The Agency Agreement For The Sale Of Residential Property is a crucial document in Singapore's real estate market, used when property owners engage licensed agents to sell their residential properties. This agreement is essential for defining the scope of services, commission structures, and mutual obligations while ensuring compliance with Singapore's Estate Agents Act 2010 and CEA regulations. It provides legal protection for both parties and clearly outlines the terms of engagement, marketing strategies, and conditions for successful property sales. The document is particularly important given Singapore's highly regulated property market and strict requirements for real estate transactions.
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1. Parties: Identification of the agent and the property owner/seller
2. Background: Context of the agreement and basic property details
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of agent appointment and services to be provided
5. Duration: Term of the agreement including start and end dates
6. Commission Structure: Details of fees, commission rates, and payment terms
7. Agent's Obligations: Duties and responsibilities of the agent
8. Client's Obligations: Duties and responsibilities of the property owner
9. Termination: Conditions and procedures for ending the agreement
1. Exclusivity Clause: Terms of exclusive agency rights (used when exclusive agency rights are granted)
2. Marketing Plan: Specific marketing strategies and commitments (used when detailed marketing arrangements are agreed)
3. Sub-Agents: Terms for appointment of sub-agents (used when sub-agents may be involved)
4. International Marketing: Specific terms for international marketing (used when property will be marketed overseas)
1. Property Details Schedule: Detailed description of the property including address, size, features
2. Commission Schedule: Detailed breakdown of commission structure and payment terms
3. Marketing Schedule: Detailed marketing plan and activities
4. Required Documents Checklist: List of documents required for the sale
5. Property Photographs: Official photographs of the property
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