MLS Rule Changes – Dec 28th

The following changes to the MLS Rules and Regulations will go into effect December 28th. These changes will allow an “Active – Coming Soon” listing to meet the requirements of Mandatory Submission and provide clarity for agents when explaining Clear Cooperation to sellers.

 

 

7.5 Mandatory Submission. Within 21 business days after of marketing or advertising a property to the public all necessary signatures of the seller(s) have been obtained on the listing or at the beginning date of the listing as specified in the contract, whichever is later, on any exclusive right to sell or seller reserved listing on agreement for the sale of one to four unit residential property and vacant lots located within the service area of the MLS, Broker Participants shall must(1)input the listing to the service for cooperation with other Participants., or (2) submit a seller-signed exclusion in accordance with Section 7.6 (Exempted Listings) to the service. Public marketing or advertising includes, but is not limited to, conveying or displaying any information about the property or its availability for sale through or on any: windows, signs, public facing websites, social media, brokerage or franchise operated websites (including IDX and VOW), digital communications marketing (ex: email, text or phone blasts, social media messaging), multi-brokerage or franchise listing sharing networks, flyers or written material or on any applications available to the public or through conducting an open house. The public would include anyone outside the broker(s) and agent(s) licensed within a single listing brokerage and their clients, as further described in Section 7.6)All necessary signatures are those needed to create an enforceable listing, which generally means all named signatories to the listing agreement. In the event there are known additional property owners not made a signatory to the listing, listing broker shall disclose said fact on the service and state whether the listed seller will make the sale contingent on the consent of the additional property owners. In the event listing agent is prevented from complying with the 2 day time period due to seller’s delay in returning the signed listing agreement, listing broker must submit the listing to the service within 2 days of receipt back from seller. The MLS may require listing broker to present documentation to the service evidencing seller’s delayed transmission. Only those listings that are within the service area of the MLS must be input. Open listings, rental listings or listings of property located outside the MLS’s service area (see Section 7.7) are not required by the service, but may be input at the Broker Participant’s option.

 

7.6 Exempted Listings. If the seller refuses to permit the listing to be disseminated by the service on any exclusive right to sell or seller reserved listing agreement for the sale of one to four unit residential property and vacant lots located within the service area of the MLS, the listing broker shall submit to the service within 1 3 days after all necessary signatures of the seller(s) have been obtained on the listing agreement or at the beginning date of the listing as specified in the contract, whichever is later, a certification signed by the seller stating that the seller instructs listing broker to do no public marketing or advertising (as public marketing or advertising is defined in Section 7.5), that the only scope of permissible promotion of the property will occur internally within the brokerage and consist of direct one-on-one communication between the listing broker and licensees affiliated with the listing brokerage and their respective clients (i.e. “office exclusive”) and that seller refuses to does not authorize the listing to be disseminated by the service. C.A.R. Standard Form SELM and/or RLA may be used for this certification, but in any event, said exclusion certification shall include the aforementioned required statements as well as an advisory to seller that, in keeping the listing off the MLS, (1) real estate agents and brokers from other real estate offices, and their buyer clients, who have access to the MLS may not be aware seller’s property is for sale, (2) seller’s property will not be included in the MLS’s download to various real estate Internet sites that are used by the public to search for property listings, (3) real estate agents, brokers and members of the public may be unaware of the terms and conditions under which seller is marketing the property, and (4) any reduction in the exposure of the property may lower the number of offers made and negatively impact the sales price. In the event listing broker commences any public marketing or advertising on an exempted listing, submission to the MLS for dissemination is required within (1) one business day thereafter in accordance with Section 7.5.

 

 

If you have any questions please contact CCAR MLS Compliance at [email protected] or 925.295.1270