The Buyer Exclusive Agreement is a crucial document in Philippine real estate transactions, designed to formalize the relationship between property buyers and their chosen real estate representatives. This agreement is particularly important when buyers seek dedicated professional assistance in property acquisition, whether for residential, commercial, or investment purposes. The document, governed by Philippine law including the Civil Code and Real Estate Service Act, provides protection for both parties by clearly defining the exclusive nature of the relationship, service scope, and compensation terms. It is commonly used when buyers require comprehensive property search services and want to ensure dedicated representation in competitive real estate markets. The agreement typically includes detailed property requirements, territorial scope, service commitments, and commission structures, making it essential for both individual and corporate property acquisitions.
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1. Parties: Identifies and provides full details of the buyer and the buyer's representative/broker
2. Background: Contextualizes the agreement, explaining the buyer's intention to acquire property and the broker's services
3. Definitions: Defines key terms used throughout the agreement including 'Exclusive Period', 'Property Requirements', 'Territory', and 'Commission'
4. Appointment and Scope: Establishes the exclusive appointment of the broker and defines the scope of property search services
5. Term and Exclusivity: Specifies the duration of the exclusive agreement and the nature of the exclusive relationship
6. Broker's Services and Obligations: Details the specific services to be provided by the broker, including property search, negotiations, and advisory services
7. Buyer's Obligations: Outlines the buyer's commitments, including providing accurate requirements and cooperating with the broker
8. Commission Structure: Details the broker's compensation, payment terms, and conditions for commission eligibility
9. Confidentiality: Establishes confidentiality obligations regarding shared information
10. Termination: Specifies conditions and procedures for ending the agreement
11. Governing Law: Confirms Philippine law as governing law and specifies jurisdiction
12. Execution: Formal closing and signature blocks
1. Protection Period: Defines a period after agreement termination during which the broker remains entitled to commission; include when standard in the market
2. Dispute Resolution: Details mediation or arbitration procedures; include for higher-value agreements
3. Force Majeure: Addresses unforeseeable circumstances preventing performance; include during uncertain market conditions
4. Assignment: Restricts or permits transfer of rights under the agreement; include for corporate buyers
5. Warranties: Additional warranties from either party; include for complex transactions
6. Intellectual Property: Protects proprietary information and marketing materials; include when significant marketing services are involved
1. Schedule A - Property Requirements: Detailed specifications of the type of property the buyer seeks, including location, size, budget, and essential features
2. Schedule B - Commission Structure: Detailed breakdown of commission rates, payment terms, and calculation methods
3. Schedule C - Broker's Services: Comprehensive list of services to be provided by the broker
4. Appendix 1 - Required Documents: List of documents required from the buyer for property transactions
5. Appendix 2 - Territory Map: Map or description of the geographic area covered by the agreement
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Real Estate Investment
Property Management
Professional Services
Legal Services
Relevant Teams
Legal
Real Estate
Compliance
Property Acquisitions
Investment
Business Development
Operations
Corporate Services
Risk Management
Documentation
Relevant Roles
Real Estate Broker
Property Acquisition Manager
Real Estate Agent
Legal Counsel
Property Consultant
Investment Manager
Real Estate Investment Advisor
Corporate Real Estate Manager
Property Portfolio Manager
Compliance Officer
Real Estate Transaction Coordinator
Business Development Manager
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