The Agency Agreement (Real Estate) is a fundamental document in South African property transactions that establishes the professional relationship between property owners and real estate agencies. This agreement is essential when a property owner wishes to engage a professional real estate agent to market, sell, or lease their property. It must comply with the Property Practitioners Act 22 of 2019 and other relevant South African legislation, including the Consumer Protection Act and FICA requirements. The document typically covers crucial aspects such as the scope of the agent's authority, commission structures, marketing responsibilities, mandatory disclosures, and both parties' obligations. It's particularly important as it provides legal protection for both the principal and the agent while ensuring transparency in the property transaction process.
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1. Parties: Identification of the Principal (property owner) and the Agent (real estate agency), including registration numbers and property practitioner registration details
2. Background: Context of the agreement, including the property details and the parties' intention to enter into an agency relationship
3. Definitions and Interpretation: Key terms used in the agreement and rules for interpreting the document
4. Appointment and Duration: Terms of the agent's appointment, whether sole mandate or non-exclusive, and duration of the agreement
5. Agent's Rights and Obligations: Detailed responsibilities of the agent including marketing, viewings, reporting, and compliance with property practitioners' code of conduct
6. Principal's Rights and Obligations: Property owner's responsibilities including providing accurate information, access to the property, and maintaining the property
7. Commission Structure: Details of agent's commission, payment terms, and conditions for commission becoming due
8. Marketing and Advertising: Agreed marketing approach, advertising methods, and cost allocation
9. Property Information and Disclosure: Mandatory disclosures under the Property Practitioners Act and accuracy of property information
10. Data Protection and Privacy: POPIA compliance measures and handling of personal information
11. Termination: Conditions for termination, notice periods, and consequences of termination
12. General Provisions: Standard clauses including notices, entire agreement, governing law, and dispute resolution
1. Dual Mandate Provisions: Used when the agent may act for both seller and buyer, addressing potential conflicts of interest
2. International Marketing: Include when the property will be marketed internationally, covering additional requirements and costs
3. Property Management Services: Added when the agent will also provide property management services beyond sales/letting
4. Digital and Virtual Services: Specific provisions for virtual viewings, digital signatures, and online marketing platforms
5. Development Property Provisions: Special terms for new developments or off-plan sales
6. Multiple Property Schedule: When the agreement covers multiple properties under one mandate
1. Schedule A - Property Details: Comprehensive description of the property, including physical attributes, zoning, and registered details
2. Schedule B - Commission Structure: Detailed breakdown of commission rates, calculation methods, and special circumstances
3. Schedule C - Marketing Plan: Specific marketing activities, timelines, and budget allocation
4. Schedule D - Property Condition Report: Detailed report on the property's condition as required by the Property Practitioners Act
5. Schedule E - Mandatory Disclosure Form: Statutory disclosure form as required by South African property law
6. Appendix 1 - Required Documentation: List of required documents including FICA requirements, tax clearance, and compliance certificates
7. Appendix 2 - Agency Credentials: Agent's licensing, qualifications, and professional memberships
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Property Management
Legal Services
Construction
Property Investment
Hospitality
Retail
Relevant Teams
Legal
Real Estate
Compliance
Sales
Property Management
Business Development
Risk Management
Operations
Documentation
Client Relations
Relevant Roles
Real Estate Agent
Property Practitioner
Property Manager
Real Estate Broker
Legal Counsel
Compliance Officer
Property Developer
Sales Director
Business Development Manager
Contract Manager
Property Portfolio Manager
Real Estate Agency Principal
Conveyancing Attorney
Risk Manager
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