LISTING PROCEDURES:
Section 1- Listing Procedures:
(A) Listings of real or personal property of the following types, which are listed subject to a real estate broker’s license, located within the territorial jurisdiction of the Santa Cruz County Multiple Listing Service taken by Participants on Santa Cruz County Multiple Listing forms shall be entered to the Multiple Listing Service within 48 hours after all necessary signatures of seller(s) have been obtained:
(1) Single family homes for sale or exchange
(2) Vacant lots and acreage for sale or exchange
(3) Two-family, three-family, and four-family residential buildings for sale or exchange
(4) Commercial Buildings and Business Opportunities for sale or exchange
(B) The Multiple Listing Service shall not require a Participant to submit listings on a form other than the form the Participant individually chooses to utilize provided an exclusive right to sell and/or exclusive agency listing agreement is used. A property data form may be required as approved by the Multiple Listing Service. However, the Multiple Listing service, through its legal counsel:
(1) May reserve the right to refuse to accept a listing form which fails to adequately protect the interests of the public and the Participants
(2) Assure that no listing form filed with the Multiple Listing Service establishes, directly or indirectly, any contractual relationship between the Multiple Listing Service and the client (buyer or seller)
(Amended 08/06)
(C) The Multiple Listing Service shall accept exclusive right to sell listing contracts and exclusive agency listing contracts, and may accept other forms of agreement which make it possible for the listing broker to offer compensation to the other Participants of the Multiple Listing Service acting as subagents, buyer agents, or dual agents. The listing agreement must include the seller’s written authorization to submit the agreement to the Multiple Listing Service.
The different types of listing agreements include:
(1) EXCLUSIVE RIGHT TO SELL
(2) EXCLUSIVE AGENCY
(3) OPEN
(4) NET
The Service may not accept net listings because they are deemed unethical and, in most states, illegal. Open listings are not accepted except where required by law because the inherent nature of an open listing is such as to usually not include the authority to cooperate and compensate other brokers and inherently provides a disincentive for cooperation.
(D) The exclusive right to sell listing is the conventional form of listing submitted to the Multiple Listing Service in that the seller authorizes the listing broker to cooperate with and to compensate other brokers.
(E) The exclusive agency listing also authorizes the listing broker, as exclusive agent, to offer cooperation and compensation on blanket unilateral basis, but also reserves to the seller the general right to sell listings with named prospects exempted should be clearly distinguished by a simple designation such as a code or symbol from exclusive right to sell listings with no named prospects exempted, since they can present special risks of procuring cause controversies and administrative problems not posed by exclusive right to sell listings with no named prospects exempted. Care should be exercised to ensure that different codes or symbols are used to denote exclusive agency and exclusive right to sell listings with prospect reservations.
(F) A Multiple Listing Service does not regulate the type of listings its Members may take. This does not mean that a Multiple Listing Service must accept every type of listing. The Multiple Listing Service shall decline to accept open listings (except where acceptance is required by law) and net listings, and it may limit its service to listings of certain kinds of property. But, if it chooses to limit the kind of listings it will accept, it shall leave its Members free to accept such listings to be handled outside the Multiple Listing Service.
A Multiple Listing Service may, as a matter of local option, accept exclusively listed property that is subject to auction. If such listings do not show a listed price, they may be included in a separate section of the MLS compilation of current listings.
(G) The Service may request the Participant to supply to the Service a copy of the Employment Agreement and a copy of Listing Data form to verify accuracy of the submitted information. Upon request, the Participant will have one business day to submit the requested documents. If information is found to be inaccurate, the Participant will be notified and will have one business day to correct the information or the listing will be deleted.
(H) TYPES OF PROPERTIES: Following are some of the types of properties that may be published through the Service, including types described in the preceding paragraph that are required to be filed with the Service and other types that may be filed with the Service at the Participant’s option provided, however, that any listing submitted is entered into within the scope of the Participant’s licensure as a real estate broker:
(1) Residential
(2) Residential income
(3) Subdivided vacant lot
(4) Land and ranch
(5) Business opportunity
(6) Motel- hotel
(7) Mobile homes
(8) Mobile home parks
(9) Commercial income
(10) Industrial
Section 1.1- Listings Subject to Rules and Regulations of the Service: Any listing taken on a contract to be filed with the Multiple Listing service is subject to the rules and regulations of the Service upon signature of the seller(s).
Section 1.2- Detail on Listings Filed with the Service: A listing agreement or property data form, when filed with the Multiple Listing Service by the listing broker, shall be complete in every detail which is ascertainable as specified on the property data form.
Section 1.3- Photo: When entering a MLS listing a primary photo is required for all classes (Residential, New Construction, Multi- Family, Commercial, Farm and Ranch) except Vacant Land. For new construction you can use a photo of lot with building permit, picture with under construction banner, footprint, contractor name & business card. When the new construction has 4 walls and a roof please input new photo showing this. If a photo is not inputted when MLS listing is inputted a written notice will be sent to agent and Designated REALTOR® giving them 48 hours to input photo in listing. (Amended 09/06)
Section 1.4- Delayed/ Exempt Listings:
If the seller(s) requests that the input of the listing be delayed for any reason, an Exempt/Delayed Input Listing Form must be completed, signed, and placed on file with the Listing Broker and MLS service within two (2) business days of its signing by seller(s).
If the seller refuses to permit the listing to be disseminated by the Service, the Participant may then take the listing (“office exclusive”). Exempt listing shall be accompanied by certification signed by the seller that he does not want the listing to be disseminated by the Service and shall be filed with the Listing Broker and the MLS Service within two (2) business days of its signing by seller(s).
(A) For Comps Only: When information is input which is for comps only, the information given shall be the same as for all other listings. Participants are encouraged to add these listings upon closing to assist all Subscribers in market analysis information.
Section 1.5- Change of Status of Listing: Any change in listed price or other change in the original listing agreement shall be made only when authorized in writing by the seller and shall be posted within 48 hours (excepting weekends, holidays, and postal holidays) after the authorized change is received by the listing broker.
Section 1.6- Withdrawal of Listing Prior to Expiration: Listings of property may be withdrawn from the Multiple Listing Service by the listing broker before the expiration date of the listing agreement, provided notice is posted with the Service that written authorization is in possession of listing broker.
Sellers do not have the unilateral right to require an MLS to withdraw a listing without the listing broker’s concurrence. However, when a seller(s) can document that his exclusive relationship with the listing broker has been terminated, the Multiple Listing Service may remove the listing at the request of the seller.
Section 1.7- Contingencies Applicable to Listings: Any contingency or conditions of any term in a listing shall be specified and noticed to the Participants.
Section 1.8- Listing Price Specified: The full gross listing price stated in the listing contract will be included in the information published in the MLS compilation of current listings, unless the property is subject to auction.
Section 1.9- Listing Multiple Unit Properties: All properties which are to be sold or which may be sold separately must be indicated individually in the listing and on the property data form. When part of a listed property has been sold, proper notification should be given to the Multiple Listing Service.
Section 1.10- No Control of Commission Rates or Fees Charged by Participants: The Multiple Listing Service shall not fix, control, recommend, suggest, or maintain commission rates or fees for services to be rendered by Participants. Further, the Multiple Listing Service shall not fix, control, recommend, suggest, or maintain the division of commissions or fees between cooperating Participants or between Participants and nonparticipants.
Section 1.11- Expiration, Extension, and Renewal of Listings: Listings filed with the Multiple Listing Service will automatically be removed from the compilation of current listings on the expiration date specified in the agreement, unless prior to that date the MLS receives notice that the listing has been extended or renewed.
If notice of renewal or extension is received after the listing has been removed from the compilation of current listings, the extension or renewal will be published in the same manner as a new listing. Extensions and renewals of listings must be signed by the seller(s) and filed with the Service. (Amended 08/06)
Section 1.12- Termination Date of Listings: Listings filed with the Service shall bear a definite and final termination date, as negotiated between the listing broker and the seller.
Section 1.13- Jurisdiction: Only listings of the designated types of property located within the jurisdiction of the MLS are required to be submitted to the Service. Listings of property located outside the MLS’s jurisdiction will be accepted if submitted voluntarily by a Participant, but cannot be required by the Service.
Section 1.14- Listings of Suspended Participants: When a Participant of the Service is suspended from the MLS for failing to abide by a membership duty (i.e., violation of the Code of Ethics, Board bylaws, MLS bylaws, MLS rules and regulations, or other membership obligation except failure to pay appropriate dues, fees, or charges), all listings currently filed with the MLS by the suspended Participant shall, at the Participant’s option, be retained in the Service until sold, withdrawn or expired, and shall not be renewed or extended by the MLS beyond the termination date of the listing agreement in effect when the suspension became effective. If a Participant has been suspended from the Board (except where MLS participation without Board membership is permitted by law) or MLS (or both) for failure to pay appropriate dues, fees, or charges, a Board MLS is not obligated to provide MLS services, including continued inclusion of the suspended Participant’s listings in the MLS compilation of current listing information. Prior to any removal of a suspended Participant’s listings from the MLS, the suspended Participant should be advised, in writing, of the intended removal so that the suspended Participant may advise his clients.
Section 1.15- Listings of Expelled Participants: When a Participant of the Service is expelled from the MLS for failing to abide by a membership duty (i.e., violation of the Code of Ethics, Board bylaws, MLS bylaws, MLS rules and regulations, or other membership obligations except failure to pay appropriate dues, fees, or charges), all listings currently filed with the MLS shall, at the expelled Participant’s option, be retained in the Service until sold, withdrawn or expired, and shall not be renewed or extended by the MLS beyond the termination date of the listing agreement in effect when the expulsion became effective. If a Participant has been expelled from the Board (except where MLS participation without Board membership is permitted by law) or MLS (or both) for failure to pay appropriate dues, fee, or charges, a Board MLS is not obligated to provide MLS services, including continued inclusion of the expelled Participant’s listings in the MLS compilation of current listing information. Prior to any removal of an expelled Participant’s listings from the MLS, the expelled Participant should be advised, in writing, of the intended removal so that the expelled Participant may advise his clients.
Section 1.16- Listings of Resigned Participants: When a Participant resigns from the MLS, the MLS is not obligated to provide services, including continued inclusion of the resigned Participant’s listings in the MLS compilation of current listing information. Prior to any removal of a resigned Participant’s listings from the MLS, the resigned Participant should be advised, in writing, of the intended removal so that the resigned Participant may advise his clients.
