Buyer Representation Agreement Template for United States

A Buyer Representation Agreement creates a legal partnership between you and your real estate broker in the Philippines. When you sign this contract, your broker commits to finding properties that match your needs, negotiating on your behalf, and protecting your interests throughout the home-buying process.

Under Philippine real estate laws, this agreement spells out important details like your broker's duties, their commission rate, and how long they'll work with you. It also gives your agent exclusive rights to represent you, meaning you'll work with them alone during the specified period - typically 3 to 6 months. This protection helps your broker invest time and resources into your property search with confidence.

Sign a Buyer Representation Agreement when you're ready to seriously search for property in the Philippines and want dedicated professional help. This agreement becomes essential once you've found a real estate broker you trust and want them to start actively looking for homes, scheduling viewings, or preparing offers on your behalf.

The timing is particularly important in competitive markets like Metro Manila, where having an exclusive agent working for you can give you an edge. Get this agreement in place before your broker invests significant time in your search - it protects both parties and ensures your agent can fully commit to finding your ideal property while maintaining confidentiality throughout the process.

• Buyer Rep Agreement: The standard residential real estate version used for home purchases in the Philippines, covering property searches, negotiations, and standard commission structures for a set period.
• Car Buyer Representation Agreement: A specialized version for vehicle purchases, adapted to include specific terms about car inspections, test drives, and dealer negotiations - particularly useful when importing vehicles or dealing with luxury car purchases in the Philippines.

• Home Buyers: Sign the agreement to secure dedicated representation during property searches and negotiations in the Philippines market.
• Licensed Real Estate Brokers: Draft and propose these agreements to protect their interests while serving clients, outlining their duties and compensation terms.
• Real Estate Agencies: Provide standardized agreement templates and ensure their brokers follow Professional Regulation Commission guidelines.
• Legal Advisors: Review and customize agreements to protect their clients' interests and ensure compliance with Philippine real estate laws.

• Property Details: List your preferred locations, price range, and property type to help your broker focus the search effectively.
• Duration Terms: Decide on the agreement length (typically 3-6 months in the Philippines) and any extension conditions.
• Commission Structure: Clarify the broker's compensation, usually 3-5% of the purchase price in Philippine markets.
• Broker Credentials: Verify your broker's PRC license and current registration status.
• Scope of Services: Outline specific services needed, from property viewing to price negotiations and documentation support.

• Party Information: Full legal names, addresses, and contact details of both buyer and broker, including PRC license numbers.
• Scope of Authority: Clear description of broker's duties, responsibilities, and limits of representation under Philippine real estate laws.
• Compensation Terms: Detailed breakdown of commission rates, payment timing, and conditions for earning the commission.
• Duration Clause: Specific start and end dates of the agreement, plus any renewal or termination conditions.
• Property Parameters: Target price range, preferred locations, and property specifications.
• Signatures: Dated signatures of all parties, with proper witnessing as required by Philippine law.

A Buyer Representation Agreement differs significantly from an Agency Agreement in the Philippine real estate context. While both involve professional representation, their scope and applications serve distinct purposes.

• Exclusivity: Buyer Representation Agreements typically grant exclusive rights to one broker for property searches, while Agency Agreements may allow multiple representatives.
• Scope of Services: Buyer Representation focuses specifically on property purchases and buyer protection, whereas Agency Agreements cover broader services like property management or rental listings.
• Duration: Buyer agreements usually last 3-6 months for a specific purchase, while Agency Agreements often extend longer for ongoing services.
• Commission Structure: Buyer Representation typically involves a success-based commission on purchase price, while Agency Agreements may include various fee structures for different services.