Exclusive Seller Brokerage Agreement Template for Singapore

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Key Requirements PROMPT example:

Exclusive Seller Brokerage Agreement

"Need an Exclusive Seller Brokerage Agreement for my luxury condominium in Singapore's Orchard Road area, with specific provisions for international marketing and a minimum selling price of SGD 5.8 million, to be effective from March 2025 for a 6-month period."

Document background
The Exclusive Seller Brokerage Agreement is a crucial document in Singapore's real estate market, providing a framework for professional property marketing and sales. This agreement, regulated by the Estate Agents Act and CEA guidelines, is used when a property owner wishes to engage a single agency exclusively for selling their property. It details the scope of services, commission structures, marketing commitments, and obligations of both parties. The document is particularly important in Singapore's highly regulated real estate market, where clear documentation of agency relationships is required for legal compliance and professional practice.
Suggested Sections

1. Parties: Identification of the property owner and the real estate agency

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Terms of exclusive appointment and services to be provided

5. Duration: Period of exclusivity and agreement term

6. Commission Structure: Fee arrangements and payment terms

7. Obligations of the Agent: Agent's duties and responsibilities

8. Obligations of the Seller: Seller's commitments and responsibilities

9. Termination: Conditions for ending the agreement

Optional Sections

1. Marketing Plan: Detailed marketing strategy and activities for high-value properties or when specific marketing commitments are required

2. Performance Guarantees: Specific performance metrics and related provisions when seller requires specific performance standards

3. International Marketing: Provisions for overseas marketing efforts for luxury properties or when targeting international buyers

Suggested Schedules

1. Property Details Schedule: Detailed description of the property including title details

2. Commission Schedule: Detailed breakdown of commission structure and payment terms

3. Marketing Schedule: Detailed marketing plan and timeline

4. Property Condition Report: Current condition of the property

5. Required Disclosures: Mandatory disclosures under Singapore law

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 (Chapter 95A): Primary legislation regulating the real estate agency industry in Singapore, setting requirements for estate agents and salespersons, and defining their duties and obligations

Estate Agents (Estate Agency Work) Regulations 2010: Detailed regulations providing specific rules for conducting estate agency work, including prescribed forms, procedures, and practice standards

Council for Estate Agencies (CEA) Guidelines: Comprehensive guidelines including Professional Service Manual, Practice Guidelines, and Code of Ethics and Professional Client Care for real estate professionals

Contract Law (Chapter 53): Fundamental legislation governing contract formation, terms and conditions, and rights and obligations of parties in Singapore

Residential Property Act (Chapter 274): Legislation governing restrictions on foreign ownership and requirements for residential property transactions in Singapore

Personal Data Protection Act 2012: Law governing the collection, use, and disclosure of personal data, including consent obligations and data protection provisions

Consumer Protection (Fair Trading) Act: Legislation protecting consumers against unfair practices, establishing consumer rights, and providing framework for dispute resolution

Competition Act (Chapter 50B): Law governing anti-competitive practices and ensuring fair market conduct in Singapore's business environment

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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