The Buyer Representation Agreement Exclusive is a crucial document in Philippine real estate transactions that formalizes the professional relationship between a property buyer and their chosen real estate broker. This agreement is typically used when a buyer wants dedicated professional representation in their property search and requires the expertise of a licensed real estate professional under Philippine law. The document ensures compliance with the Real Estate Service Act (RESA) of 2009 and the Civil Code of the Philippines, while protecting both parties' interests through clear delineation of rights, responsibilities, and compensation terms. It's particularly important in the Philippine context where real estate transactions require careful navigation of local property laws and regulations, and where exclusive representation can provide buyers with dedicated professional support throughout their property acquisition journey.
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1. Parties: Identifies the buyer and the real estate broker/agency, including their complete legal names, addresses, and professional license numbers where applicable
2. Background: Establishes the context of the agreement, including the buyer's intention to purchase property and the broker's qualifications to provide services
3. Definitions: Defines key terms used throughout the agreement including 'Exclusive Representation', 'Property Requirements', and 'Commission'
4. Appointment and Scope of Authority: Details the exclusive appointment of the broker and the specific powers granted to represent the buyer
5. Term of Agreement: Specifies the duration of the exclusive representation agreement and any renewal provisions
6. Broker's Services and Obligations: Comprehensively lists all services the broker will provide, including property search, negotiations, and advisory services
7. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate requirements, maintaining exclusive representation, and cooperating with the broker
8. Commission Structure: Details the broker's compensation, including amount, calculation method, and payment terms
9. Confidentiality: Addresses the handling and protection of confidential information shared during the representation
10. Termination: Specifies the conditions and process for ending the agreement, including any early termination fees
11. Governing Law: Confirms that the agreement is governed by Philippine law and specifies the jurisdiction for dispute resolution
12. Entire Agreement: States that the document represents the complete agreement between parties and supersedes prior discussions
1. Property Requirements: Detailed section specifying the buyer's property preferences and requirements - used when the buyer has specific criteria
2. International Transactions: Additional provisions for foreign buyers or international transactions - included when the buyer is not a Philippine resident
3. Multiple Buyers: Special provisions for multiple buyers acting together - used when there are joint buyers
4. Virtual Services: Provisions for remote services and virtual property viewings - relevant for overseas buyers or during restrictions
5. Financing Contingencies: Provisions related to buyer's financing requirements - included when buyer requires financing assistance
6. Special Power of Attorney: Additional provisions when the broker needs specific powers to act on behalf of the buyer - used for overseas buyers or specific circumstances
1. Schedule A - Property Requirements: Detailed list of buyer's property requirements including location preferences, size, budget, and other specifications
2. Schedule B - Commission Structure: Detailed breakdown of commission calculations, payment terms, and any special arrangements
3. Schedule C - Broker's Services: Comprehensive list of all services included in the representation agreement
4. Appendix 1 - Broker's Credentials: Copies of broker's license, certifications, and professional affiliations
5. Appendix 2 - Required Documents: List of documents required from the buyer for proper representation
6. Appendix 3 - Code of Ethics: Reference to applicable professional code of ethics and standards
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Industrial Property
Retail Property
Hospitality
Mixed-Use Development
Property Investment
Property Development
Relevant Teams
Legal
Real Estate
Compliance
Procurement
Property Acquisition
Investment
Corporate Services
Operations
Business Development
Contract Administration
Relevant Roles
Real Estate Broker
Property Consultant
Real Estate Agent
Legal Counsel
Compliance Officer
Property Acquisition Manager
Real Estate Director
Investment Manager
Corporate Real Estate Manager
Property Portfolio Manager
Real Estate Transaction Manager
Business Development Manager
Contract Administrator
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