Sole Selling Agency Agreement Template for Hong Kong

The Sole Selling Agency Agreement is a crucial document in Hong Kong's real estate market, used when a property owner wants to grant exclusive selling rights to a single real estate agency. This type of agreement is particularly relevant in both residential and commercial property transactions where the owner seeks focused, dedicated marketing efforts from one agency. The document must comply with the Hong Kong Estate Agents Ordinance (Cap. 511) and its subsidiary legislation, which set out specific requirements for agency agreements. It typically includes detailed provisions about commission structures, marketing commitments, property details, and the exclusive period. The agreement protects both parties' interests by clearly defining the scope of authority, obligations, and termination conditions, while ensuring compliance with Hong Kong's property and agency laws.

1. Parties: Identification of the Principal (property owner) and the Agent, including full legal names and addresses

2. Background: Context of the agreement, including brief description of the property and the principal's intention to grant exclusive selling rights

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Exclusive Period', 'Asking Price', 'Commission Rate', etc.

4. Appointment and Scope: Express appointment of agent as sole selling agent and detailed scope of authority

5. Duration: Term of the exclusive appointment, including start and end dates

6. Agent's Rights: Specific rights granted to the agent, including exclusive right to market and sell the property

7. Agent's Obligations: Detailed responsibilities including marketing efforts, showing property, negotiating with prospects

8. Principal's Obligations: Property owner's commitments, including providing access to property and necessary information

9. Commission Structure: Detailed commission rates, payment terms, and circumstances under which commission becomes payable

10. Marketing and Advertising: Agreed marketing approach, advertising methods, and cost allocation

11. Compliance: Compliance with Estate Agents Ordinance and other relevant laws

12. Representations and Warranties: Standard warranties from both parties

13. Termination: Grounds for termination and consequences

14. Liability and Indemnity: Limitation of liability and indemnification provisions

15. General Provisions: Standard boilerplate clauses including notices, entire agreement, governing law