The Non-Exclusive Listing Agreement is commonly used in Singapore's real estate market when property owners wish to maximize their property's exposure through multiple channels. This document, regulated under Singapore's Estate Agents Act and CEA guidelines, establishes the terms under which a real estate agency can market and sell a property while preserving the owner's right to engage other agencies or conduct direct sales. The agreement typically includes commission structures, marketing commitments, property details, and the duration of the listing arrangement, while ensuring compliance with Singapore's property transaction regulations.
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Key Requirements PROMPT example:
Non Exclusive Listing Agreement
"I need a Non Exclusive Listing Agreement for my three-bedroom condo in Singapore's East Coast area, which I want to list from January 2025, with a commission rate of 1% and the ability to list with multiple agencies while maintaining the right to sell directly."
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1. Parties: Identification of the property owner and the estate agent/agency
2. Background: Context of the listing arrangement 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. Property Details: Specific information about the property being listed
6. Commission Structure: Details of fees, commission rates, and payment terms
7. Duration: Term of the listing agreement and renewal provisions
8. Obligations of Parties: Responsibilities of both agent and property owner
9. Termination: Conditions and process for ending the agreement
1. Marketing Strategy: Specific marketing approaches to be used when particular marketing commitments are agreed upon
2. Exclusions: Specific potential buyers or situations excluded from the agreement when owner has pre-existing relationships with potential buyers
3. Additional Services: Any extra services offered beyond standard listing when additional services are included in the arrangement
1. Property Details Schedule: Detailed description of property, including photographs and floor plans
2. Commission Schedule: Detailed breakdown of commission structure and payment terms
3. Marketing Plan: Detailed marketing strategy and timeline
4. Property Condition Report: Current condition of the property and any known issues
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