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Buyers Rep Agreement Generator for Singapore

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Key Requirements PROMPT example:

Buyers Rep Agreement

"I need a Buyers Rep Agreement for a high-net-worth client looking to purchase multiple commercial properties in Singapore, with an exclusivity period of 12 months starting January 2025 and including specific clauses about international transactions."

Document background
The Buyer's Representative Agreement is a crucial document in Singapore's real estate industry that formalizes the relationship between property buyers and their chosen agents. This agreement is particularly important as it defines the agent's authority to act on behalf of the buyer, outlines the scope of services to be provided, and establishes the commission structure. It provides legal protection for both parties and ensures compliance with Singapore's strict real estate regulations, including the Estate Agents Act and CEA guidelines. The agreement is essential for maintaining transparency and professional standards in property transactions.
Suggested Sections

1. Parties: Identification of the buyer and the agent/agency

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope of Services: Details of agent's appointment and services to be provided

5. Duration of Agreement: Term of the agreement including start and end dates

6. Agent's Obligations: Detailed responsibilities and duties of the agent

7. Client's Obligations: Responsibilities and commitments of the buyer

8. Commission Structure: Details of fees, commission rates, and payment terms

9. Termination: Conditions and procedures for ending the agreement

Optional Sections

1. Exclusivity Clause: Terms of exclusive representation when the buyer agrees to work solely with this agent

2. Property Requirements: Specific criteria for property search including location, size, budget and other preferences

3. International Transactions: Additional terms and conditions for handling overseas property transactions

4. Digital Services: Terms related to online services, virtual viewings and digital communication protocols

Suggested Schedules

1. Schedule of Fees: Detailed breakdown of all fees, charges and commission structures

2. Property Requirements Checklist: Comprehensive list of buyer's property criteria and preferences

3. Agent's Credentials: Documentation of agent's licenses, certifications, and professional qualifications

4. Service Level Agreement: Detailed service standards, response times and performance metrics

Authors

Alex Denne

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

Relevant legal definitions






























Clauses






























Industries

Estate Agents Act (Cap. 95A): Primary legislation governing real estate agencies and agents in Singapore. Establishes the regulatory framework for property agents, defines their duties and responsibilities, and sets requirements for representation agreements.

Estate Agents (Estate Agency Work) Regulations: Detailed regulations specifying how estate agents should conduct their work, including requirements for documentation, disclosure obligations, and commission guidelines.

Council for Estate Agencies (CEA) Guidelines: Professional guidelines including service manual, practice guidelines, and code of ethics and conduct for real estate agents in Singapore.

Contract Law (Cap. 32): General contract law principles governing formation and enforcement of contracts, including rights and obligations of parties in contractual agreements.

Personal Data Protection Act 2012 (PDPA): Legislation governing the collection, use, and disclosure of personal data, including consent obligations and data protection requirements.

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

Competition Act (Cap. 50B): Legislation governing anti-competitive practices, commission structures, and market conduct in business operations.

Residential Property Act: Law regulating restrictions on foreign ownership, requirements for residential property transactions, and related property matters in Singapore.

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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