Sole Selling Agent Agreement For (Real Estate) Template for Philippines

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Key Requirements PROMPT example:

Sole Selling Agent Agreement For (Real Estate)

"I need a Sole Selling Agent Agreement For (Real Estate) for my luxury beachfront property in Boracay, with provisions for international marketing and a minimum guarantee of PHP 50 million sale price, including special commission structures for sales above the asking price."

What is a Sole Selling Agent Agreement For (Real Estate)?

The Sole Selling Agent Agreement For (Real Estate) is a crucial document in Philippine real estate transactions that establishes an exclusive agency relationship for property sales. This agreement is typically used when property owners wish to ensure focused, dedicated marketing efforts through a single agent, avoiding potential conflicts and market confusion from multiple agents. The document must comply with the Real Estate Service Act of 2009 (RESA), the Civil Code of the Philippines, and other relevant real estate regulations. It's particularly important in high-value property transactions or when specialized marketing expertise is required. The agreement includes comprehensive details about commission structures, marketing strategies, property details, and the specific obligations of both parties, while ensuring all activities align with Philippine real estate laws and professional practice requirements.

What sections should be included in a Sole Selling Agent Agreement For (Real Estate)?

1. Parties: Identifies the property owner (Principal) and the licensed real estate broker/agency (Agent), including their complete legal names, addresses, and license details as required by RESA

2. Background: Establishes the context of the agreement, including brief description of the property and the owner's intention to sell through an exclusive agent

3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Exclusive Period', 'Gross Sale Price', 'Commission', etc.

4. Appointment and Scope: Clearly states the exclusive appointment of the agent and detailed scope of authority, including specific activities authorized

5. Term and Exclusivity: Specifies the duration of the exclusive agency period and conditions for renewal or extension

6. Agent's Rights and Obligations: Details the agent's responsibilities, including marketing efforts, showing the property, negotiating with prospects, and reporting requirements

7. Principal's Rights and Obligations: Outlines the property owner's commitments, including providing necessary documentation and maintaining the property

8. Commission Structure: Specifies the commission rate, calculation method, and payment terms, including any minimum guaranteed commission

9. Property Price and Terms: States the agreed listing price and acceptable terms of sale

10. Marketing and Promotion: Details the agreed marketing strategy and promotional activities

11. Termination: Specifies grounds for termination, notice requirements, and post-termination obligations

12. Governing Law and Dispute Resolution: States Philippine law as governing law and outlines dispute resolution procedures

What sections are optional to include in a Sole Selling Agent Agreement For (Real Estate)?

1. Protection Period: Defines a period after agreement termination during which the agent is entitled to commission for buyers they introduced - include when requested by the agent

2. Sub-Agents: Provisions regarding the appointment and management of sub-agents - include when the agent may need to work with other licensed professionals

3. International Marketing: Specific provisions for marketing to international buyers - include when targeting foreign investors

4. Property Management: Additional services related to property management during the selling period - include when the property is vacant or requires maintenance

5. Digital Marketing Rights: Specific provisions about online marketing, virtual tours, and digital content ownership - include for high-value properties requiring extensive digital marketing

6. Force Majeure: Provisions for unforeseen circumstances preventing performance - include when requested or in uncertain market conditions

What schedules should be included in a Sole Selling Agent Agreement For (Real Estate)?

1. Schedule A - Property Details: Detailed description of the property including lot area, floor area, title details, tax declaration, and current encumbrances

2. Schedule B - Marketing Plan: Detailed marketing strategy, timeline, and budget allocation

3. Schedule C - Commission Structure: Detailed breakdown of commission rates, payment terms, and any special commission arrangements

4. Schedule D - Property Documentation: List of all property-related documents provided by the owner

5. Appendix 1 - Property Photos and Floor Plans: Current photographs of the property and architectural plans

6. Appendix 2 - Agent's Credentials: Copies of agent's PRC license, certifications, and proof of authority to practice

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Industrial Property

Luxury Real Estate

Property Investment

Construction

Urban Development

Relevant Teams

Legal

Real Estate

Sales

Marketing

Business Development

Compliance

Property Management

Asset Management

Contract Administration

Documentation

Relevant Roles

Real Estate Broker

Property Owner

Real Estate Agent

Property Developer

Real Estate Manager

Legal Counsel

Compliance Officer

Sales Director

Marketing Manager

Property Manager

Business Development Manager

Contract Administrator

Real Estate Consultant

Asset Manager

Industries
Republic Act No. 9646 (Real Estate Service Act of 2009): Fundamental law governing real estate service practice in the Philippines, including requirements for real estate brokers, salespersons, and consultants. Defines scope of authority and responsibilities of real estate practitioners.
Civil Code of the Philippines (Republic Act No. 386): Governs contracts and agency relationships in general, particularly Book IV on Obligations and Contracts, and specific provisions on Agency (Articles 1868-1889) which are crucial for agent-principal relationships.
Professional Regulation Commission (PRC) Resolution No. 2006-420: Sets the rules and regulations governing the registration and supervision of real estate service practitioners, including requirements for professional practice.
Republic Act No. 3765 (Truth in Lending Act): Relevant for provisions regarding financial disclosures in real estate transactions when financing is involved in the property sale.
National Internal Revenue Code: Contains provisions on tax obligations related to real estate transactions, including capital gains tax, value-added tax, and documentary stamp tax.
Department of Human Settlements and Urban Development Act (Republic Act No. 11201): Provides regulatory framework for real estate developments and projects, affecting what properties can be sold and under what conditions.
Anti-Money Laundering Act (AMLA) as amended: Contains provisions affecting real estate transactions, particularly regarding reporting requirements for high-value property deals to prevent money laundering.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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