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Article 5.15: Commission and Division of Commission

Posted by MFRMLS Wed, 13 Apr 2011 21:03:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 15: Commission and Division of Commission.
Under the long-established policy of MFRMLS and the National and Florida Association of REALTORS®, the Participant’s compensation for services rendered in respect to any listing is solely a matter of negotiation between the Participant and the owner(s) of record and is not fixed, controlled, recommended, or maintained by any persons not a party to the listing agreement. MFRMLS does not fix, control, recommend, suggest, or maintain commission rates or fees for services to be rendered by Participants. Further, MFRMLS does not fix, control, recommend, suggest, or maintain the division of commissions or fees between cooperating Participants or between Participants and Non-Participants.

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Article 5.16: Expiration, Extension, and Renewal of Listings

Posted by MFRMLS Wed, 13 Apr 2011 21:05:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 16: Expiration, Extension, And Renewal of Listings. Any listing filed with MFRMLS automatically expires on the date specified in the agreement unless renewed in writing by the owner(s) of record and by the listing broker and a notice of that renewal or extension is updated in the MFRMLS database. Any extension or renewal of a listing must be signed by the parties to the original listing contract.  Expired listings can be changed from expired status to active status in the MLS data base for up to thirty days after the expiration date provided the signed renewal or extension is received and dated within 30 days of the expiration date.

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Article 5.17: Listings of Suspended Participants

Posted by MFRMLS Wed, 13 Apr 2011 21:07:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 17: Listings of Suspended Participants. When a Participant is suspended from MFRMLS for failing to abide by a membership duty (i.e., a violation of the Code Of Ethics, Bylaws, MFRMLS Rules and Regulations, or other membership obligations), all listings currently filed with MFRMLS by the suspended Participant shall, at the Participant’s option, be retained in MFRMLS  until sold, withdrawn, or expired, and shall not be renewed or extended by MFRMLS beyond the termination date of the listing agreement in effect when the suspension became effective. If a Participant has been suspended from their primary Association or MFRMLS (or both) for failure to pay appropriate dues, fees or charges the suspended Participant’s listings in MFRMLS will be canceled. The suspended Participant will be advised in writing of the intended removal so that the suspended Participant may advise the owner(s) of record.

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Article 5.18: Listings of Expelled Participants

Posted by MFRMLS Wed, 13 Apr 2011 21:08:00 GMT


Article 5 - Listing Procedures

Section 18: 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., violations 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 the 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, fees, 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 or 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 advice their customers. (Updated 6/2012)

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Article 5.19: Listings of Resigned Participants

Posted by MFRMLS Wed, 13 Apr 2011 21:10:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 19: Listings of Resigned Participants.
When a Participant resigns, MFRMLS is not obligated to provide services or include the resigned Participant’s listings in MFRMLS. Prior to any removal of resigned Participant’s listings from MFRMLS, the resigned Participant will be advised in writing of the intended removal so that the resigned Participant may advise the owner(s) of record.

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Article 5.20: Listing Acceptance from Participants

Posted by MFRMLS Wed, 13 Apr 2011 21:20:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 20: Listing Acceptance from Participants.  MFRMLS will accept listings from any Participant who is in good standing in their primary REALTOR® Association and/or a Participant in MFRMLS.

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Article 5.21: Listing Acceptance from Non-Member REALTORS

Posted by MFRMLS Wed, 13 Apr 2011 21:22:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 21. Listing Acceptance from Non-Member REALTORS®:  MFRMLS will accept listings from Designated REALTORS® in good standing with other Florida MLSs that are a signatory to the FAR Statewide Reciprocal Agreement. It is not required that a REALTOR® first places the listing in their primary MLS unless it conflicts with a rule in their primary MLS.

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Article 5.22: Lockbox Authorization

Posted by MFRMLS Wed, 13 Apr 2011 21:23:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 22: Lockbox Authorization.
The Associations within MFRMLS require written authorization from the property owner’s to the Listing Participant prior to placement of a lockbox on the property. This authorization may be selected by the owner(s) of record in the Exclusive Right of Sale or Exclusive Agency Listing Contract.

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Article 5.23: Track Price Change Information

Posted by MFRMLS Wed, 09 Nov 2011 22:21:00 GMT

 
ARTICLE 5 - LISTING PROCEDURES


Section 23: Track Price Change Information: Allow the display of price change history of listings in advertising including (but not limited to) IDX, in accordance with NAR’s Section 16 of the MLS Handbook. (Adopted 9/2011)

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Article 5.24: Track Time on Market Information

Posted by MFRMLS Wed, 09 Nov 2011 22:41:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 24: Track Time on Market Information: Allow the display of market time on listings in advertising including (but not limited to) IDX, in accordance with NAR’s Section 17 of the MLS Handbook.  (Adopted 9/2011)

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Article 5.25: Auction Properties

Posted by Connie Fri, 13 Mar 2015 21:44:00 GMT


Section 25: Auction Properties:
The MLS accepts exclusively listed property that is subject to auction (Absolute Auction or Auction With Reserve) or Online Auction; however, any listing submitted is entered within the scope of the Listing Brokerage’s licensure and in accordance with all other requirements for listing input. Compensation must be offered as described in Article 9.2 of these rules. Any contact information, bidding website, if applicable, or any other details related to the auction shall only be included in the fields related to Auctions and also may be included in the “Realtor Only Remarks” field. When listing broker receives knowledge that the sale of the listed property may be conditioned upon an Auction, then such disclosure must be made in the “Auction Y/N”, "Special Sale Provision“ and any other required auction fields. (Adopted 3/2015)


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Article 6.1: Showing and Negotiations

Posted by sfairley Tue, 26 Aug 2014 01:22:00 GMT



ARTICLE 6 - SELLING PROCEDURES


Section 1:
Showing and Negotiations. All dealings concerning property exclusively listed, or with buyers/tenants, who are exclusively represented, shall be carried on with the Listing Participant/ User, and not with the customer, except with the consent of the Listing Participant/User or when such dealings are initiated by the customers. Appointments for showing and negotiations with the owner(s) of record for the purchase of listed property filed with the MFRMLS shall be conducted through the Listing Participant except under the following circumstances:

A.   The Listing Participant/User gives the cooperating Participant/User specific written authority to show and/or negotiate directly, or;

B.   If, after reasonable effort, the cooperating Participant/User cannot contact the Listing Participant/User, the Listing Participant, at their option, may preclude all further direct negotiations. Reasonable effort is defined as two days excluding weekends and federally recognized holidays after the cooperating Participant/User sends the Listing Participant a written request to show and/or negotiate the listing.

C.   For purposes of this section, anything in writing which is transmitted or delivered by hand, facsimile or electronic means shall be deemed binding and sufficient.

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Article 6.2: Presentation of Offers

Posted by MFRMLS Wed, 13 Apr 2011 21:30:00 GMT


ARTICLE 6 - SELLING PROCEDURES


Section 2: Presentation of Offers.
The Listing Participant/User must make arrangements to present the offer as soon as possible, or give the cooperating Participant/User a satisfactory reason for not doing so. Upon written request from the cooperating Participant/User, the Listing Participant will provide written documentation that the offer was presented. The Listing Participant/User shall submit to the owner(s) of record all offers until closing unless agreed otherwise in writing between the owner(s) of record and the Listing Participant. Unless the subsequent offer is contingent upon the termination of an existing contract, the Listing Participant shall recommend that the owner(s) of record obtain the advice of legal counsel prior to acceptance of the subsequent offer.

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Article 6.3: Right of Cooperating Participant in Presentation of Offer.

Posted by MFRMLS Wed, 13 Apr 2011 21:32:00 GMT


ARTICLE 6 - SELLING PROCEDURES


Section 3: Right of Cooperating Participant in Presentation of Offer. The cooperating Participant /User shall have the right to be present when an offer they secure is presented by the listing Participant /User. The cooperating Participant/User has the right to participate in the presentation to the owner(s) of record or lessor of any offer they secure to purchase or lease. They do not have the right to be present at any discussion or evaluation of that offer by the owner(s) of record or lessor and the Listing Participant / User. However, if the owner(s) of record or lessor gives written instructions to the Listing Participant that the cooperating Participant/User not be present when an offer is presented, the cooperating Participant has the right to a copy of the owner(s) of record written instructions. None of the foregoing diminishes the Listing Participant / Subscriber’s right to control the establishment of appointments for such presentations.

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Article 6.4: Right of Listing Participant in Presentation of Counter-Offers

Posted by MFRMLS Wed, 13 Apr 2011 21:34:00 GMT


ARTICLE 6 - SELLING PROCEDURES


Section 4: Right of Listing Participant in Presentation of Counter-Offers.
The Listing Participant /User have the right to participate in the presentation of any counter-offer made by the owner(s) of record or lessor. They do not have the right to be present at any discussion or evaluation of a counter-offer by the purchaser or lessee. However, if the purchaser or lessee gives written instructions to the cooperating Participant that the Listing Participant / User not be present when a counter-offer is presented, the Listing Participant has the right to a copy of the purchaser’s or lessee’s written instructions. 

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Article 6.5: Advertising of Listing Filed with MFRMLS

Posted by MFRMLS Wed, 13 Apr 2011 21:36:00 GMT


ARTICLE 6 - SELLING PROCEDURES


Section 5: Advertising of Listing Filed with MFRMLS. A listing shall not be advertised by any other Participant without the prior written consent of the Listing Participant. Use of information from MFRMLS compilation of current listing information, from the Association’s "Statistical Report" or from any "sold" or "comparable" report of an Association or MFRMLS for public mass-media advertising by a Participant or in other public representations may not be prohibited. However, any print or non-print forms of advertising or other forms of public representations based in whole or in part on information supplied by the Associations or MFRMLS must include the following notice:

"Based on information from the My Florida Regional Multiple Listing Service, Inc. for the period (date) through (date). This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service".

 

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Article 6.6: Reporting Cancellation of Pending and Contingent Pending Sales

Posted by MFRMLS Wed, 13 Apr 2011 21:38:00 GMT


ARTICLE 6 - SELLING PROCEDURES


Section 6: Reporting Cancellation of Pending and Contingent Pending Sales. The Listing Participant shall report to MFRMLS the cancellation of a pending sale and the listing shall be reinstated to active status within two days excluding weekends and federally recognized holidays, if applicable.

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Article 7: Refusal to Sell

Posted by MFRMLS Tue, 06 Jun 2006 00:20:00 GMT


ARTICLE 7 - REFUSAL TO SELL


If the owner(s) of record of any listed property filed with MFRMLS refuses to accept a written offer satisfying the terms and conditions stated in the listing, such fact should be transmitted immediately to MFRMLS and to all Participants by withdrawing the listing

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Article 8.1: Information for Participants Only

Posted by MFRMLS Tue, 06 Jun 2006 00:28:00 GMT


ARTICLE 8 – PROHIBITIONS

Section 1: Information for Participants Only.
Any listing filed with MFRMLS shall not be made available to any broker or firm not a member of MFRMLS without the prior written consent of the Listing Participant.

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Article 8.2: "For Sale" Signs

Posted by MFRMLS Tue, 06 Jun 2006 00:30:00 GMT


ARTICLE 8 – PROHIBITIONS


Section 2: "For Sale" Signs. Only "For Sale" signs authorized by the Listing Participant may be placed on a property. If the Listing Participant authorizes any sign other than the company sign, this must be disclosed in the Realtor only Remarks section of the MLS data form.

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Article 8.3: "Sold"/"Sale Pending" Signs

Posted by MFRMLS Tue, 06 Jun 2006 00:31:00 GMT


ARTICLE 8 – PROHIBITIONS


Section 3: "Sold"/"Sale Pending" Signs.
Only Participants/ Subscribers who participated in the transaction as the Listing Participant or cooperating Participant may claim to have “sold” the property. Prior to closing a cooperating Participant may post a “sold” sign only with the consent of the Listing Participant.

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Article 8.4: Solicitation of Listing Filed with MFRMLS

Posted by MFRMLS Tue, 06 Jun 2006 00:34:00 GMT


ARTICLE 8 – PROHIBITIONS


Section 4: Solicitation of Listing Filed with MFRMLS. Participants shall not solicit a listing on property filed with MFRMLS unless such solicitation is consistent with Article 16 of the REALTOR® Code of Ethics and its Standards of Practice. This section is intended to encourage owner(s) of record to permit their properties to be filed with MFRMLS by protecting them from being solicited prior to expiration of the listing by Participants / Subscribers seeking the listing upon its expiration.

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Article 8.5: On-Line Recruiting

Posted by MFRMLS Wed, 13 Apr 2011 21:51:00 GMT


ARTICLE 8 – PROHIBITIONS


Section 5: On-Line Recruiting.
The MFRMLS shall not be utilized for recruiting purposes. Messages, advertisements or e-mails indicating an offer of employment shall be deleted.

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Article 9.1: Division of Commissions

Posted by MFRMLS Tue, 06 Jun 2006 00:36:00 GMT


ARTICLE 9 – COMPENSATION


Section 1:  Division of Commissions. The listing broker shall specify, on each listing filed with the multiple listing service, the compensation offered to other multiple listing service participants for their services in the sale of such listing. Such offers are unconditional except that entitlement to compensation is determined by the cooperating broker’s performance as the procuring cause of the sale (or lease) or as otherwise provided for in this rule. The listing broker’s obligation to compensate any cooperating broker as the procuring cause of the sale (or lease) may be excused if it is determined through arbitration that, through no fault of the listing broker and in the exercise of good faith and reasonable care, it was impossible or financially unfeasible for the listing broker to collect a commission pursuant to the listing agreement. In such instances, entitlement to cooperative compensation offered through MLS would be a question to be determined by an arbitration hearing panel based on all relevant facts and circumstances including, but not limited to, why it was impossible or financially unfeasible for the listing broker to collect some or all of the commission established in the listing agreement; at what point in the transaction did the listing broker know (or should have known) that some or all of the commission established in the listing agreement might not be paid; and how promptly had the listing broker communicated to cooperating brokers that the commission established in the listing agreement might not be paid.  

In filing a property with the multiple listing service of an association of REALTORS®, the participant of the service is making blanket unilateral offers of compensation to the other MLS participants, and shall therefore specify on each listing filed with the service, the compensation being offered to the other MLS participants. Specifying the compensation on each listing is necessary, because the cooperating broker has the right to know what his compensation shall be prior to his endeavor to sell.*  The listing broker retains the right to determine the amount of compensation offered to other participants. (Updated 11/1996)

This shall not preclude the listing broker from offering any MLS participant compensation other than the compensation indicated on any listing published by the MLS, provided the listing broker informs the other broker, in writing, in advance of submitting an offer to purchase, and provided that the modification in the specified compensation is not the result of any agreement among all or any other participants in the service. Any superseding offer of compensation must be expressed as either a percentage of the gross sales price or as a flat dollar amount. (Updated 5/2010)

Note 1: The multiple listing service shall not have a rule requiring the listing broker to disclose the amount of total negotiated commission in his listing contract, and the association multiple listing service shall not publish the total negotiated commission on a listing which has been submitted to the MLS by a participant. The association multiple listing service shall not disclose in any way the total commission negotiated between the seller and the listing broker.

Note 2: The listing broker may, from time to time, adjust the compensation offered to other multiple listing service participants for their services with respect to any listing by advance published notice to the service so that all participants will be advised. (Updated 4/1992)

Note 3: The multiple listing service shall make no rule on the division of commissions between participants and nonparticipants. This should remain solely the responsibility of the listing broker.

Note 4: Multiple listing services, at their discretion, may adopt rules and procedures enabling listing brokers to communicate to potential cooperating brokers that gross commissions established in listing contracts are subject to court approval, and that compensation payable to cooperating brokers may be reduced if the gross commission established in the listing contract is reduced by a court. In such instances, the fact that the gross commission is subject to court approval and either the potential reduction in compensation payable to cooperating brokers or the method by which the potential reduction in compensation will be calculated must be clearly communicated to potential cooperating brokers prior to the time they submit an offer that ultimately results in a successful transaction. (Updated 5/2010)

Note 5: Nothing in these MLS rules precludes a listing participant and a cooperating participant, as a matter of mutual agreement, from modifying the cooperative compensation to be paid in the event of a successful transaction. (Adopted 11/2005)

Note 6: Multiple listing services must give participants the ability to disclose to other participants any potential for a short sale. 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. Multiple listing services may, as a matter of local discretion, require participants to disclose potential short sales when participants know a transaction is a potential short sale. In any instance where a participant discloses a potential short sale, they may, as a matter of local discretion, also be permitted to communicate to other participants how any reduction in the gross commission established in the listing contract required by the lender as a condition of approving the sale will be apportioned between listing and cooperating participants. All confidential disclosures and confidential information related to short sales, if allowed by local rules, must be communicated through dedicated fields or confidential “remarks” available only to participants and subscribers. (Updated 5/2009)


ARTICLE 9 – COMPENSATION


Section 2: Compensation Required. MFRMLS does not publish listings that do not include an offer of compensation nor does it include general invitations by Listing Participants to other Participants to discuss terms and conditions of possible cooperative relationships. The compensation specified on listings filed with the multiple listing service shall appear in one of two forms. The essential and appropriate requirement by an association multiple listing service is that the information to be published shall clearly inform the participants as to the compensation they will receive in cooperative transactions, unless advised otherwise by the listing broker, in writing, in advance of submitting an offer to purchase. The compensation specified on listings published by the MLS shall be shown in one of the following forms:

A.  By showing a percentage of the gross selling price

    
OR

B. 
By showing a definite dollar amount

If a bonus is being offered in addition to the compensation offered, the separate bonus field should be used to outline the bonus offered. (Updated 1/2014)

Note: The penalty for non-compliance is outlined in the General Fine Schedule (See Article 11/Section 4B).

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