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Real Estate Sellers Agreement

Real Estate Sellers Agreement Template for Malaysia

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Key Requirements PROMPT example:

Real Estate Sellers Agreement

"I need a Real Estate Sellers Agreement for my luxury penthouse in Kuala Lumpur, with an exclusive listing arrangement starting March 2025, including specific provisions for international marketing and virtual property tours."

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Document background
The Real Estate Sellers Agreement is a crucial document in Malaysian property transactions that formalizes the relationship between property owners and real estate professionals. This agreement is essential when a property owner wishes to engage professional assistance in selling their property in Malaysia, whether residential or commercial. The document encompasses all aspects of the selling arrangement, including commission structures, marketing strategies, and service obligations, while ensuring compliance with Malaysian real estate laws and regulations. It provides protection for both parties by clearly defining roles, responsibilities, and expectations, incorporating requirements from various Malaysian property laws including the National Land Code 1965 and the Valuers, Appraisers, Estate Agents and Property Managers Act 1981.
Suggested Sections

1. Parties: Identification and details of the seller and the appointed real estate agent/agency

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

3. Definitions: Key terms used throughout the agreement defined for clarity

4. Appointment and Authority: Scope of agent's appointment and extent of authority to act on seller's behalf

5. Property Details: Comprehensive description of the property including title details and encumbrances

6. Listing Price and Terms: Agreed listing price and acceptable terms of sale

7. Commission Structure: Agent's commission rate and payment terms

8. Marketing and Promotion: Agent's obligations regarding property marketing and advertising

9. Seller's Obligations: Seller's responsibilities including property maintenance and disclosure requirements

10. Agent's Obligations: Agent's duties, responsibilities and service standards

11. Duration and Termination: Term of agreement and conditions for termination

12. Confidentiality: Provisions regarding confidential information handling

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

14. Dispute Resolution: Process for handling disputes between parties

Optional Sections

1. Multiple Listing Service: Terms for listing on multiple platforms, used when the property will be listed on various property portals

2. Professional Photography: Terms regarding professional photography services, included when specific marketing arrangements are agreed

3. Open House Events: Provisions for conducting open houses, included when such events are planned

4. International Marketing: Special provisions for marketing to international buyers, used when targeting overseas investors

5. Dual Agency: Provisions for situations where the agent may represent both seller and buyer

6. Virtual Tours: Terms regarding virtual tour services and online showcasing

7. Special Conditions: Any unique requirements or conditions specific to the property or seller

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specifications, including lot number, title details, and exact measurements

2. Schedule 2 - Marketing Package: Detailed marketing plan and advertising schedule

3. Schedule 3 - Commission Structure: Detailed breakdown of commission rates and calculation methods

4. Schedule 4 - Property Condition Report: Current condition of the property and any known defects

5. Appendix A - Property Documents: Copies of title, strata plan (if applicable), and other relevant property documents

6. Appendix B - Property Photos: Current photographs of the property

7. Appendix C - Seller's Disclosure: Mandatory disclosures about property condition and history

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

Construction

Legal Services

Property Management

Real Estate Investment

Hospitality

Retail

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Contract Administration

Property Management

Marketing

Operations

Client Relations

Relevant Roles

Real Estate Agent

Property Manager

Real Estate Broker

Legal Counsel

Property Developer

Sales Director

Business Development Manager

Property Consultant

Compliance Officer

Contract Administrator

Real Estate Partnership Manager

Property Sales Executive

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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