The Listing Contract Addendum is a crucial document in U.S. real estate transactions when circumstances require modifications to an original listing agreement. It's commonly used when market conditions change, when adjusting property prices, extending listing periods, or updating marketing strategies. The addendum must adhere to both federal and state-specific real estate laws and typically requires signatures from all parties involved in the original agreement. This document helps maintain legal clarity while allowing flexibility in the listing relationship, ensuring all changes are properly documented and agreed upon.
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1. Original Agreement Reference: Section identifying and incorporating the original listing agreement being modified, including date and parties
2. Property Identification: Detailed description of the property subject to the listing agreement, including address and legal description
3. Modification Details: Specific changes or additions to the original agreement, clearly stating what terms are being modified
4. Acknowledgment: Statement confirming that all other terms of the original agreement remain in full force and effect
5. Signatures: Execution block for all parties to sign and date the addendum
1. Price Modification: Section detailing changes to the original listing price and effective date of the price change
2. Term Extension: Section specifying any changes to the duration of the listing agreement, including new expiration date
3. Commission Adjustment: Section outlining any modifications to the commission structure or terms of payment
4. Property Description Update: Section documenting any changes to property features, condition, or included items
1. Updated Property Photos: Schedule containing new or additional photographs of the property
2. Modified Marketing Plan: Schedule detailing revised marketing strategy, activities, and timeline
3. Updated Price Analysis: Schedule containing new comparative market analysis or pricing justification documentation
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