Sample Listing Agreement Addendum

SAMPLE
Listing Agreement Addendum
for
(Property Address)

This agreement, by and between Agent Name (“Listing Agent”) and Owner Name (“Seller”), owner of the above referenced property, sets forth the understanding by which Listing Agent shall conduct an Online Bidding Program for the property on RealtyBid.com. This agreement shall be attached to and shall become part of the current and active Listing Agreement by and between the Listing Agent and the Seller. The terms of the agreement are as follows:

RealtyBid.com shall be granted an Exclusive Right to Market during the fourteen (14) day timeframe that the property is up for bid on RealtyBid.com. If the property is sold during this timeframe, RealtyBid.com shall be due a fee, as described below, as the procuring cause of the sale.

1. The online bidding process shall begin approximately two business days after the property is loaded into the RealtyBid.com system.
   
   
2. The property shall be sold subject to an undisclosed minimum reserve price. The reserve price shall be programmed into the RealtyBid.com online bidding software. Seller agrees that if the bid price equals or surpasses the reserve price of __________________, the property shall be sold to the high bidder at the conclusion of the online event.
   
   
3. Seller acknowledges that an Opening Bid amount, which shall be less than the reserve price for the property, shall be set for the property. Seller agrees that the Opening Bid amount and the current list price of $________________ may be advertised during the marketing period.
   
   
4. Seller agrees that RealtyBid.com shall be paid a Buyer's Premium (also referred to on RealtyBid.com as an Internet Transaction Fee) of one percent (1%) for the sale of the property. The Buyer's Premium may be added to and shall become part of the total contract price of the property. RealtyBid.com shall be paid its fee at the closing. If a sale is negotiated by the Seller or the Seller's listing agent, separate from the online auction event, but during the exclusive period, Seller agrees to pay RealtyBid.com a withdrawal fee of one percent (1%) of the purchase price. Seller agrees to pay this fee from his proceeds if no Buyer's Premium is collected from the Buyer.
   
   
5. Should the property's reserve price not be met during the fourteen (14) day auction timeframe, RealtyBid.com's exclusivity regarding registered bidders shall extend an additional 30 days after the Exclusive Right to Market has ended. If a RealtyBid.com bidder contracts to purchase the property after the conclusion of the auction but during RealtyBid.com's additional 30 days of exclusivity, that buyer is required to pay the 1% Buyer's Premium to RealtyBid.com.
   
   
6. Seller agrees to pay a fee, as defined in the current listing agreement, to any properly licensed Buyer Broker or Buyer Agent who introduces a buyer to Realtybid.com, represents a buyer during the online bidding process, and/or purchases the property.
   
   
7. It is agreed and understood that RealtyBid.com has not represented that any particular bid or sales price may be achieved and has not warranted that any specific number of bids shall be received.

If this is acceptable to the Seller and the Listing Agent of the Property, please indicate by signing below:

Seller/Owner:
_____________________________
Owner Name, Owner
Date: ________________________

Listing Agent:
_____________________________
Agent Name, Company Name
Date: ________________________