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Agreement Between Brokers For Residential Lease for Philippines

Agreement Between Brokers For Residential Lease Template for Philippines

This document is a formal agreement between two licensed real estate brokers in the Philippines, establishing the terms and conditions for their cooperation in residential lease transactions. It complies with the Real Estate Service Act (RESA) of the Philippines and related regulations, outlining commission sharing arrangements, responsibilities, and operational procedures. The agreement includes provisions for property listings management, client handling, commission splits, dispute resolution, and confidentiality requirements, all within the context of Philippine real estate law and practice.

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What is a Agreement Between Brokers For Residential Lease?

The Agreement Between Brokers For Residential Lease is essential for real estate professionals in the Philippines who wish to formalize their cooperation in residential leasing transactions. This document becomes necessary when two licensed brokers or brokerage firms decide to work together to maximize their market reach and efficiency in handling residential lease properties. It ensures compliance with the Real Estate Service Act (RESA) and other relevant Philippine regulations while protecting both parties' interests. The agreement typically covers commission structures, property listing protocols, client management procedures, and dispute resolution mechanisms. It's particularly relevant in urban areas with high rental activity and is designed to promote professional collaboration while maintaining clear accountability and compliance with local real estate practices.

What sections should be included in a Agreement Between Brokers For Residential Lease?

1. Parties: Identifies the cooperating brokers, including their license numbers, PRC registration details, and business addresses

2. Background: Explains the context of the cooperation agreement and the intention to work together on residential lease transactions

3. Definitions: Defines key terms used in the agreement, including 'Property', 'Commission', 'Listing Broker', 'Cooperating Broker', 'Lease Agreement', and other relevant terms

4. Scope of Cooperation: Outlines the nature and extent of the cooperation between the brokers

5. Commission Structure: Details the commission rates and sharing arrangement between the brokers

6. Broker Responsibilities: Specifies the duties and obligations of each broker in the cooperation

7. Property Listings: Describes how property listings will be shared and managed between the brokers

8. Confidentiality: Addresses the handling of confidential information and client data

9. Term and Termination: Specifies the duration of the agreement and conditions for termination

10. Dispute Resolution: Outlines the process for resolving any disputes between the brokers

11. Governing Law: Confirms that the agreement is governed by Philippine law and relevant real estate regulations

12. Execution: Formal closing section with signature blocks and notarization requirements

What sections are optional to include in a Agreement Between Brokers For Residential Lease?

1. Marketing and Advertising: Details how marketing efforts and costs will be shared, used when brokers plan joint marketing activities

2. Exclusive Territories: Defines geographical areas of operation for each broker, used when territorial exclusivity is part of the arrangement

3. Client Referral Process: Outlines the procedure for referring clients between brokers, used in cases where regular referrals are expected

4. Digital Platform Usage: Specifies terms for using shared digital platforms or software, included when brokers use common technology tools

5. Professional Insurance: Details requirements for professional indemnity insurance, included when higher-value properties are involved

6. Training and Support: Describes any training or support obligations between brokers, used when one broker will provide training to the other's team

What schedules should be included in a Agreement Between Brokers For Residential Lease?

1. Schedule A - Commission Structure: Detailed breakdown of commission rates and sharing formulas for different types of transactions

2. Schedule B - Property Types: List of property types covered under the agreement with any specific terms for each type

3. Schedule C - Standard Forms: Templates for common documents used in the cooperation, such as listing sheets and referral forms

4. Schedule D - Territory Map: If applicable, map showing the defined territories for each broker

5. Appendix 1 - Broker Credentials: Copies of broker licenses, PRC registrations, and other relevant certifications

6. Appendix 2 - Contact Protocol: List of key contacts and escalation procedures for both parties

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

Jurisdiction

Philippines

Publisher

Genie AI

Document Type

Broker Agreement

Cost

Free to use
Relevant legal definitions








































Clauses


































Relevant Industries

Real Estate

Residential Property

Property Management

Professional Services

Property Leasing

Real Estate Brokerage

Relevant Teams

Legal

Compliance

Real Estate Operations

Residential Leasing

Business Development

Property Management

Documentation

Client Relations

Contract Administration

Relevant Roles

Real Estate Broker

Senior Property Consultant

Leasing Manager

Real Estate Agency Owner

Property Portfolio Manager

Residential Leasing Specialist

Broker Associate

Managing Broker

Real Estate Agency Director

Compliance Officer

Legal Counsel

Business Development Manager

Industries







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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