Real Estate Broker Commission Agreement Template for Singapore

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Key Requirements PROMPT example:

Real Estate Broker Commission Agreement

"I need a Real Estate Broker Commission Agreement for my luxury condominium in Singapore's Orchard Road area, with an exclusive agency period of 6 months starting January 2025 and a tiered commission structure that increases with the final sale price."

Document background

The Real Estate Broker Commission Agreement is essential for property transactions in Singapore's regulated real estate market. This document is used when a property owner engages a licensed real estate broker to sell or lease their property. It provides clear terms for commission structures, defines the scope of services, and ensures compliance with Singapore's Estate Agents Act 2010 and CEA regulations. The agreement protects both parties' interests by clearly outlining responsibilities, payment terms, and performance expectations while adhering to local legal requirements.

Suggested Sections

1. Parties: Identification of the broker and property owner/seller

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

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

5. Commission Structure: Detailed breakdown of commission rates and payment terms

6. Obligations of the Broker: Duties and responsibilities of the broker

7. Obligations of the Property Owner: Duties and responsibilities of the property owner

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

9. Governing Law: Applicable law and jurisdiction

Optional Sections

1. Exclusivity: Terms of exclusive agency rights - used when broker is granted exclusive rights to sell/lease the property

2. Marketing Budget: Details of marketing expenses and responsibilities - used when specific marketing arrangements are agreed

3. Sub-agents: Terms for engaging sub-agents - used when broker is permitted to engage other agents

4. Force Majeure: Provisions for unforeseen circumstances - used when additional protection against extraordinary events is needed

Suggested Schedules

1. Property Details Schedule: Detailed description of the property including address, size, features

2. Commission Rate Schedule: Detailed breakdown of commission rates for different transaction types

3. Marketing Plan: Detailed marketing strategy and activities

4. Required Documentation: List of documents required for property transactions

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
Commercial Property
Residential Property

Relevant Teams

Real Estate Sales
Legal
Compliance
Finance
Operations

Relevant Roles

Real Estate Agent
Property Manager
Sales Director
Compliance Officer
Legal Counsel

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

Let's create your Real Estate Broker Commission Agreement

Authors

Alex Denne

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