The Listing Addendum serves as a crucial modification tool in Philippine real estate transactions, allowing parties to update or amend existing listing agreements without drafting entirely new contracts. This document type is particularly useful when circumstances change during the listing period, such as adjustments to pricing strategy, marketing approach, or listing duration. The Listing Addendum must comply with Philippine real estate laws, including the Real Estate Service Act (RESA) and regulations from the Department of Human Settlements and Urban Development. It's commonly used when market conditions fluctuate, property details need updating, or commission structures require modification. The document should clearly reference the original listing agreement and specify exactly which terms are being modified while maintaining the validity of other unchanged terms.
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1. Parties: Identification of the Property Owner/Seller and the Real Estate Broker/Agency, including their complete legal names and addresses
2. Background: Reference to the original Listing Agreement, including its date of execution and basic terms
3. Definitions: Key terms used in the addendum, ensuring consistency with the original listing agreement
4. Purpose of Addendum: Clear statement of the purpose of this addendum and its relationship to the original listing agreement
5. Modifications to Original Agreement: Specific changes being made to the original listing agreement, clearly referencing the sections being modified
6. Effect on Original Agreement: Statement confirming that all other terms of the original listing agreement remain in full force and effect
7. Governing Law: Confirmation that the addendum is governed by Philippine law
8. Execution: Signature block for all parties, including dates and witnesses as required by Philippine law
1. Commission Modifications: Used when the addendum involves changes to the commission structure or payment terms
2. Extended Listing Period: Used when the purpose is to extend the original listing period
3. Property Details Update: Used when there are changes to the property description or listing details
4. Marketing Terms: Used when modifying the agreed marketing strategy or advertising terms
5. Price Modification: Used when changing the listing price or price terms
6. Special Conditions: Used when adding specific conditions or requirements not covered in the original agreement
7. Electronic Execution Provisions: Used when the addendum will be executed electronically, ensuring compliance with the E-Commerce Act
1. Schedule A - Modified Terms: Detailed list of specific terms being modified from the original agreement
2. Schedule B - Updated Property Information: If applicable, updated property details, specifications, or inclusions/exclusions
3. Schedule C - Revised Commission Structure: If applicable, detailed breakdown of modified commission terms
4. Appendix 1 - Required Disclosures: Any additional disclosures required under Philippine real estate laws
5. Appendix 2 - Marketing Plan Updates: If applicable, revised marketing strategy and commitment details
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Property Development
Property Management
Real Estate Investment
Real Estate Services
Property Sales
Luxury Real Estate
Industrial Property
Relevant Teams
Legal
Real Estate Operations
Sales
Compliance
Business Development
Property Management
Contract Administration
Asset Management
Transaction Processing
Documentation
Relevant Roles
Real Estate Broker
Property Manager
Real Estate Agent
Sales Director
Business Development Manager
Real Estate Attorney
Legal Counsel
Compliance Officer
Property Developer
Real Estate Operations Manager
Contract Administrator
Real Estate Transaction Coordinator
Portfolio Manager
Asset Manager
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