The Listing Contract Addendum is a crucial document in Philippine real estate practice that allows parties to modify their existing listing agreement without creating an entirely new contract. It is commonly used when circumstances change during the listing period, such as adjusting the listing price, extending the listing duration, or adding new marketing services. The document must comply with the Real Estate Service Act (RESA), the Civil Code of the Philippines, and relevant Professional Regulation Commission (PRC) guidelines. A Listing Contract Addendum typically includes reference to the original agreement, clearly stated modifications, and maintains all unmodified terms of the original contract. This document is particularly important in the Philippine real estate market where market conditions and property values can change rapidly, requiring flexible adjustments to listing agreements while maintaining legal compliance.
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1. Parties: Identification of all parties involved, including the property owner(s) and the licensed real estate broker or agent, with their respective license numbers and contact information
2. Background: Reference to the original listing agreement, including its date of execution and any previous addenda, establishing the context for this addendum
3. Definitions: Key terms used in the addendum that require specific definition, particularly any new terms not defined in the original agreement
4. Purpose of Addendum: Clear statement of the purpose and scope of the modifications or additions being made to the original listing agreement
5. Amendments to Original Agreement: Specific modifications to the original listing agreement, clearly identifying which sections are being modified, added, or deleted
6. Effect on Original Agreement: Statement confirming that all other terms and conditions of the original listing agreement remain in full force and effect
7. Governing Law: Confirmation that the addendum is governed by Philippine law and specific reference to relevant regulations
8. Execution: Signature block for all parties, including witnesses if required, with date of execution
1. Additional Commission Terms: Used when modifying the commission structure or payment terms from the original agreement
2. Extended Listing Period: Used when changing the duration of the listing agreement
3. Modified Property Description: Used when updating or correcting the property description or including additional properties
4. Digital Marketing Authorization: Used when adding specific terms for online marketing and virtual showings
5. Price Modification: Used when changing the listing price or price range
6. Special Conditions: Used when adding specific conditions or requirements not covered in the original agreement
7. Broker's Additional Obligations: Used when adding new services or responsibilities for the broker
1. Schedule A - Modified Property Details: Updated or additional property information, including new features or improvements
2. Schedule B - Revised Commission Structure: Detailed breakdown of any changes to the commission structure or payment terms
3. Schedule C - Additional Marketing Requirements: Specific requirements for additional marketing services or platforms
4. Appendix 1 - Supporting Documents: Any new certificates, permits, or documents relevant to the modifications
5. Appendix 2 - Updated Property Photos: New or additional photographs of the property if relevant to the modifications
Relevant legal definitions
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Relevant Industries
Real Estate
Residential Property
Commercial Property
Industrial Property
Luxury Real Estate
Property Development
Property Management
Real Estate Investment
Retail Property
Office Space
Relevant Teams
Legal
Real Estate Operations
Sales
Compliance
Contract Administration
Business Development
Property Management
Documentation
Transaction Processing
Relevant Roles
Real Estate Broker
Property Manager
Real Estate Agent
Real Estate Attorney
Legal Counsel
Compliance Officer
Real Estate Division Head
Sales Director
Business Development Manager
Contract Administrator
Real Estate Operations Manager
Documentation Specialist
Property Consultant
Real Estate Transaction Coordinator
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