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Sole Agency Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Sole Agency Agreement

"I need a Sole Agency Agreement for a luxury residential property in Hong Kong's Peak district, with specific provisions for international marketing and a success fee structure if the property sells above HKD 100 million by March 2025."

Document background
The Sole Agency Agreement is a crucial document in Hong Kong's real estate industry, used when a property owner wishes to grant exclusive rights to a single estate agent for the marketing and sale/lease of their property. This document is particularly important in the Hong Kong market where property transactions are highly regulated and require strict compliance with the Estate Agents Ordinance. The agreement typically includes detailed provisions about the scope of authority, commission structures, marketing commitments, and duration of exclusivity. It offers protection to both the agent, by securing their exclusive right to market the property, and the owner, by clearly defining the agent's obligations and performance standards. The document must comply with Hong Kong's specific regulatory requirements, including prescribed forms and mandatory content as specified by the Estate Agents Authority.
Suggested Sections

1. Parties: Identification of the estate agent and the client (property owner), including full legal names, license numbers, and contact details

2. Background: Brief context of the agreement, including property details and the intent to create a sole agency relationship

3. Definitions: Key terms used in the agreement, including 'Property', 'Sole Agency Period', 'Commission', and other relevant terms

4. Appointment and Duration: Formal appointment of the agent as sole agent and specification of the sole agency period

5. Agent's Rights: Exclusive rights granted to the agent during the sole agency period

6. Agent's Obligations: Detailed listing of the agent's duties, including marketing efforts, showing the property, and reporting requirements

7. Client's Obligations: Client's responsibilities, including providing accurate information and cooperation

8. Commission Structure: Details of commission rates, payment terms, and conditions for commission becoming payable

9. Termination: Circumstances and procedures for ending the agreement

10. Governing Law and Jurisdiction: Specification of Hong Kong law governance and jurisdiction for disputes

11. Entire Agreement: Standard clause confirming the agreement represents the complete understanding between parties

Optional Sections

1. Multiple Properties: Additional terms for cases where the sole agency covers multiple properties

2. International Marketing: Specific provisions for marketing the property to international buyers

3. Co-agency Arrangements: Terms for allowing cooperation with other agents while maintaining sole agency status

4. Special Property Features: Additional terms related to unique property features requiring special marketing or handling

5. Property Management: Terms for additional property management services during the agency period

6. Success Bonus: Additional compensation terms for achieving specified sale prices or timeframes

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive description of the property, including address, specifications, and unique features

2. Schedule 2 - Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms

3. Schedule 3 - Marketing Plan: Detailed marketing strategy and activities to be undertaken by the agent

4. Schedule 4 - Property Documents: List of property-related documents provided by the client

5. Appendix A - Estate Agent's License: Copy of the estate agent's license and company details

6. Appendix B - Prescribed Property Information Form: Standard form required under Hong Kong estate agency regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Residential Property

Commercial Property

Luxury Real Estate

Property Development

Property Investment

Retail Property

Industrial Property

Relevant Teams

Legal

Compliance

Real Estate

Sales

Business Development

Contract Management

Property Management

Agency Relations

Risk Management

Relevant Roles

Estate Agent

Real Estate Broker

Property Consultant

Legal Counsel

Compliance Officer

Property Manager

Sales Director

Business Development Manager

Contract Manager

Real Estate Partner

Property Sales Manager

Agency Relations Manager

Industries






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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