The Non Exclusive Buyer Agency Agreement is commonly used in Singapore's real estate market when a buyer wishes to engage a property agent's services while maintaining the flexibility to work with other agents. This document, regulated by the Council for Estate Agencies (CEA), defines the scope of services, commission structure, and obligations of both parties. It provides legal protection while ensuring compliance with Singapore's Estate Agents Act and related regulations. The agreement is particularly useful for buyers who want to maximize their property search options without being bound to a single agent.
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1. Parties: Identification and details of the buyer and agent
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of agent appointment and services to be provided
5. Non-Exclusive Nature: Clear statement of non-exclusive relationship
6. Commission Structure: Payment terms and conditions
7. Duration: Term of agreement and renewal provisions
8. Obligations of Agent: Agent's duties and responsibilities
9. Obligations of Buyer: Buyer's duties and responsibilities
10. Termination: Conditions and process for ending the agreement
1. Overseas Property Provisions: Additional terms for international property purchases when buyer is interested in overseas properties
2. Multiple Property Search: Terms for searching multiple properties simultaneously when buyer wants to purchase multiple properties
3. Special Requirements: Specific buyer requirements or preferences when buyer has particular property requirements
1. Schedule 1: Commission Schedule: Detailed breakdown of commission structure and payment terms
2. Schedule 2: Property Requirements: Detailed specifications of desired property
3. Appendix A: CEA Prescribed Form: Mandatory form as required by Council for Estate Agencies
4. Appendix B: Agent's Credentials: Agent's license and certification details
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