The Buyer Agent Exclusive Agreement is a crucial document in Philippine real estate transactions that formalizes the professional relationship between a property buyer and their chosen real estate agent. This agreement is particularly important in the Philippine market where property transactions require careful navigation of local regulations and market practices. The document is used when a buyer wants dedicated, exclusive representation in their property search, ensuring their interests are protected and professionally managed. It outlines the agent's exclusive rights and responsibilities, commission structure, and the scope of property search services. The agreement must comply with the Real Estate Service Act (RESA) and other relevant Philippine laws, making it essential for both residential and commercial property transactions. The Buyer Agent Exclusive Agreement typically includes specific provisions about the search criteria, territory covered, duration of the exclusive relationship, and protection periods.
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1. Parties: Identifies the buyer (principal) and the real estate agent/broker (agent), including their complete legal names and addresses
2. Background: Brief context explaining the buyer's intention to purchase property and desire to engage the agent's services
3. Definitions: Defines key terms used throughout the agreement, including 'Property Requirements', 'Territory', 'Exclusive Period', and 'Commission'
4. Appointment and Scope: Establishes the exclusive agency relationship and details the specific services the agent will provide
5. Term and Exclusivity: Specifies the duration of the agreement and confirms the exclusive nature of the agency relationship
6. Agent's Obligations: Lists the agent's duties, including property search, negotiations, due diligence, and regular reporting
7. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate requirements, responding to proposals, and maintaining exclusivity
8. Commission Structure: Details the agent's compensation, including rate, calculation method, and payment terms
9. Confidentiality: Addresses the handling of confidential information shared during the engagement
10. Termination: Specifies the conditions and process for ending the agreement
11. Governing Law: Confirms that Philippine law governs the agreement
12. Signatures: Space for parties to execute the agreement with appropriate witnessing
1. Protection Period: Optional clause defining a period after termination during which the agent remains entitled to commission for properties shown during the agreement term
2. Dispute Resolution: Optional section detailing mediation or arbitration procedures for conflict resolution
3. Force Majeure: Optional clause addressing unforeseeable circumstances that may prevent performance
4. Assignment: Optional provision regarding the ability to transfer rights under the agreement
5. Multiple Buyers: Optional section for cases where multiple buyers are jointly engaging the agent
6. Digital Communications: Optional section addressing electronic communications and digital signatures
1. Schedule A - Property Requirements: Detailed specification of the type, location, and characteristics of properties the buyer is interested in
2. Schedule B - Commission Schedule: Detailed breakdown of commission rates and calculation methods for different transaction values
3. Schedule C - Agent's Services: Comprehensive list of specific services the agent will provide
4. Appendix 1 - Agent's Credentials: Copies of the agent's PRC license and other relevant certifications
5. Appendix 2 - Required Disclosures: Mandatory disclosures required under Philippine real estate laws
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Property Investment
Commercial Property
Residential Property
Real Estate Services
Professional Services
Legal Services
Relevant Teams
Real Estate
Legal
Compliance
Property Acquisition
Corporate Services
Business Development
Contracts Administration
Risk Management
Relevant Roles
Real Estate Agent
Real Estate Broker
Property Buyer
Real Estate Manager
Property Acquisition Manager
Legal Counsel
Compliance Officer
Real Estate Director
Property Investment Manager
Contract Administrator
Business Development Manager
Corporate Real Estate Manager
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