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Broker Fee Agreement
"I need a Broker Fee Agreement for an exclusive arrangement to sell a high-end commercial property in Makati, with a 6-month term starting January 2025 and a tiered commission structure based on the final sale price."
1. Parties: Identification of the Principal/Client and the Broker, including license details and contact information
2. Background: Recitals explaining the context of the agreement, including the Principal's desire to engage the Broker's services
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Commission', 'Closing', etc.
4. Appointment and Scope of Services: Formal appointment of the broker and detailed description of services to be provided
5. Property Details: Description of the property or properties covered by the agreement
6. Term and Termination: Duration of the agreement, renewal terms, and termination conditions
7. Commission Structure: Detailed breakdown of broker fees, commission rates, and calculation methods
8. Payment Terms: Timing and method of commission payments, including conditions precedent
9. Broker's Obligations: Detailed responsibilities and duties of the broker
10. Principal's Obligations: Responsibilities and commitments of the principal
11. Representations and Warranties: Standard declarations by both parties regarding authority, capacity, and compliance
12. Confidentiality: Provisions regarding handling of confidential information
13. Governing Law: Specification of Philippine law as governing law and jurisdiction
14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Exclusivity: Optional clause granting exclusive rights to the broker, used when exclusive representation is agreed
2. Sub-Agents: Provisions regarding the appointment and management of sub-agents, used in complex transactions
3. Marketing Budget: Details of marketing expenses and responsibilities, used when specific marketing commitments are required
4. Performance Metrics: Specific performance targets and evaluation criteria, used in high-value or complex arrangements
5. Insurance Requirements: Specific insurance obligations beyond statutory requirements, used in high-value transactions
6. International Transactions: Additional provisions for cross-border transactions, used when dealing with international clients
7. Digital Marketing Rights: Specific provisions for online marketing and social media, used in modern marketing arrangements
1. Schedule A - Property Details: Detailed description of the property, including legal description, title information, and relevant certificates
2. Schedule B - Commission Structure: Detailed breakdown of commission rates, calculation methods, and examples
3. Schedule C - Marketing Plan: Detailed marketing strategy and activities to be undertaken
4. Schedule D - Required Documents: List of necessary documentation for the transaction
5. Appendix 1 - Broker's License: Copy of broker's professional license and PRC certification
6. Appendix 2 - Standard Forms: Standard forms to be used during the engagement
7. Appendix 3 - Compliance Checklist: Checklist of regulatory requirements and compliance matters
Authors
Broker
Principal
Property
Commission
Closing
Effective Date
Term
Services
Exclusive Rights Period
Listing Price
Transaction Value
Confidential Information
Marketing Materials
Professional License
Force Majeure
Business Day
Closing Date
Transaction Documents
Gross Sale Price
Net Sale Price
Purchase Price
Earnest Money
Due Diligence Period
Marketing Period
Intellectual Property Rights
Sub-Agent
Affiliate
Property Documents
Regulatory Authority
PRC
RESA
Completion
Material Breach
Competing Property
Working Hours
Prospective Buyer
Prospective Seller
Marketing Plan
Professional Fees
Success Fee
Retainer Fee
Transaction Fee
Territory
Scope of Services
Exclusivity
Term and Duration
Commission
Payment Terms
Performance Obligations
Representations and Warranties
Confidentiality
Non-Disclosure
Non-Circumvention
Professional Licensing
Regulatory Compliance
Property Marketing
Documentation Requirements
Sub-Brokerage
Termination
Force Majeure
Indemnification
Insurance
Intellectual Property
Data Protection
Notice
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Waiver
Third Party Rights
Compliance with Laws
Anti-Money Laundering
Conflict of Interest
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Land Development
Construction
Property Investment
Legal
Real Estate
Sales
Business Development
Compliance
Operations
Property Management
Asset Management
Contracts Administration
Risk Management
Finance
Real Estate Broker
Property Manager
Real Estate Agent
Business Development Manager
Sales Director
Property Developer
Real Estate Consultant
Compliance Officer
Legal Counsel
Contract Manager
Real Estate Operations Manager
Asset Manager
Facilities Manager
Real Estate Investment Manager
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