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Broker Seller Agreement

Broker Seller Agreement Template for Malaysia

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Key Requirements PROMPT example:

Broker Seller Agreement

"I need a Broker Seller Agreement for my luxury beachfront property in Penang, Malaysia, with exclusive rights for an international real estate agency starting March 2025, including provisions for global marketing and a tiered commission structure based on the final sale price."

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Document background
The Broker Seller Agreement is a crucial document in Malaysian real estate transactions that formalizes the relationship between property sellers and licensed real estate brokers. It is used when a property owner wishes to engage a professional broker to market and sell their property, whether residential, commercial, or industrial. The agreement must comply with Malaysian legislation, particularly the Valuers, Appraisers, Estate Agents and Property Managers Act 1981, and includes essential elements such as scope of services, commission structures, marketing responsibilities, and term of appointment. This document is particularly important in Malaysia's dynamic property market, where clear definition of roles, responsibilities, and compensation is crucial for successful property transactions. The agreement protects both parties' interests and ensures compliance with local real estate practices and regulations.
Suggested Sections

1. Parties: Identification of the broker and seller with full legal names, registration numbers, and addresses

2. Background: Context of the agreement, including brief description of the property and purpose of engagement

3. Definitions: Key terms used throughout the agreement including 'Property', 'Commission', 'Exclusive Period', etc.

4. Appointment and Scope: Terms of broker's appointment and detailed scope of services to be provided

5. Duration: Term of the agreement, including start date and end date or renewal provisions

6. Broker's Rights and Obligations: Detailed listing of broker's responsibilities, duties, and rights under the agreement

7. Seller's Rights and Obligations: Seller's commitments, responsibilities, and rights including property information provision

8. Commission Structure: Detailed breakdown of commission rates, payment terms, and conditions for commission eligibility

9. Marketing and Promotion: Terms regarding property marketing, advertising approaches, and related costs

10. Confidentiality: Provisions for handling confidential information and property details

11. Termination: Conditions and process for ending the agreement, including notice requirements

12. Governing Law: Specification of Malaysian law as governing law and jurisdiction

13. General Provisions: Standard clauses including notices, amendments, and entire agreement provisions

Optional Sections

1. Exclusivity: Used when the broker is granted exclusive rights to sell the property

2. Sub-Agents: Include when the broker may engage other agents or sub-brokers

3. International Marketing: Added for high-value properties requiring international marketing efforts

4. Digital Marketing Rights: Specific provisions for online marketing and social media promotion

5. Property Management: Include if broker will provide additional property management services

6. Force Majeure: Added for longer-term agreements to address unforeseen circumstances

7. Anti-Money Laundering Compliance: Detailed AML obligations when dealing with high-value properties

8. Dispute Resolution: Detailed arbitration or mediation procedures for complex agreements

Suggested Schedules

1. Property Details: Detailed description of the property, including legal description, title details, and features

2. Commission Structure: Detailed breakdown of commission rates, including any sliding scales or special conditions

3. Marketing Plan: Specific marketing activities, timelines, and budgets

4. Broker's License and Credentials: Copies of broker's professional licenses and registrations

5. Approved Marketing Materials: Templates or examples of approved property listings and marketing materials

6. Service Level Agreement: Detailed performance metrics and service standards

7. Pricing History: Historical pricing information and current pricing strategy

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

alex.den.21@genieai.co
Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Industrial Property

Retail Property

Hospitality

Mixed-Use Development

Land Development

Agriculture Property

Office Property

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Operations

Property Management

Corporate Affairs

Risk Management

Contract Administration

Relevant Roles

Real Estate Broker

Property Agent

Real Estate Agency Director

Property Sales Manager

Legal Counsel

Contract Manager

Property Owner

Sales Director

Business Development Manager

Property Portfolio Manager

Compliance Officer

Real Estate Operations Manager

Property Developer

Estate Agent

Corporate Counsel

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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