Land Sale Commission Agreement Template for Singapore

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Key Requirements PROMPT example:

Land Sale Commission Agreement

"I need a Land Sale Commission Agreement for my Singapore property at 123 Orchard Road, with an exclusive 6-month listing period starting January 2025 and a 2% commission rate for successful sale above $2.5 million."

Document background

The Land Sale Commission Agreement is essential for property transactions in Singapore, establishing the commercial relationship between property owners and real estate agents. This document is used when engaging a real estate professional to sell property, whether residential, commercial, or industrial. It must comply with Singapore's Estate Agents Act 2010 and CEA guidelines, covering commission structures, payment triggers, exclusive rights (if any), and service scope. The agreement protects both parties' interests while ensuring compliance with local property regulations and professional standards.

Suggested Sections

1. Parties: Identification and details of the agent/agency and property owner

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

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

5. Commission Structure: Details of commission rates, calculation methods, and payment terms

6. Duration: Term of the agreement and renewal provisions

7. Obligations: Responsibilities of both parties

8. Termination: Conditions and process for ending the agreement

Optional Sections

1. Exclusivity Provisions: Terms for exclusive agency rights when exclusive agency arrangements are agreed upon

2. Marketing Budget: Details of marketing expenses and responsibilities when marketing costs are shared or specified

3. Sub-Agency Provisions: Terms for involving other agents when sub-agents may be engaged

4. International Sales Provisions: Special terms for international buyers when targeting international market

Suggested Schedules

1. Property Details Schedule: Detailed description of the property and its specifications

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

3. Marketing Plan: Detailed marketing strategy and timeline

4. Required Documentation: List of necessary documents and certificates

5. Agency Terms and Conditions: Standard agency terms and conditions

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Property Development
Construction
Investment

Relevant Teams

Real Estate Sales
Legal
Property Management
Business Development
Finance

Relevant Roles

Real Estate Agent
Property Manager
Sales Director
Legal Counsel
Property Developer

How a Sales & Marketing Lead uses Genie AI to reduce contract drafting time by 95%

Let's create your Land Sale Commission Agreement

Authors

Alex Denne

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