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Real Estate Agent Contract Template for Malaysia

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Key Requirements PROMPT example:

Real Estate Agent Contract

"I need a Real Estate Agent Contract for my luxury condominium development in Kuala Lumpur, with exclusive agency rights and international marketing provisions, to be effective from March 2025."

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Document background
The Real Estate Agent Contract serves as the foundational document for establishing a professional agency relationship in Malaysian property transactions. It is essential when a property owner wishes to engage a licensed real estate agent or agency to market, sell, or lease their property. The contract ensures compliance with Malaysian real estate regulations, particularly the Valuers, Appraisers, Estate Agents and Property Managers Act 1981, while clearly defining the scope of authority, commission structures, and obligations of both parties. This document is crucial for protecting all parties' interests and ensuring transparency in the agency relationship, whether for residential, commercial, or industrial properties.
Suggested Sections

1. Parties: Identification of the property owner/seller/landlord and the real estate agency/agent, including registration numbers and contact details

2. Background: Context of the agreement and brief description of the property and intended transaction

3. Definitions: Key terms used throughout the agreement including 'Property', 'Commission', 'Exclusive Agency', etc.

4. Appointment and Authority: Formal appointment of the agent and scope of authority granted

5. Duration of Agreement: Term of the agency agreement, including start and end dates

6. Agent's Services and Obligations: Detailed listing of services to be provided by the agent and their professional obligations

7. Client's Obligations: Responsibilities and obligations of the property owner/seller/landlord

8. Commission and Fees: Structure and timing of commission payments and any additional fees

9. Marketing and Advertising: Agreement on marketing strategies and associated costs

10. Termination: Conditions and process for terminating the agreement

11. Governing Law: Specification of Malaysian law as the governing law

12. Execution: Signature blocks and execution details

Optional Sections

1. Exclusivity Clause: Used when the agreement is an exclusive agency arrangement, detailing the terms of exclusivity

2. Property Management Services: Include when the agent will also provide property management services

3. International Marketing: Additional terms for marketing the property internationally

4. Multiple Properties: Used when the agreement covers multiple properties

5. Special Conditions: Any unique requirements or conditions specific to the property or circumstance

6. Dispute Resolution: Detailed dispute resolution procedures beyond standard legal remedies

7. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property, including legal description, title details, and features

2. Schedule 2 - Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms

3. Schedule 3 - Marketing Plan: Detailed marketing strategy and budget allocation

4. Schedule 4 - Service Level Agreement: Specific performance metrics and service standards

5. Appendix A - Required Documents: List of documents required from the client

6. Appendix B - Agency Registration Documents: Copies of agent's licenses and registrations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Residential Real Estate

Commercial Real Estate

Industrial Real Estate

Retail Real Estate

Hospitality Real Estate

Mixed-Use Development

Luxury Property

Agricultural Real Estate

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Property Management

Contract Administration

Asset Management

Relevant Roles

Real Estate Agent

Property Manager

Business Development Manager

Sales Director

Property Consultant

Legal Counsel

Compliance Officer

Contract Manager

Real Estate Broker

Property Developer

Asset Manager

Real Estate Transaction Coordinator

Industries
Valuers, Appraisers, Estate Agents and Property Managers Act 1981 (Act 242): The primary legislation governing real estate agents in Malaysia. It establishes requirements for registration, professional conduct, and duties of real estate agents.
Rules of the Board of Valuers, Appraisers, Estate Agents and Property Managers: Supplementary rules that detail specific requirements for practice, including professional standards, fee structures, and ethical guidelines for real estate agents.
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including agency agreements and the basic principles of contract law that apply to real estate agency relationships.
Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001: Requires real estate agents to conduct due diligence on clients and report suspicious transactions in property dealings.
Personal Data Protection Act 2010: Regulates the collection, use, and handling of personal data in commercial transactions, including real estate dealings.
Housing Development (Control and Licensing) Act 1966: Relevant when dealing with residential properties and new developments, setting out requirements for property transactions and marketing.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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