The Leasing Agent Contract is essential for formalizing the relationship between real estate agencies and their leasing agents in Singapore. This document is typically used when engaging new agents or renewing existing arrangements, ensuring compliance with Singapore's Estate Agents Act 2010 and Council for Estate Agencies (CEA) regulations. The contract covers crucial aspects including commission structures, professional obligations, compliance requirements, and performance standards. It provides legal protection for both parties while ensuring adherence to Singapore's strict real estate agency regulations and professional standards.
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Key Requirements PROMPT example:
Leasing Agent Contract
"I need a Leasing Agent Contract for our Singapore real estate agency to engage a new senior agent who will focus exclusively on high-end residential properties in the central region, with a graduated commission structure starting at 5% and increasing based on performance targets."
1. Parties: Identification of the Principal (company/agency) and the Agent, including registration details
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of appointment and detailed scope of services
5. Agent's Obligations: Core duties, responsibilities, and professional standards
6. Commission Structure: Payment terms, commission rates, and calculation methods
7. Compliance Requirements: Regulatory compliance obligations and professional standards
8. Term and Termination: Duration of agreement and termination provisions
9. Confidentiality: Protection of confidential information and trade secrets
1. Training Requirements: Professional development obligations - use when specific training requirements need to be included for new agents
2. Marketing Standards: Guidelines for advertising and promotion - include when agent has marketing responsibilities
3. Performance Targets: Specific KPIs and metrics - include when performance-based incentives are part of the agreement
4. Non-Compete Clause: Restrictions on competitive activities - include for senior agents or specialized markets
1. Commission Schedule: Detailed breakdown of commission structures and calculations
2. Territory Schedule: Defined geographical areas or property types covered
3. Professional Standards Guidelines: Detailed professional conduct requirements
4. Required Forms and Ƶ: Standard documentation to be used by the agent
5. Insurance Requirements: Details of required professional indemnity insurance
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