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 the MLS Listing Input Forms
shall be entered to MLS system within (2) business days after RECEIPT of its
signed listing from Seller(s).
(1) Single family homes for sale, lease or exchange
(2) Vacant lots and acreage for sale, lease or exchange
(3) Two-family,
three-family, and four-family residential buildings for sale, lease, or
exchange
(4)
(B) MLS 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
MLS. However, the MLS, 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 MLS establishes, directly or indirectly, any
contractual relationship between the MLS and the client (Buyer or Seller).
(C) MLS 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 MLS acting as subagents, Buyer
agents, or dual agents. The listing agreement must include the Seller’s written
authorization to submit the agreement to the MLS.
The different types of listing
agreements include:
(1) EXCLUSIVE
RIGHT TO SELL
(2) EXCLUSIVE
AGENCY
(3) LIMITED
SERVICE
(4) OPEN
(5) NET
SCCMLS 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) EXCLUSIVE RIGHT TO SELL LISTINGS: The Exclusive
Right To Sell listing is the conventional form of listing submitted to the MLS
in that the Seller authorizes the listing broker to cooperate with and to
compensate other brokers.
(E) EXCLUSIVE AGENCY LISTING: 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) LIMITED SERVICE LISTING: The Limited Service listing is essentially when the Seller is
representing themselves and pursuant to which the Seller’s broker will not be
present to negotiate the offer, and agrees that all offers will be presented
and negotiated by the Buyer’s directly with the Seller. The Seller will offer
cooperation and compensation and the Listing Subscriber shall disclose the
limited service to Subscribers and Sellers in the following manner:
(A) Limited Service Listings will be identified by the comments “Limited
Service Listing” in the first line of Agent Only Remarks with instructions to
the cooperating broker so they will be aware of the extent of the services the
listing broker will provide.
(B) Limited Service listing agreements guidelines under which the listing broker will not provide one, or more, of the following services:
(1) Arrange appointments for cooperating brokers to show
listed property to potential purchasers but instead gives cooperating brokers
authority to make such appointments directly with the Seller(s);
(2) Accept and present to the Seller(s) offers to purchase
procured by cooperating brokers but instead gives cooperating brokers authority
to present offers to purchase directly to the Seller(s);
(3) Advise the Seller(s) as to the merits of offers to
purchase;
(4) Assist the Seller(s) in developing, communicating, or
presenting counter-offers; or (e) Participate on the Seller(s) behalf in
negotiations leading to the sale of the listed property;
(G) OPEN OR NET LISTINGS: MLS does not
regulate the type of listings its Members may take. This does not mean that a
MLS must accept every type of listing. The MLS 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.
(H)
LISTINGS SUBJECT TO AUCTION: A MLS 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.
(I) ACCURACY VERIFICATION: SCCMLS may
request the Participant to supply to SCCMLS a copy of the Employment Agreement
and a copy of MLS Listing Input 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.
(J) TYPES OF PROPERTIES: Following
are some of the types of properties that may be published through SCCMLS,
including types described in the preceding paragraph that are required to be
filed with SCCMLS and other types that may be filed with SCCMLS at the
Participant’s option provided, however, that any listing submitted is entered
into within the scope of SCCMLS 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
SCCMLS:
The SCCMLS has the right to accept or reject specific information
on a listing. Any listing
taken on a contract to be filed with the MLS is subject to the Rules and
Regulations of SCCMLS upon signature of the Seller(s).
Section 1.2 – Required Detail on Listings Filed with SCCMLS:
A listing agreement or property data
form, when filed with the MLS by the listing broker, shall be complete in every
required detail fields which are the components highlighted in “pink” or “red”
in the MLS system.
(A) The Policies that govern the information that can be contained in the Listing are found in the SCCMLS Do’s and
Don’t Policy. A copy of this Policy can be found
on the MLS system Daily Functions component and the SCCBR website (www.sccazrealtor.com).
(B) Detailed
information on Listings shall be accurate and factual at all times, whether the
Listing status is active, expired, canceled, temporarily-off-market, sold,
pending sale, or any other status.
(C) Subscriber shall obtain written approval from Seller on any listing changes.
(D)
Violation of these Rules will be subject to a penalty pursuant to Section 7.
Section
1.3 – Photographs and Media:
By the act of submitting any photograph to the MLS system, the
Listing Subscriber is granting authorization of copyright to SCCMLS pursuant to
Section 11. The copyright symbol SCCMLS watermark will be displayed on all photos.
In the event the Listing Subscriber receives a photo
violation the Listing Subscriber has two (2) business days to correct violation
by deleting photo(s), or crop photo(s), to be in compliance with Rules until
time permits for Listing Subscriber to retake photo of property.
For the benefit of all Subscribers,
Listings are sent to customers and clients of Subscribers and participants. The
intention of this rule is to preclude contact information of any kind within
the display of the Listing. Items that do not convey specific contact
information will be allowed so long as they comply with the intent of this
rule.
(A) Unless specifically directed otherwise in writing by the
seller, all MLS listings require a primary
photo for all classes except vacant land.
(B) In the event a Seller’s written instructions preclude Listing Subscriber from uploading photographs of the premises into
the MLS system, the Listing Subscriber shall upload a “No Photo Provided”
graphic image. The only MLS approved “No Photo Provided” graphic image
shall be retrievable through the MLS system, Daily Functions/MLS
Intranet/Architecture Photos.
(C) If
only one photo will be uploaded when entering a MLS listing a property’s
exterior front view primary photo is required at time of activating listing for
all classes except vacant land.
(D) If multiple photos are uploaded for the listing then the property’s
exterior front view must be within the first (5) five sequential photos in
attempt to assist Subscribers who may need to pull photo for a home evaluation.
(E) Photographs may only depict the physical traits of the property
for sale, any existing structures on that property, its vicinity or location.
(F) Photos must also comply with State and Federal law in all matters
relating to the advertisement and sale of real property.
(G) Photos with watermarks from other MLS’s shall need to be cropped
out before uploading in the MLS system as a means to abide with copyright laws.
(H) Ariel photos depicting property is encouraged however satellite
imagery such as Google Earth is not allowed to be uploaded in MLS system.
(I)
Human being(s) in photos shall need to be cropped out before uploading in the
MLS system.
(J) Photos
depicting livestock and/or domestic animals are permissible when present at the
property for sale.
(K)
Photos with URL links, borders, banners, graphics, writing, logos, or contact
information (for sale signs) are NOT allowed to be uploaded in the MLS system.
(L) Dates in photos shall need to be cropped out before uploading in
the MLS system as a means to not release privately viewable Days on Market.
(M) Photo enhancements are only acceptable by editing a
photo for the following purposes; saturation of color, brightness &
contrast, and cropping of size.
(N) If the home is currently under construction or the lot is meant
for the construction of a single family home following imagery is permissible
of the home being built or to be built:
(1) The photo may show
an un-enhanced artist’s rendering.
(2) Or, an actual floor plan.
(3) If an artist’s rendering is used in the advertisement, the
advertisement shall have a banner on the photograph with the following words:
“Artist Rendering Only”.
(O) After uploading photos verify that photo(s) are not blurry or the
size of the photo is not small. If this happens, Subscriber will need to resize
and sharpen photos and re-upload in MLS system.
(P) In the event the property’s exterior front view primary photograph is obstructed by a
moveable object Subscriber shall have a grace period of ten (10) business days
to correct photograph.
(Q) Media such as videos and virtual tours, including but not
limited to photographs, floor plans, electronic files and embedded files of any
format, rendering, and mortgage calculators are allowed to be part of or an
addendum to a Listing.
(1) Both branded and un-branded Media is allowed to be linked to an
outside third-party and/or embedded in the MLS system by an outside
third-party’s script.
(2) MLS system settings only allow unbranded videos and virtual tours on public web sites and
in e-mailed links.
(R) Violation of
these Rules will be subject to a penalty pursuant to Section 7.
Note: MLS recommends for Listing Subscribers to take multiple
photos in different angles and camera settings to be able to pick and choose
the best pictures to upload in the MLS system.
Note: Photos taken with following: Dates, For Sale Signs, Sign-In
sheets, Keysafe/Lockbox & Keybox are encouraged to be filed internally with
listing agreement as a means to record what the home looked liked at the time
of taking the listing and/or when listing materials were placed at the
property.
Note: Do’s and Don’ts Policy for photo compliance and photo manual can
be found through the MLS system in Daily Functions and how to crop photos can
be found through the MLS system “Links” component.
Section 1.4 - Delayed/Exempt Listings:
If the Seller(s) requests that the input
of the listing be delayed for any reason, an MLS Exempt Input Listing Form must
be completed, signed, and placed on file with the Listing Broker and MLS
service within two (2) business days after RECEIPT of its signing from Seller(s).
If the Seller refuses to permit the listing to be disseminated by SCCMLS, 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
SCCMLS and shall be filed with the Listing Broker and MLS within two (2)
business days of after RECEIPT its
signing from Seller(s) (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.
“For
Comps Only”, must be disclosed in REALTOR® Remarks.
(B)
Violation of these Rules will be subject to a penalty pursuant to Section 7.
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 (2) business days after the
authorized change is received by the listing broker.
(A) Any newly activated listing with a Pending Status shall be specified and
noticed to the Participants. A pending status is not allowed to be inputted
when activating a listing until two (2) business days have lapsed or have a
written consent certification from Seller(s) prior to inputting listing.
(B) MLS Exempt Input Listing Form: If the Seller(s) requests that the
input of the listing be with a Pending Status for any reason at time of
activating the listing, an MLS Exempt Input Listing Form must be completed,
signed, and placed on file with the Listing Broker and MLS service within two
(2) business days after RECEIPT of its signing from Seller(s) prior to
inputting listing.
(C)
Any listing with a “Temp off Market” status shall continue to
accumulate the Days on Market. It is recommended for the Listing Subscriber to
only utilize “Temp off Market” status for a grace period of 30 days as a means
to resolve a temporary concern attributed to the property or Seller has
requested the property not to be shown temporarily.
(D) MLS Status & Contingency Change Form: If a status of a listing needs to be
modified, the Status & Contingency Change Form or any other
written authorization/documentation must be completed, signed, and placed on file with
the Listing Participant within two (2) business days after RECEIPT of its
signing from Seller(s).
(E)
Violation of these Rules will be subject to a penalty pursuant to Section 7.
Section 1.6 - Withdrawal of Listing Prior to Expiration:
Listings of property may be withdrawn
from the MLS by the listing broker before the expiration date of the listing
agreement, provided notice is posted with SCCMLS 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 MLS 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.
(A) Any contingency on a newly activated listing shall be specified and
noticed to the Participants. A Contingency is not allowed to be inputted when
activating a listing until two (2) business days have lapsed or have a written
consent certification by Seller prior to inputting listing.
(B) MLS Exempt Input Listing Form: If the Seller(s) requests that the
input of the listing be with a contingency for any reason at time of activating
the listing, an MLS Exempt Input Listing Form must be completed, signed, and
placed on file with the Listing Broker and SCCMLS within
two (2) business days after RECEIPT of its signing from Seller(s) prior to
inputting listing.
(C) An Active Listing is only allowed to display the following
contingencies:
(1) Auction-Offers Only by Bid
(2) Short Sale Approval Pending
(3) Signature Pending
(4) Back-up Offers Being Accepted
(D) In addition, the Signature Pending contingency on an Active Listing may
not exceed (10) ten business days from when the contingency was posted.
Note: The Participant may ask for an extension by a
written request to the MLS for what ever reason.
(E) A Pending Listing is only allowed to
display the following contingencies:
(1) Back-up Offers Being Accepted
(2) Contingent Offer
(3) Lease Purchase
(4) No Back-up Offers Being Accepted
(F) A Sold Listing is not allowed to display a
contingency.
(G) MLS Status &
Contingency Change Form: If an active or pending listing needs to be adjoined
with a contingency for whatever reason, the Status & Contingency Change
Form or any other written authorization/documentation must be completed, signed, and placed on
file with the Listing Participant within two (2) business days after RECEIPT of
its signing from Seller(s).
(H) Violation of these Rules will be
subject to a penalty pursuant to Section 7.
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. If a property will only be
sold by auction, the Listing must state whether the Listing has a reserve price
or that the property will be sold at auction without reserve.
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
MLS.
Section 1.10 - No Control of Commission Rates or Fees
Charged by Participants:
The MLS shall not fix, control,
recommend, suggest, or maintain commission rates or fees for services to be
rendered by Participants. Further, the
MLS shall not fix, control, recommend, suggest, or maintain the division of
commissions or fees between cooperating Participants or between Participants
and Non-Participants.
Section 1.11 - Expiration, Extension, and Renewal of
Listings:
Listings
filed with the MLS 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.
(A) If a listing has expired, and is still
within the thirty (30) days grace period, the Listing Subscriber shall be able
to re-activate and extend a listing’s expiration date in the MLS system. If notice of
renewal or extension is received after the listing has been removed from the
compilation of current listings, but still within the grace period, the
extension or renewal will be published as previously entered with the addition
of current status and new expiration date.
(B) Days on Market (DOM) shall be disclosed in the MLS system in the following manner:
(1) If listing is re-activated within the
thirty (30) days grace period the DOM will continue with the cumulative
calculation.
(2) If listing is re-activated within ninety
(90) days of expiration period the DOM will continue with the cumulative
calculation.
(3) If listing is brought back to the
market after 90 days, by the same Listing Participant, the DOM will be
calculated as if the listing was new.
(C)
MLS Status & Contingency Change Form: If a listing has expired and is still
within the thirty (30) days grace period, the Status & Contingency Change
Form or any other written authorization and/or documentation must be completed, signed, and placed on
file with the Listing Participant within two (2) business days after RECEIPT of
its signing from Seller(s).
(D) In the event a listing needs to be
re-activated in the MLS system after the 30 days grace period has passed the
Listing Subscriber shall re-activate the listing by copying the expired listing
to display a new listing or enter as a new listing.
(E) In the event a listing is with “Pending
Status”, Listing Subscriber shall be responsible in extending the expiration
date past the recordation date to be able to change listing to a “Closed
Status”.
(F) A listing’s expiration date is only
viewable by the Listing Participant and/or Listing Subscriber.
Section 1.12 - Termination Date of Listings:
Listings filed with SCCMLS shall bear a
definite and final termination date, as negotiated between the listing broker
and the Seller.
Only listings of the designated types
of property located within the jurisdiction of the MLS are required to be
submitted to SCCMLS. Listings of
property located outside the MLS’s jurisdiction will be accepted if submitted
voluntarily by a Participant, but cannot be required by SCCMLS.
Section 1.14 - Listings of Suspended Participants:
When a Participant of SCCMLS 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 SCCMLS 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 MLS is
expelled from SCCMLS 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 MLS 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.
Section 1.17 – Short Sale Listings:
As used in these Rules, short sales are defined as a transaction
where title transfers; where the sale price is insufficient to pay the total of
all liens and costs of sale; and where the Seller does not bring sufficient
liquid assets to the closing to cure all deficiencies.
(A) Listing Subscriber is required to disclose potential short sales
to other Subscribers by stating the following in the REALTOR® Remarks:
Potential Short Sale.
(B) MLS Participants who participate in the sale of short sale
listings acknowledge that commissions may be subject to Seller’s contingency of
lender’s Short Sale approval. Therefore, the amount of the selling office
commission may be different than what is originally published as co-op in the
MLS and consequently may need to be negotiated outside of the MLS between
Participants before escrow is opened. Listing Subscriber shall disclose
commission in the following manner:
(1) By
selecting the “Percent of Net” field at the time of publishing the listing in the
MLS system.
(C) Disclosure of a Potential Short Sale and any Special Condition to
the property shall not be made in the Property Remarks or Marketing
Name.
(D) Disclosure of a short
sale shall be stated in the publicly viewable Special Conditions component by
noting Potential Short Sale and any other pertinent property disclosure that
may be applicable to the transaction:
(1) AS-IS; if Seller is not able to make repairs to property.
(2) NO SPDS; if Seller is not providing a Seller’s Property
Disclosure Statement.
(3) Pre-Foreclosure; if Seller is delinquent on a mortgage
payment.
(4) No Home Warranty; if Seller is not going to pay for a
warranty.
(E) Listing Subscriber
shall provide to client the Short Sale Addendum to Listing Contract and the Short
Sale Seller Advisory provided by the Arizona Association of REALTORS® and have
signed originals/copies by the Seller on file.
(F) It is recommended that
the Listing Subscriber adjoins “Back-up Offers being Accepted” at the time of
publishing a Short Sale Listing.
(G) Listing Subscriber
shall disclose to Cooperating Subscriber(s) that offer(s) are contingent upon
an acceptable short sale agreement by the delivery of the AAR’s Short Sale
Addendum to Purchase Contract; as to nothing shall limit a Seller from
accepting subsequent offers from subsequent Buyer(s) in submitting back-up
offers to Seller’s creditor(s) for consideration.
(H) Within two (2)
business days of Seller’s acceptance of a written contract, however, Seller is
still waiting for bank/lender to approve the loan’s short fall. Listing
Subscriber shall disclose to the MLS Subscribers in the following manner if an
offer and/or any back-up offers have been accepted by the Seller:
(1) The listing status in
the MLS shall remain “Active”.
(2) Will adjoin the
contingency “Short Sale Approval Pending”.
(I) In the event multiple offers are
accepted, it is recommended for Listing Subscriber to instruct Cooperating
Subscriber what position the offer is in by adding appropriate verbiage in the
submitted offer.
(J) It is NOT recommended to open escrow if
the “Agreement Notice” has not been delivered from the Seller to potential
Buyer.
(K) Violation of these Rules will be
subject to a penalty pursuant to Section 7.
Section 1.18 – REO/Bank Owned Property Listings:
As used in these Rules, REO/Bank Owned Properties are defined as a
property owned by lender/bank
also known as a REO, an acronym for “real estate owned.” This refers to
property that has come into the possession of a bank or lender, usually through
the foreclosure process.
(A) Listing Subscriber is required to disclose the ownership as
REO/Bank, as a privately viewable component, to other participants by selecting
the appropriate ownership along with but not required to state the following in
the REALTOR® Remarks: REO/Bank Property
(B) Disclosure of a REO/Bank Property and any Special Condition to
the property shall not be made in the Property Remarks or Marketing Name.
(C) Disclosures shall be
stated in the publicly viewable component Special Conditions:
(1) Missing mechanical(s), if property is missing
heating/cooling and/or water heater.
(2) AS-IS, if Seller is not able to make repairs and property
is being sold (AS-IS)
(3) NO SPDS, if Seller is
not providing a Property Disclosure Statement.
(D) Listing Subscriber
shall disclose to Participants the grace period of when an offer can be
submitted to the REO/Bank Owned Property’s internet website system by
disclosing in an MLS system DATE field;
(1) Opening date for offers to be allowed to be submitted by
an Owner/Occupant.
(2)
Opening date for offers to be allowed to be submitted by an Investor.
(E) Listing Subscriber
shall notify Participants and Public in the following manner by disclosing
Terms and Auction information through the Supplement and/or Document Upload
components of the MLS system as to the following.
(1) A URL link with
instructions and clear financing terms information.
(2) Special Conditions
will be disclosed by selecting “See Supplement” and/or “See Document and
entering in the appropriate field box “Terms Info or “Auction Info”.
(3) In the event property is subject to an Auction, refer to
Section 1.19 Auction Rules.
(F) Listing Subscriber may
include the following information in REALTOR® Remarks as to the following:
(1) A URL link to submit all offers.
(2) How many days to allow for the Sellers’ reply to an offer.
(3) Any other pertinent information to ease the flow of
submitting an offer.
(G) Within two (2)
business days of Seller’s acceptance of a written contract, SCCMLS recommends
for the Listing Subscriber to change the REO/Bank listing’s status in MLS to
“Pending” with the contingency “Back-up Offers Being Accepted” until inspection
period has been completed.
(H) Listing Subscriber shall be responsible in
notifying the Seller(s) of a REO/Bank Property of the Rules and Regulation of
SCCMLS pertaining to REO/Bank Property listings.
(I) SCCMLS recommends for
Participants to have appropriate Errors and Omissions insurance pertaining to
REO/Bank Properties and should consider general liability insurance as well.
(J) SCCMLS recommends for
the Listing Broker working with a REO/Bank Property to alert the lender of
following requirements with governmental Disclosure Laws:
(1) The Department of Real
Estate; When a lender forecloses on the sixth property (or forecloses on six or
more properties) in a subdivision, the lender is a subdivider and must obtain a
Public Report before offering the properties for sale. ADRE released a
Substantive Policy Statement No. 2008.02 (SPS), in an effort to create
expediency in these cases.
(2) The Arizona Department
of Environmental Quality (ADEQ); When the REO is listed for sale after the
foreclosure, the lender is required to obtain a septic inspection and the Buyer
is required to file a Notice of Transfer form at close of escrow.
(3) A Seller of five or
fewer parcels of land in an unincorporated area of a county, other than
subdivided land, is required to furnish a written Affidavit of Disclosure to
the Buyer at least seven days before the transfer of the property. A.R.S.
§33-422. When selling an REO after foreclosure in an unincorporated area of the
county that is not in a subdivision, the lender-Seller must provide the Buyer
with an Affidavit of Disclosure. The Affidavit must be recorded at close of
escrow.
(4) Lead Base Paint
Disclosure; When the lender becomes the owner at the trustee’s sale, the lender
is required to comply with the lead-based paint disclosure law when they sell
the REO. Thus, the lead-based paint disclosure exemption applies to the
trustee’s sale, but not to the sale of the REO acquired through foreclosure.
(K) Listing Subscriber
shall be in accordance with Showings (Section 2) Listing Status (Section 1.5, (A) & (B)),
Listing Contingency (Section 1.7, (A) & (B)), REO/Bank Owned Property Listings (Section 1.18), MLS Not Responsible for Accuracy of
Information (Section 10.1), Right
of Cooperating Broker in Presentation of Offer (Section 2.3 (A)),
Reporting Closed Sales (Section 2.5) & and Keysafe/Lockbox Systems/Keys
(Section 21), and any other Rules herein.
(L) Violation of these
Rules will be subject to penalty pursuant to Section 7.
Section 1.19 –
Listings Subject to Auction:
In the event the
property is subject to auction, Listing Subscriber shall notify Subscribers in
the following manner by disclosing information through the Supplement and/or
Document Upload component of the MLS system as to the following.
(1) The
Listing must state whether the Listing has a reserve price;
(2) or,
if the property will be sold at auction without reserve.
(3) A
URL link to submit an online bid with clear instructions
(4)
Shall adjoin “Auction-Offer Only Accepted by Bid” as a contingency to an Active
status listing.
(5) Special
Conditions must be disclosed by selecting “Auction” & date”.
(6) Special Conditions
will be disclosed by selecting “See Supplement” and/or “See Document and
entering in the appropriate field box “Auction Info”.
(7)
Special Conditions shall also be disclosed for AS-IS & NO SPDS if
applicable.
(A) If property is sold at auction
the Listing Subscriber shall select “Auction” as “Hold Sold” when processing
closing information.
(B) Violation of these Rules will be
subject to a penalty pursuant to Section 7.
Section 1.20 – New Construction Listings:
As used in these Rules, New Construction
listings are defined as a property built by a licensed residential contractor. A
new home seller/builder is held to impliedly warrant that the construction has
been done in a workmanlike manner and that the home is habitable. This refers to a residential property where as the licensed
contractor is required to repair/correct construction items which fall under
the Arizona Register of Contractors Workmanship Standards RULE 4-9-108 for the
first 2 years from when the residential property closed escrow, when the buyer occupies the structure, or the date of discovery,
whichever occurs first or as otherwise noted.
(A) The
Listing Subscriber shall disclose New Construction in the MLS System in the
following manner:
(1) Builder Name
(2) Restricted Access
(3) Construction Phase
(4) Estimated Completion Date
(5) Builders ROC License #
(6) Certificate of Occupancy
(7) Public Report Name if applicable
(B) The “Home Warranty” shall be disclosed as “Builder 2 Year
Warranty” & “5 Year Termite”, unless otherwise noted in listing agreement,
and at the Seller’s discretion may offer the Buyer a “New Construction 2/10
Warranty”.
(C) In
the event, the New Construction property was constructed by a “Licensed
Contractor” but to who no longer has an active license, or has gone out of
business, or property has been foreclosed by the “Investor”. The Listing
Subscriber shall still be able to categorize the property as “New Construction”
in “Dwelling Type” however following conditions must be met and/or disclosed in
the following manner:
(1) The new Builder Name and ROC # License will be disclosed if the Seller
rehires a licensed residential contractor to finish the construction of the
property and the licensed residential contractor is held to impliedly warrant that the construction has been done
in a workmanlike manner and that the home is habitable.
(2) Or, the Builder Name and ROC License # will be disclosed as “See
Special Conditions” and cross-referenced with “Builder License Inactive” in
“Special Conditions” and “No Builder Warranty” in “Home Warranty”.
(D) In
the event, the New Construction property is being sold as an “Unfinished
Construction”. The Listing Subscriber shall disclose all applicable special
conditions in the MLS in the following manner:
(1) Special Conditions shall be disclosed
as “Unfinished Construction” and “Property sold AS-IS”.
(E) In
the event, the New Construction property was constructed by an “Owner Builder”.
The Listing Subscriber shall not be able to categorize the property as
“New Construction” in “Dwelling Type”. Nor, will the listing be allowed to be
published in the MLS system, if not in compliance with local permit and
building codes and/or requirements in which ROC Statues are defined in
Section 33-1002 as to law preventing a property owner from transferring or
renting property when certain conditions are not met to the following:
(1)
The structure can not be intended for
sale or rent for a period of at least one year from the date of completion or
issuance of a certificate of occupancy.
(F) SCCMLS
recommends for the Listing Subscriber working with a New Construction Property
to alert the Seller of the following governmental Disclosure Laws and disclose
documentation to Subscribers if applicable:
(1)
A printout of the Builder’s active ROC license number
(2)
Certificate of
Occupancy
(3)
Any lien releases in order to close escrow
(4)
RULE 4-9-108 - Workmanship Standards Pamphlet
(5)
A.R.S. §32-2183(F) - The Subdivision Disclosure Report (public report)
(6)
Septic
certification in reference to approved plans by ADEQ.
(7)
Termite
Warranty for treatments made before or during construction for a period of 5
years.
(8)
A.R.S. §33-422 - The Affidavit of Disclosure
for an unincorporated area of the county that is not in a subdivision.
(G) Offers
for a New Construction Property shall be submitted in the approved
Note: MLS system requirements and
recommendations do not preclude Seller from avoiding any legal matters that may
arise from not being in compliance with the Arizona Register of Contractors.
Note: The website link for the Rules,
Regulations and Statues for the Arizona Register of Contractors is located
through the MLS system “Links” component under AZ ROC – Rules, Regulations,
& Statues.
(H) Violation of these Rules will be
subject to a penalty pursuant to Section 7.
Section 1.21 – Rental/Lease Listings:
As used in these
Rules, Listings for
(1) Residential Sales and Multi-Dwelling Sales shall be
cross-referenced with Residential Rentals.
(2)
Commercial Sales shall be cross-referenced with Commercial Leases.
(A) Disclosure of a
property also for rent in the Listings for
(1) “Also for Rent” is ONLY allowed to be noted through
“Terms” in Listings for Sales.
(2) NO disclosure allowed in Property Remarks in reference to
“Also for Rent” unless the Rental information is an aspect/attribute of the
property for sale.
(3) If disclosing “Also for Rent” in Listings for
(4) If property is rented yet still continues to be published
in Residential Sales the Listing Subscriber shall change occupancy to “Tenant”
and remove reference to “Also for Rent” in Terms.
(5) “Showing Instructions” shall disclose “Prior 2 Day Notice”
and any other showing instructions at Listing Subscribers discretion.
(B)
In the event, a Seller
for a Listing for Sale has accepted a Rental or Lease Agreement, with or
without a Lease Purchase or an Option to Buy, and did not open escrow,
the Listing Subscriber shall change the status of the listing to “Canceled”.
(1) In addition to canceling the Listing,
the Listing shall be published and closed (Rented Out) in “Residential Rental
Properties” as a means to provide comparables.
(C) In the event the canceled listing needs
to be re-activated in the MLS system after the Rental/Lease has expired the
Listing Subscriber shall re-activate the listing by copying the canceled
listing to display a new listing or enter as a new listing.
(D) It is
recommended for the Listing Subscriber to disclose in order to comply with the
following governmental Disclosure Laws to both parties to the rental/lease
agreement and to inform potential Tenants of who will be handling the property
management aspect of the property:
(1) The Landlord and Tenant Act may be
retrievable through the MLS system “Links” component.
(2) Listing
Subscriber shall disclose, if applicable, he/she is only the felicitator of the
Rental/Lease agreement and shall not receive moneys from Tenants.
(E)
Violation of these Rules will be subject to a penalty pursuant to Section 7.
Section 1.22 – Disclosure Addendum to Listing:
The listing Supplement
component and Document Upload component in the MLS system are recommended as a
means for the Listing Subscriber to provide full disclosure to Subscribers
where as a data field may have not been sufficient enough to divulge
information pertaining to the listing.
(A) The supplemental
information and the uploaded disclosure document are BOTH considered privately
viewable information and do not disseminate to public websites.
(1) The information of
the Supplement is not allowed to be printed or emailed from the MLS
system.
(2) The information of an
uploaded Document is allowed to be printed or emailed from the MLS
system only when the document is required as means to disclose to potential
Buyer when making an offer.
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SANTA CRUZ COUNTY MULTIPLE LISTING SERVICE - WWW.SCCAZMLS.COM
1103 CIRCULO MERCADO #B • RIO RICO, AZ 85648
SANTA CRUZ COUNTY BOARD OF REALTORS® • PHONE: (520) 377-9613 & FAX: (520) 377-9614
EMAIL: COBOARDOFREALTOR@QWESTOFFICE.NET
