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Land Sale Commission Agreement
"I need a Land Sale Commission Agreement under Malaysian law for an exclusive 6-month arrangement starting March 1, 2025, with a 2% commission rate for the sale of a commercial property in Kuala Lumpur."
1. Parties: Identification of the property owner/seller and the licensed real estate agent/agency, including registration numbers and addresses
2. Background: Context of the agreement, including brief description of the property and the owner's intention to sell
3. Definitions: Key terms used in the agreement including 'Property', 'Commission', 'Completion', 'Effective Date', and 'Exclusive Period' if applicable
4. Appointment: Formal appointment of the agent and whether it's an exclusive or non-exclusive arrangement
5. Agent's Services: Detailed scope of services to be provided by the agent
6. Commission Structure: Details of commission rate, calculation method, and when commission becomes payable
7. Payment Terms: Timing and method of commission payment, including any deposit requirements
8. Agent's Obligations: Specific duties and responsibilities of the agent, including regulatory compliance requirements
9. Owner's Obligations: Responsibilities of the property owner, including providing accurate information and access to the property
10. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
11. Confidentiality: Obligations regarding confidential information and client privacy
12. Representations and Warranties: Standard declarations about authority, capacity, and compliance with laws
13. Liability and Indemnity: Extent of agent's liability and mutual indemnification provisions
14. Governing Law: Specification of Malaysian law as governing law and jurisdiction
15. Notices: Method and addresses for formal communications between parties
16. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Marketing Budget: Used when specific marketing commitments and budget allocations need to be agreed upon
2. Sub-Agents: Include when the primary agent may need to engage other agents or agencies
3. International Marketing: Required when the property will be marketed to international buyers
4. Digital Marketing Rights: Include when specific digital marketing provisions need to be addressed
5. Minimum Price: Used when the owner wants to specify a minimum acceptable sale price
6. Post-Termination Obligations: Include when there's a need to protect the agent's rights to commission for leads generated during the agreement period
7. Dispute Resolution: Optional alternative dispute resolution procedures beyond court jurisdiction
8. Force Majeure: Include when specific provisions for unforeseen circumstances are required
1. Property Details: Complete description of the property including title details, lot number, and specifications
2. Commission Schedule: Detailed breakdown of commission rates, including any sliding scales or special circumstances
3. Marketing Plan: Detailed marketing strategy and timeline for the property sale
4. Agent's License and Credentials: Copies of relevant licenses and professional certifications
5. Property Documents: List of all property-related documents provided by the owner
6. Service Level Agreement: Specific performance metrics and service standards
7. Approved Marketing Materials: Templates or examples of approved marketing materials and property descriptions
Authors
Real Estate
Property Development
Construction
Investment Management
Real Estate Investment
Commercial Property
Residential Property
Industrial Property
Agriculture (for agricultural land)
Hospitality
Retail
Legal
Real Estate
Sales
Business Development
Contracts
Compliance
Property Management
Investment
Operations
Finance
Risk Management
Real Estate Agent
Property Agent
Real Estate Broker
Property Sales Manager
Real Estate Director
Property Developer
Land Owner
Investment Manager
Real Estate Investment Manager
Property Portfolio Manager
Legal Counsel
Contract Manager
Business Development Manager
Sales Director
Managing Director
Chief Executive Officer
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