MLS RULE 7.5-7.6 | LISTING/WAIVER SUBMISSIONS
To avoid MLS compliance issues, provide CCAR with an executed SELM (Sellers Exclusion of Listing from MLS) within 3 days of obtaining the final signature on listing agreement, regardless of weekends.
Pro Tip: Add the SELM form to your Residential Listing Agreement templates so you never forget to include it in a transaction.
MLS Rule 7.5: Mandatory submission
Within 3 days after all necessary sellers’ signatures 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 1-4-unit residential property and vacant lots located within the service area of the MLS, Broker Participants shall (1) input the listing to the service, or (2) submit a seller-signed exclusion in accordance with Section 7.6 (Exempted Listings) to the service. 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 signatory to the listing, listing broker shall disclose said fact on the service and state whether the event listing agent is prevented from complying with the 2-day time period due to seller’s delay in returning 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 are of the MLS must be input. Open 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.
mls rule 7.6: Exempted listings
If the seller refuses to permit the listing to be disseminated by the service, the listing broker shall submit to the service a certification signed by the seller that the seller does not authorize the listing to be disseminated by the service. C.A.R. Standard From SELM may be used for this certification, but in any event, said exclusion shall include 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, and (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) the reduction in exposure of the listing may lower the number of offers made and negatively impact the sales price.