The Exclusive Seller Brokerage Engagement Agreement is a critical document in Singapore's real estate industry, governed by the Estate Agents Act and CEA regulations. It is used when a property owner wishes to engage a single brokerage firm exclusively for the sale of their property. The agreement details the exclusive appointment period, commission terms, marketing commitments, and mutual obligations. It provides the brokerage firm with the security of exclusive rights while ensuring the seller receives dedicated service. This document is particularly important in Singapore's competitive real estate market, where clear terms of engagement and compliance with regulatory requirements are essential.
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Key Requirements PROMPT example:
Exclusive Seller Brokerage Engagement Agreement
"I need an Exclusive Seller Brokerage Engagement Agreement for a luxury condominium in Singapore's District 10, with specific provisions for international marketing and a minimum six-month exclusivity period starting from January 2025."
1. Parties: Identification of the property owner and the brokerage firm
2. Background: Context of the engagement and property details
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of exclusive appointment and scope of services
5. Duration: Term of the agreement and renewal provisions
6. Commission Structure: Details of fees, commission rates, and payment terms
7. Agent's Obligations: Duties and responsibilities of the broker
8. Seller's Obligations: Responsibilities and commitments of the property owner
9. Termination: Conditions and process for terminating the agreement
1. Marketing Plan: Detailed marketing strategy and activities for high-value properties requiring specific marketing commitments
2. International Marketing: Provisions for marketing to international buyers, suitable for luxury properties or those targeting foreign investors
3. Digital Marketing Rights: Specific provisions for online marketing and social media when digital marketing is a key component of the strategy
4. Sub-Agency: Terms for engaging other agents when collaboration with other agencies might be needed
1. Property Details Schedule: Detailed description of the property and its characteristics
2. Commission Schedule: Detailed breakdown of commission structure and payment terms
3. Marketing Schedule: Detailed marketing plan and commitments
4. Required Documents Checklist: List of documents required from the seller
5. Agency Disclosure Form: Standard CEA-required disclosure form
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