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The Buyer Broker Agreement Form is a crucial document in Philippine real estate transactions that formalizes the relationship between a property buyer and their chosen real estate broker. This agreement becomes necessary when a buyer seeks professional assistance in finding and acquiring property, whether for residential, commercial, or investment purposes. The document, governed by Philippine law and regulated under the Real Estate Service Act (RESA) of 2009, specifies the broker's duties, compensation terms, and the buyer's obligations. It includes essential provisions for protecting both parties' interests, ensuring compliance with local real estate regulations, and establishing clear parameters for the professional service relationship. The agreement is particularly important in the Philippine context, where real estate transactions must adhere to specific legal requirements and professional standards set by the Professional Regulation Commission.

1. Parties: Identifies the broker and the buyer, including their complete legal names, addresses, and contact information

2. Background: Establishes the context of the agreement, including the buyer's intention to purchase property and the broker's qualifications

3. Definitions: Defines key terms used throughout the agreement including 'Property Requirements', 'Broker Services', 'Commission', etc.

4. Appointment of Broker: Formal appointment of the broker and specification of whether it's an exclusive or non-exclusive arrangement

5. Scope of Broker's Services: Detailed description of services the broker will provide, including property search, negotiations, and documentation assistance

6. Term of Agreement: Specifies the duration of the agreement and any renewal provisions

7. Broker's Compensation: Details of broker's commission, payment terms, and conditions for commission becoming due

8. Buyer's Obligations: Specifies the buyer's responsibilities, including providing accurate requirements and cooperating with the broker

9. Representations and Warranties: Statements of fact and guarantees from both parties, including broker's licensing status

10. Termination: Conditions and procedures for ending the agreement

11. Confidentiality: Provisions for handling confidential information in compliance with Philippine Data Privacy Act

12. Governing Law: Specifies Philippine law as governing law and jurisdiction for disputes