9.4 Presentation of Offers
The listing broker must make arrangements to present an offer as soon as possible or give the buyer a satisfactory reason for not doing so. If a seller/landlord has directed that offers are not to be presented for any length of time, seller’s direction authorizing such arrangement shall be in writing and listing broker shall provide clear and accurate notice of the date/time of presentation of offers as set forth in the written instructions to Participants and Subscribers in the confidential remarks of the MLS not withstanding seller’s right to accept offers at any time. In the event a listing broker will not be participating in the presentation of offers, the listing broker shall clearly indicate this fact in the listing information published by this service.
10.2 Reporting Sales...
The MLS Rules & Regulations section 10.2 – Reporting Sales ensures that the MLS database is accurate and improves public perception. CCAR MLS Participants and Subscribers are required to update listings to “PENDING” or “SOLD” within one (1) day, regardless of weekends.
The enforcement of the MLS Rules & Regulations helps minimize the number of times a member of the public will find an active listing on the internet that is already pending or sold.
12.5.2 Confidential Remarks
a. “For Comp Purposes Only” must appear in the first line of confidential remarks when a listing is entered for that purpose.
b. References to codes, burglar alarm, security system, gate codes, or combination lockbox codes may only be placed in the confidential remarks with seller’s written permission.
c. Caution: Title or escrow information may be entered in confidential remarks. However, participants and Subscribers should note that any verbiage which implies a requirement to use a specific title company or escrow service may be a violation of RESPA. You are advised to seek legal counsel for specific advice when using such verbiage.
d. Except for reciprocal listings, no reference may be made to licensees who are not Participants or Subscribers.
e. No reduction conditions on compensation offered through the MLS for items such as lender reductions of gross commission, short sale negotiator fee or other administrative costs of the transaction is allowed.
Agents that prefer to put in confidential remarks when offers will be presented must update any change in presentation date and time prior to twenty-four (24) hours of the new date and/or time of presentation. If a seller(s)/landlord(s) has directed that offers are not to be presented for any length of time, seller’s direction authorizing such arrangement shall be in writing and listing broker shall provide clear and accurate notice of the date/time of presentation of offers as set forth in the written instruction to Participants and Subscribers in the confidential remarks of the MLS not withstanding seller’s right to accept offers at any time.
g. If, for “commercial for lease properties” the compensation amount varies over time of the lease it must be specified in the Confidential Remarks in the MLS.