The Buyer's Representative Agreement is a crucial document in Singapore's real estate industry that formalizes the relationship between property buyers and their chosen agents. This agreement is particularly important as it defines the agent's authority to act on behalf of the buyer, outlines the scope of services to be provided, and establishes the commission structure. It provides legal protection for both parties and ensures compliance with Singapore's strict real estate regulations, including the Estate Agents Act and CEA guidelines. The agreement is essential for maintaining transparency and professional standards in property transactions.
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1. Parties: Identification of the buyer and the agent/agency
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope of Services: Details of agent's appointment and services to be provided
5. Duration of Agreement: Term of the agreement including start and end dates
6. Agent's Obligations: Detailed responsibilities and duties of the agent
7. Client's Obligations: Responsibilities and commitments of the buyer
8. Commission Structure: Details of fees, commission rates, and payment terms
9. Termination: Conditions and procedures for ending the agreement
1. Exclusivity Clause: Terms of exclusive representation when the buyer agrees to work solely with this agent
2. Property Requirements: Specific criteria for property search including location, size, budget and other preferences
3. International Transactions: Additional terms and conditions for handling overseas property transactions
4. Digital Services: Terms related to online services, virtual viewings and digital communication protocols
1. Schedule of Fees: Detailed breakdown of all fees, charges and commission structures
2. Property Requirements Checklist: Comprehensive list of buyer's property criteria and preferences
3. Agent's Credentials: Documentation of agent's licenses, certifications, and professional qualifications
4. Service Level Agreement: Detailed service standards, response times and performance metrics
Relevant legal definitions
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