The Co-Broker Agreement serves as a fundamental document in Singapore's real estate industry, establishing formal partnerships between licensed real estate professionals. This agreement becomes necessary when two brokers wish to collaborate on property transactions, share resources, or extend their market reach. It addresses key aspects such as commission splitting, client handling, confidentiality, and compliance with Singapore's Estate Agents Act and CEA guidelines. The document provides clarity on roles, responsibilities, and risk allocation, while ensuring adherence to local regulatory requirements.
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Key Requirements PROMPT example:
Co Broker Agreement
"Need a Co-Broker Agreement for a partnership between my Singapore real estate agency and an international broker, focusing on luxury residential properties with a minimum 60-40 commission split and exclusivity rights for properties above SGD 5 million."
1. Parties: Identification and details of the cooperating brokers
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement including relevant regulatory references to Estate Agents Act and CEA Guidelines
4. Scope of Cooperation: Details of how the brokers will work together, including duties and responsibilities
5. Commission Structure: Agreement on fee sharing and payment terms in compliance with Estate Agents Regulations
6. Confidentiality: Protection of sensitive information and compliance with PDPA requirements
7. Term and Termination: Duration of agreement and circumstances for termination
8. Governing Law: Specification of Singapore law as governing law and jurisdiction
1. Marketing Arrangements: Details of joint marketing activities, cost sharing, and branding requirements
2. Exclusivity Provisions: Terms of exclusive cooperation and any territorial restrictions
3. Insurance Requirements: Additional insurance obligations beyond statutory requirements
4. Data Protection Obligations: Detailed PDPA compliance measures and data handling protocols
1. Commission Schedule: Detailed breakdown of commission sharing arrangements and payment terms
2. Property Schedule: List of properties covered under the agreement if applicable
3. Service Level Agreement: Operational procedures, response times, and quality standards
4. Contact Details Schedule: Key personnel, escalation matrix, and communication protocols
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