Buyer Representation Agreement Exclusive Template for Philippines

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.

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