Rights of an agent – Real estate for sale in Singapore
An Agent is entitled to, real estate for sale in Singapore:
1. The right to remuneration:
- Commission received only on successful closing
2. The right to reimbursement, indemnity or compensation:
- For example: Advertisement cost if the Principal has agreed
- For example: Compensation for abortive purchase.
- Must be expressively stated and agent must have acted within his authority. No reimbursement for illegal act.
3. Right of Lien:
- A lien is a passive right to hold eg. A piece of paper or goods until the holder is paid.
- For example: Holding on to the original TA or original stamp certificate till commission is paid.
- For example: Holding on to the key of the house till commission is paid.
- However, it should be noted that it does not allow agent to sell or dispose of the goods nor the property if the principal fails to pay.
- The lien merely entitles agent to keep them in his possession till obligations are met.
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