Broker Agreement Template for United States

A Broker Agreement sets out the terms when you hire a broker to help buy, sell, or lease property in the Philippines. It spells out the broker's duties, commission rates, and how long they'll work for you. Licensed under the Professional Regulation Commission, brokers must follow strict rules outlined in the Real Estate Service Act.

The agreement protects both parties by clearly stating what services the broker will provide, such as marketing properties, arranging viewings, or negotiating deals. It typically includes important details like exclusive rights periods, payment terms, and conditions for ending the relationship. Filipino law requires these agreements to be in writing when they involve real estate transactions.

Use a Broker Agreement when hiring a real estate professional to buy, sell, or lease property in the Philippines. This becomes essential before allowing a broker to represent your interests, especially for high-value transactions or when dealing with multiple properties. The timing is crucial - put this agreement in place before the broker starts marketing your property or searching for potential deals.

Getting this agreement signed upfront helps avoid disputes about commission rates, exclusivity periods, and service expectations. It's particularly important when working with commercial properties, investment portfolios, or when coordinating with multiple stakeholders. Under Philippine law, having clear written terms protects both parties and ensures compliance with real estate regulations.

• Broker Contract Agreement: The standard comprehensive agreement outlining basic terms, duties, and compensation for property transactions
• Agent Commission Agreement: Focuses specifically on commission structures and payment terms for successful deals
• Commission Agreement Between Brokers: Used when multiple brokers collaborate on a transaction, detailing commission splits
• Real Estate Agent Referral Form: Covers referral arrangements and associated fees between agents
• Freight Agent Contract: Specialized agreement for logistics and shipping brokerage services

• Licensed Real Estate Brokers: Key professionals who execute the agreement, must be PRC-certified and follow RESA guidelines when representing clients
• Property Owners/Sellers: Engage brokers to market and sell their properties, setting commission rates and listing terms
• Property Buyers: Work with brokers to find and purchase properties, often agreeing to exclusive representation
• Real Estate Firms: Corporate entities that employ multiple brokers and standardize agreement terms
• Legal Counsel: Review and customize agreements to ensure compliance with Philippine real estate laws and protect client interests
• Property Developers: Partner with brokers to sell new developments, often using specialized commission structures

• Broker Details: Gather PRC license number, business address, and professional credentials
• Service Scope: Define exact services, property types, and geographical areas covered
• Commission Structure: Determine rates, payment terms, and conditions for earning commission
• Duration: Set agreement period, renewal terms, and termination conditions
• Property Information: List specific properties or property types included in the agreement
• Exclusivity Terms: Decide if the broker has exclusive rights or can work with other agents
• Documentation: Prepare required forms, property titles, and tax declarations
• Digital Tools: Use our platform to generate a legally-compliant agreement that includes all essential elements

• Party Details: Full names, addresses, and PRC license numbers of broker and client
• Scope of Authority: Clear description of broker's duties, responsibilities, and authorized actions
• Commission Terms: Detailed breakdown of rates, payment schedule, and conditions for earning fees
• Duration Clause: Agreement period, renewal options, and termination conditions
• Property Details: Specific description of properties covered under the agreement
• Exclusivity Terms: Clear statement on exclusive or non-exclusive representation rights
• Compliance Statement: Reference to RESA law and PRC regulations
• Dispute Resolution: Process for handling disagreements under Philippine law
• Signatures: Dated signatures of all parties, with proper witnessing requirements

A Broker Agreement differs significantly from an Agency Agreement in several key aspects, though both involve representation relationships. Understanding these differences is crucial for choosing the right document in Philippine business contexts.

• Scope of Authority: Broker Agreements typically limit authority to specific transactions or properties, while Agency Agreements often grant broader powers to act on behalf of the principal
• Duration: Broker Agreements usually cover specific transactions or fixed periods, whereas Agency Agreements often establish ongoing relationships
• Compensation Structure: Brokers typically earn commission on successful transactions only, while agents may receive regular fees or salaries
• Legal Obligations: Agency Agreements create deeper fiduciary duties and broader representation rights than Broker Agreements, which focus on specific deal-making functions
• Regulatory Framework: Broker Agreements must comply with RESA guidelines and PRC regulations, while Agency Agreements follow general contract and civil code provisions