The Master Listing Agreement is a foundational document in Singapore's real estate industry, designed to establish a formal relationship between property owners and real estate agencies. This agreement type is particularly relevant when dealing with multiple properties or long-term listing arrangements. It incorporates requirements from the Estate Agents Act 2010 and Council for Estate Agencies (CEA) guidelines, ensuring compliance with Singapore's regulatory framework. The Master Listing Agreement typically covers commission structures, marketing commitments, exclusivity terms, and service standards, providing a comprehensive framework for property listing services.
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Key Requirements PROMPT example:
Master Listing Agreement
"Need a Master Listing Agreement for our Singapore-based real estate agency to manage a portfolio of 15 luxury properties in the Central Region, with exclusive marketing rights and international marketing provisions, to commence from January 2025."
1. Parties: Identification of the agent/agency and property owner
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of appointment and services to be provided
5. Duration: Term of the agreement including start and end dates
6. Commission Structure: Detailed breakdown of fees and payment terms
7. Obligations of Parties: Responsibilities of both agent and property owner
8. Termination: Conditions for ending the agreement
1. Exclusivity Clause: Optional terms granting exclusive listing rights to the agent
2. Marketing Plans: Optional detailed marketing strategies and commitments for premium listings
3. International Marketing: Optional terms for overseas marketing efforts, typically for luxury properties
4. Sub-Agency Rights: Optional terms for engaging other agents in property marketing
1. Schedule 1: Property Details: Detailed description of the property(ies) covered under the agreement
2. Schedule 2: Commission Structure: Detailed breakdown of commission rates and calculations
3. Schedule 3: Marketing Plan: Detailed marketing strategy and timeline
4. Appendix A: Required Documentation: List of documents required from property owner
5. Appendix B: Service Level Agreement: Detailed service standards and performance metrics
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