Buyer Agent Commission Agreement Template for Singapore

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Key Requirements PROMPT example:

Buyer Agent Commission Agreement

"I need a Buyer Agent Commission Agreement for a Singapore-based client looking to purchase multiple residential properties, with an exclusive arrangement period of 6 months starting March 2025, and including specific provisions for international property purchases in Malaysia."

Document background
The Buyer Agent Commission Agreement is a crucial document in Singapore's real estate industry, designed to formalize the relationship between property buyers and their appointed agents. This agreement is particularly important under Singapore's regulatory framework, which requires clear documentation of agency relationships and commission structures. It outlines the agent's duties, commission rates, and service scope while ensuring compliance with the Estate Agents Act 2010 and CEA guidelines. The agreement is essential for protecting both parties' interests and establishing clear expectations in property transactions.
Suggested Sections

1. Parties: Identification of the buyer's agent and the client

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope of Services: Details of agent's appointment and services to be provided

5. Commission Structure: Details of fees, payment terms, and conditions for commission

6. Agent's Obligations: Duties and responsibilities of the agent

7. Client's Obligations: Duties and responsibilities of the client

8. Term and Termination: Duration of agreement and termination provisions

9. Confidentiality: Obligations regarding confidential information

Optional Sections

1. Exclusivity: Terms of exclusive appointment, used when agent has sole rights

2. International Properties: Additional terms for overseas property transactions

3. Multiple Properties: Terms for handling multiple property searches

4. Special Requirements: Any specific client requirements or conditions

Suggested Schedules

1. Schedule of Services: Detailed breakdown of services to be provided

2. Commission Schedule: Detailed breakdown of commission rates and calculations

3. Property Requirements: Client's specific property requirements and preferences

4. Agency Disclosure Form: Standard CEA disclosure form

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

Relevant legal definitions
Industries

Estate Agents Act 2010: Primary legislation governing real estate agencies and agents in Singapore that defines roles, responsibilities, and conduct of property agents, including requirements for licensing and registration

Estate Agents (Estate Agency Work) Regulations 2010: Detailed regulations covering commission structures, requirements for written agreements, and disclosure obligations for real estate transactions

Council for Estate Agencies (CEA) Guidelines: Professional guidelines including Code of Ethics, Professional Client Care standards, and commission guidelines established by Singapore's regulatory body for real estate agencies

Consumer Protection (Fair Trading) Act: Legislation protecting consumers against unfair practices, affecting how services must be described and delivered, and impacting contract terms and conditions

Contract Law (Chapter 53): Fundamental law governing contract formation principles, requirements for valid contracts, and rights and obligations of contracting parties in Singapore

Personal Data Protection Act 2012: Law establishing requirements for handling personal information, including consent requirements and data protection obligations

AML/CFT Requirements: Anti-Money Laundering and Countering the Financing of Terrorism requirements covering due diligence, transaction reporting obligations, and record keeping requirements

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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