The Real Estate Broker Agreement serves as the foundational document for property transactions in Singapore's regulated real estate market. It is essential when engaging a licensed broker or agency for property sales, purchases, or leasing services. The agreement must comply with the Estate Agents Act 2010 and CEA guidelines, protecting both parties' interests while ensuring transparency in commission structures, service scope, and obligations. This document is particularly crucial given Singapore's strict real estate regulations and the need for clear documentation of professional relationships in property transactions.
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Key Requirements PROMPT example:
Real Estate Broker Agreement
"I need a Real Estate Broker Agreement for my luxury property agency in Singapore, covering both residential and commercial properties, with an exclusive appointment clause and detailed marketing commitments section, including social media promotion requirements."
1. Parties: Identification of the broker/agency and the client
2. Background: Context of the agreement and brief description of the services
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope of Services: Details of broker's appointment and specific services to be provided
5. Commission Structure: Payment terms, commission rates, and payment conditions
6. Duration and Termination: Term of agreement and termination provisions
7. Obligations of the Broker: Broker's duties, responsibilities, and service standards
8. Obligations of the Client: Client's responsibilities and commitments
9. Compliance with Laws: Commitment to comply with relevant laws and regulations
1. Exclusivity: Terms of exclusive appointment, used when broker is granted exclusive rights
2. Marketing Activities: Specific marketing commitments and strategies, included when specific marketing services are part of the agreement
3. International Properties: Additional terms for overseas properties, used when dealing with international real estate
4. Sub-Agents: Terms regarding use of sub-agents, included when sub-agents may be involved in the transaction
1. Schedule 1: Property Details: Specific details of property/properties covered by the agreement
2. Schedule 2: Commission Rates: Detailed breakdown of commission structure and payment terms
3. Schedule 3: Marketing Plan: Detailed marketing strategy and commitments, if applicable
4. Appendix A: Required Documents: List of documents required from client
5. Appendix B: CEA Prescribed Forms: Standard forms required by Council for Estate Agencies
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