Article 05.02: Types of Listings Accepted

Section 2: Types of Listings Accepted

Participants in Stellar MLS may submit the following types of listing(s) (Note: These listing agreements must include the owner(s) of record written authorization to submit the agreement to the Stellar MLS):

A.  Exclusive Right of Sale:  The Exclusive Right of Sale Listing in which the Listing Participant is authorized by the owner(s) of record to cooperate with and to compensate other brokers. It gives the Listing Participant the right to sell the property and to collect a commission if the property is sold by anyone, including the owner(s), within the listing period.

B.  Exclusive Agency: The Exclusive Agency Listing authorizes the Listing Participant, as exclusive agent, to offer cooperation and compensation on a blanket unilateral basis, but also reserves for the owner(s) of record the right to sell the property themselves and not be obligated to pay a commission.

C.  Limited Service Listings: A Limited Service listings may not reference that the listing is For Sale By Owner (FSBO) in the Public or Realtor Remarks.  A Limited Service listings is defined when Participants, pursuant to their listing agreements, will not provide one or more of the following services.

i. Arrange appointments for cooperating brokers to show listed properties to potential purchaser(s) but instead give cooperating brokers authority to make such appointments directly with seller(s)

ii. Accept and present to seller(s) offers to purchase procured by cooperating brokers but instead give cooperating brokers authority to present offers directly to seller(s)

iii. Advise seller(s) as to the merits of offers to purchase

iv. Assist seller(s) in developing, communicating, or presenting counter-offers

v. Participate on seller’s(s’) behalf in negotiations leading to the sale of the listed property