The Estate Agency Agreement is a fundamental document in Singapore's real estate industry, required for establishing formal engagement between licensed estate agents and their clients. This agreement, regulated under Singapore's Estate Agents Act 2010 and overseen by the CEA, is essential for both residential and commercial property transactions. It details the agent's scope of services, commission rates, duration of appointment, and mutual obligations, while ensuring compliance with Singapore's strict real estate regulations and professional standards. The agreement protects both parties' interests and provides clear guidelines for the property transaction process.
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1. Parties: Identification of the estate agent/agency and the client
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of appointment and detailed scope of services
5. Duration: Period of agreement and renewal terms
6. Commission: Fee structure and payment terms
7. Obligations of Agent: Agent's duties and responsibilities
8. Obligations of Client: Client's duties and responsibilities
9. Termination: Conditions for termination of agreement
1. Co-broking: Terms for working with other agents when collaboration with other agencies is required
2. Marketing Authorization: Specific permissions for marketing activities when specific marketing activities are planned
3. Overseas Property Provisions: Additional terms for overseas properties when dealing with foreign properties
1. Schedule 1: Property Details: Detailed description of the property
2. Schedule 2: Commission Structure: Detailed breakdown of fees and payment terms
3. Appendix A: Marketing Plan: Detailed marketing strategy and activities
4. Appendix B: Required Documents: List of documents required from client
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