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Article 5.12 Change of Status of a Listing

Posted by Connie Sat, 23 Aug 2014 01:35:00 GMT


ARTICLE 5 - LISTING PROCEDURES


Section 12: Change of Terms and Status of a Listing.

 A. Change in Terms: Any price change or change in the terms and conditions from the original listing agreement shall be made only when authorized in writing by the owner(s) of record and shall be filed with MFRMLS within two days, excluding weekends and federally recognized holidays, after the signed authorization is received by the Listing Participant. The “Pending Status” on any listing overrides the expiration date. The penalty for non-compliance is outlined in the Automatic Fine Schedule, Level I (See Article 11/Section 4C).

 B. Change in Status:

       i.        Any change in status to “pending” shall be filed with MFRMLS within two days, excluding weekends and federally recognized holidays, of effective date of contract. The penalty for non-compliance is outlined in the Automatic Fine Schedule, Level I (See Article 11/Section 4C).

      ii.        Any change in status to “sold” shall be filed with MFRMLS within two days, excluding weekends and federally recognized holidays, of close date of contract. The penalty for non-compliance is outlined in the Automatic Fine Schedule, Level I (See Article 11/Section 4C).

     iii.        All other change in status shall be filed with MFRMLS within two days, excluding weekends and federally recognized holidays, after the signed authorization is received by the Listing Participant. The penalty for non-compliance is outlined in the Automatic Fine Schedule, Level I (See Article 11/Section 4C).

C. Status Definitions:

       i.          Pending:  A real estate transaction status where the buyer and seller have entered into a legally binding contract with an effective date, however the property has not yet transferred ownership.

      ii.          Sold: Property has been closed and transferred ownership.

    iii.          Active:  A current listing contract exists between a property owner and a broker.  The owner(s) have not entered into a legally binding contract with an effective date.  The property is available for showing and/or submission of offers to purchase or lease.

    iv.          Leased:  Property owner and tenant have agreed to lease terms and conditions.

     v.          Lease Option:  Property owner and tenant have agreed to lease option terms and conditions.

    vi.          Expired:  The listing contract has passed its termination date.

   vii.          Temporarily Off Market: A current listing contract exists between a property owner and a broker. The property is not available for showing and/or submission of offers to purchase or lease. This status is to be used when the property cannot be shown.

  viii.          Withdrawn - Conditional: The listing has been withdrawn from the market. A listing agreement may still exist between the seller and the listing office; prior to relisting, be sure to review any outstanding obligations with previous listing office and the seller.

    ix.          Withdrawn - Unconditional: The listing has been withdrawn from the market with no outstanding obligations between the seller and the prior listing office.


ARTICLE 5 - LISTING PROCEDURES


Section 13: Withdrawal of Listing Prior To Expiration. Listings may be withdrawn from MFRMLS by the listing broker before the expiration date of the listing agreement if agreed to in writing by the listing broker and the owner(s) of record. A copy of the agreement must be available upon request by MFRMLS. If the Participant determines that the proceeds which the owner(s) of record would reasonably expect to receive from the sale will not be sufficient to pay the compensation due to the Participant, then the contract may be terminated by the Participant upon three days written notice to the owner(s) of record. The owner(s) of record do not have the unilateral right to require the MFRMLS to withdraw a listing without the listing broker’s concurrence. However, when the owner(s) of record can document that their exclusive relationship with the Listing Participant has been terminated; MFRMLS may remove the listing at the request of the owner(s) of record.

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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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