Estate Agency Agreement For Sale Of Residential Properties
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4ESTATE AGENCY AGREEMENT FOR SALE OF RESIDENTIAL
FORM 3
PROPERTIES IN HONG KONG
GENERAL CAUTION: Read this Agreement carefully and follow its instructions. If you do not understand any thing in this Agreement
then ask for an explanation to be given. If you do not understand or agree with any explanation given then it is best to consult your
solicitor before signing this Agreement.
(1)
Information note: Where any thing in this Agreement is followed by a number in brackets (e.g.
), then immediately read the
explanatory note that bears that number in Schedule 4 to this Agreement. Where any thing in this Agreement refers to a Schedule to this
Agreement, then immediately read that Schedule.
1.
Appointment of Agent and Validity Period of this Agreement
(2)
I/We, _____________________________________ (“Vendor”), appoint _____________________ (“Agent”
)
(3)
(1)
subject to and in accordance with the terms of this Agreement to act as my/our exclusive
/non-exclusive
agent in
the marketing of _____________________________________________________________________ (“Property”).
This Agreement shall take effect on __________________ (D/M/Y) and expire on ___________________ (D/M/Y)
(both days inclusive) (“Validity Period”).
[CAUTION: In the case of exclusive agency, the Vendor may be liable to pay commission to the Agent even if the Property is not
sold through the Agent within the Validity Period. The Vendor should therefore consider carefully when he enters into an
exclusive agency relationship with the Agent. Special obligations to be performed by the Agent under exclusive agency may be
specified as extra terms under clause 13.]
2.
Agency Relationship and Duties of Agent
The Agent agrees with the Vendor that –
(a)
the agency relationship between them in respect of the Property shall be a single agency/dual
(3)(1)
agency/potentially dual agency
;
(b)
in the case of dual agency, the Agent shall as soon as is practicable disclose in writing to the Vendor the
amount or rate of commission to be received by the Agent from a purchaser;
(c)
in the case of potentially dual agency, the Agent shall as soon as is practicable after dual agency arises
disclose in writing to the Vendor such agency relationship and the amount or rate of commission to be
received by the Agent from a purchaser; and
(d)
The Agent’s duties shall be as set out in Schedule 1 to this Agreement, in addition to the duties placed on the
Agent by this Agreement or any enactment.
3.
List Price [CAUTION: The Vendor does not confer upon the Agent, by virtue of this clause, the right to accept an
offer on behalf of the Vendor. The list price is for the purpose of listing and advertising only.]
The list price shall be Hong Kong Dollars________________________________________ (HK$______________).
The list price can only be varied with written instructions of the Vendor and such instructions shall form part of this
Agreement.
4.
Commission
The provisions of this Agreement applicable to the commission to be paid by the Vendor to the Agent shall be as set
(4)
out in Schedules 2 and 4 to this Agreement
.
5.
Property Information
The Agent shall provide to the Vendor the Property Information Form including the Vendor’s Statement prescribed
under the Estate Agents Practice (General Duties and Hong Kong Residential Properties) Regulation duly completed
and signed by the Agent.
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