The Registration Agreement Between Broker And Owner is a fundamental document in Singapore's real estate industry, required whenever a property owner engages a licensed broker to market or sell their property. This agreement is designed to comply with Singapore's Estate Agents Act 2010 and CEA guidelines, providing clear terms of engagement, protecting both parties' interests, and ensuring transparency in the broker-owner relationship. It typically includes details about the property, scope of services, commission structure, marketing plans, and duration of appointment. The agreement is particularly important as it establishes the legal framework for the broker's authority to act on behalf of the owner and sets out clear expectations for both parties.
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Key Requirements PROMPT example:
Registration Agreement Between Broker And Owner
"I need a Registration Agreement Between Broker And Owner for my luxury penthouse in Singapore, with an exclusive marketing period of 6 months starting March 2025, including international marketing rights and a tiered commission structure based on achieved sale price."
1. Parties: Identification of the broker and property owner with full legal names and addresses
2. Background: Context of the agreement and brief description of the property
3. Definitions: Key terms used throughout the agreement
4. Appointment and Authority: Scope of broker's appointment and extent of authority
5. Term of Agreement: Duration of the agreement including start and end dates
6. Broker's Obligations: Duties and responsibilities of the broker
7. Owner's Obligations: Duties and responsibilities of the property owner
8. Commission Structure: Details of fees, commission rates, and payment terms
9. Termination: Conditions and process for ending the agreement
10. Governing Law: Specification of Singapore law as governing law
1. Exclusivity Clause: Used when the owner grants exclusive rights to the broker for marketing and selling the property
2. Marketing Plan: Detailed marketing strategy for the property, typically used for luxury properties or when specific marketing commitments are needed
3. Property Management Services: Additional property management responsibilities when broker provides extended services beyond basic marketing and sales
4. International Marketing: Provisions for marketing property internationally, typically used for luxury properties or when targeting international buyers
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 commitments
4. Property Documents: List of property-related documents provided by owner
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