The Listing Release Form is a crucial document in Philippine real estate transactions that establishes the legal framework for property marketing activities. It is required when a property owner wishes to engage a real estate professional or agency to list and market their property. The document must comply with several Philippine regulations, including the Real Estate Service Act (RESA), Data Privacy Act, and relevant property laws. The form typically includes comprehensive property details, marketing authorizations, data privacy consents, and terms of the listing arrangement. It serves as both a permission document and a protective agreement, ensuring all parties understand their rights and obligations in the property listing process. The Listing Release Form is particularly important in the Philippine context where real estate transactions are heavily regulated and proper documentation is essential for legal compliance.
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1. Parties: Identifies the property owner(s) ('Owner') and the real estate professional/agency ('Agent') who will list the property
2. Background: Brief context about the property and the owner's intention to list it for sale/lease
3. Definitions: Defines key terms used in the agreement including 'Property', 'Listing Period', 'Marketing Materials', etc.
4. Property Details: Complete description of the property including address, title details, and relevant specifications
5. Grant of Authorization: Explicit permission given to the Agent to list and market the property
6. Listing Terms: Specific details about listing price, duration, and any special conditions
7. Marketing Authorization: Permission to use photos, videos, and property information in marketing materials
8. Owner's Representations: Owner's warranties about property ownership and authority to sell
9. Data Privacy Consent: Authorization to collect, process, and share relevant personal information in compliance with the Data Privacy Act
10. Execution: Signature block for all parties
1. Exclusive Listing Rights: Used when the listing arrangement is exclusive to one agent/agency
2. Commission Structure: Include when the release form also covers commission arrangements
3. Property Access Terms: Added when specific protocols for property viewing need to be established
4. Virtual Tour Authorization: Include when virtual tours or 3D scanning will be used in marketing
5. International Marketing: Added when property will be marketed to international buyers
1. Schedule A - Property Details: Detailed property specifications, inclusions, and exclusions
2. Schedule B - Property Images: List of approved photographs and images for marketing use
3. Schedule C - Marketing Plan: Outline of proposed marketing activities and platforms
4. Appendix 1 - Property Title Documents: Copies of relevant property ownership documents
5. Appendix 2 - Agency Authorization: Required real estate service credentials and licenses
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