The Broker Seller Agreement is essential for formalizing the relationship between property owners and real estate brokers in Singapore. It outlines the broker's authority to market and sell property, commission structures, and mutual obligations, while ensuring compliance with Singapore's Estate Agents Act 2010 and CEA regulations. This agreement is particularly important in Singapore's highly regulated real estate market, where clear documentation of responsibilities and commission arrangements is required for legal protection of both parties.
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Key Requirements PROMPT example:
Broker Seller Agreement
"Need a Broker Seller Agreement for a portfolio of five commercial properties in Singapore's CBD area, with exclusive rights and a tiered commission structure based on property values ranging from $5M to $20M, to be effective from March 2025."
1. Parties: Identification and details of the broker and seller
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of broker appointment and services to be provided
5. Commission Structure: Details of fees, commission rates, and payment terms
6. Obligations of Broker: Duties and responsibilities of the broker
7. Obligations of Seller: Duties and responsibilities of the seller
8. Term and Termination: Duration of agreement and termination provisions
9. Governing Law: Specification of Singapore law as governing law
1. Exclusivity: Terms of exclusive arrangement when broker is granted exclusive rights
2. Marketing Requirements: Specific marketing obligations and standards when detailed marketing requirements are needed
3. Insurance: Insurance requirements and coverage specifications when specific insurance requirements are needed
4. Force Majeure: Provisions for unforeseen circumstances and extraordinary events
1. Commission Rate Schedule: Detailed breakdown of commission rates and calculation methods
2. Property Details: Specific information about properties covered by the agreement
3. Marketing Plan: Detailed marketing strategy and activities
4. Service Level Agreement: Specific performance metrics and service standards
Authors
Relevant legal definitions
Agreement
Broker
Seller
Property
Commission
Listing Period
Exclusive Rights
Marketing Materials
Closing Date
Purchase Price
Effective Date
Confidential Information
Intellectual Property Rights
Marketing Plan
Professional Services
Transaction Documents
Working Day
CEA
Listing Price
Net Sale Price
Purchaser
Sale and Purchase Agreement
Option to Purchase
Term
Territory
Force Majeure Event
Applicable Laws
Personal Data
Representatives
Service Standards
Broker
Seller
Property
Commission
Listing Period
Exclusive Rights
Marketing Materials
Closing Date
Purchase Price
Effective Date
Confidential Information
Intellectual Property Rights
Marketing Plan
Professional Services
Transaction Documents
Working Day
CEA
Listing Price
Net Sale Price
Purchaser
Sale and Purchase Agreement
Option to Purchase
Term
Territory
Force Majeure Event
Applicable Laws
Personal Data
Representatives
Service Standards
Clauses
Appointment
Scope of Services
Commission and Payment
Exclusive Rights
Marketing
Obligations and Duties
Representations and Warranties
Term and Duration
Termination
Confidentiality
Data Protection
Intellectual Property
Professional Standards
Compliance
Insurance
Liability and Indemnity
Force Majeure
Assignment
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Variation
Waiver
Third Party Rights
Costs
Good Faith
Anti-Money Laundering
Record Keeping
Scope of Services
Commission and Payment
Exclusive Rights
Marketing
Obligations and Duties
Representations and Warranties
Term and Duration
Termination
Confidentiality
Data Protection
Intellectual Property
Professional Standards
Compliance
Insurance
Liability and Indemnity
Force Majeure
Assignment
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Variation
Waiver
Third Party Rights
Costs
Good Faith
Anti-Money Laundering
Record Keeping
Relevant Industries
Relevant Teams
Relevant Roles
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