Memorandum Of Agreement Sample For Real Estate Philippines

Introduction

A Memorandum of Agreement (MOA) is a legal document that outlines the terms and conditions of an agreement between two or more parties. In the real estate industry, this document is commonly used to establish a partnership between a property owner and a real estate agent or broker. This article will provide a sample MOA for real estate transactions in the Philippines.

Parties Involved

This MOA is entered into between [OWNER'S NAME], hereinafter referred to as the "OWNER", and [AGENT/BROKER'S NAME], hereinafter referred to as the "AGENT/BROKER".

Property Description

The property that is the subject of this agreement is located at [PROPERTY ADDRESS] and is described as follows: [PROPERTY DESCRIPTION].

Purpose

The purpose of this MOA is to establish a partnership between the OWNER and AGENT/BROKER for the purpose of marketing and selling the property described above.

Terms and Conditions

Exclusive Authority

The OWNER hereby grants the AGENT/BROKER the exclusive authority to market and sell the property described above. This means that no other agent or broker will be authorized to market or sell the property during the term of this agreement.

Duration

This agreement shall be in effect for a period of [DURATION] months, starting from the date of signing.

Commission

The AGENT/BROKER shall be entitled to a commission of [COMMISSION AMOUNT] percent of the total selling price of the property. This commission shall be due and payable upon the completion of the sale.

Marketing Plan

The AGENT/BROKER shall be responsible for developing and implementing a marketing plan for the property, which shall include but not limited to:

Listing the property on various real estate websites and platforms
Advertising the property in local newspapers and other publications
Hosting open houses and property tours
Networking with other real estate agents and brokers

Cooperation

The OWNER agrees to cooperate with the AGENT/BROKER in marketing and selling the property, including but not limited to:

Providing the AGENT/BROKER with all necessary information and documentation regarding the property
Allowing the AGENT/BROKER to conduct open houses and property tours
Granting access to the property for potential buyers and their agents/brokers

Termination

This agreement may be terminated by either party upon [NOTICE PERIOD] days written notice to the other party. In the event of termination, the AGENT/BROKER shall be entitled to receive a commission for any sales that were completed during the term of this agreement.

Signatures

By signing below, the parties acknowledge that they have read and understood the terms and conditions of this MOA and agree to be bound by them.

[OWNER'S NAME] __________________________________________________

Date: _______________________

[AGENT/BROKER'S NAME] ____________________________________________