. Termination: Conditions for ending the agreement
1. Property Requirements: Specific criteria for property search when buyer has specific property requirements
2. Overseas Property Provisions: Additional terms for international property searches when including overseas properties in search scope
3. Multiple Property Provisions: Terms for handling multiple property purchases when client intends to purchase multiple properties
1. Schedule 1: Commission Structure: Detailed breakdown of commission rates and payment terms
2. Schedule 2: Property Requirements: Detailed specifications of desired property
3. Appendix A: Agent's Credentials: Agent's licenses and certifications
4. Appendix B: CEA Prescribed Forms: Standard forms required by Council for Estate Agencies
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