Listing Procedures. If Receiving Member in response to a Buy/Sell Notice elects to implement the listing procedures described in this Section 10.5, then promptly after the Receiving Member delivers its Election Notice (and in any event within 10 days thereafter), the Receiving Member shall provide the other Member with the names of three (3) real estate brokers that the Receiving Member would like to engage for the purpose of listing the Project for sale and the other Member shall, within seven (7) days of receiving the proposed real estate brokers, select one of the three (3) brokers to act as the listing agent for the Project. Thereafter, the Members and the listing agent shall cooperate diligently and in good faith to effectively market the Project for sale for an aggregate purchase price no less than 103% of the Specified Valuation Amount set forth in the Buy/Sell Notice that led to the implementation of these listing procedures and otherwise on customary and reasonable terms for property sales similar to a sale of the Project (such terms to include, without limitation, customary representations and warranties, a customary survival period for representation and warranties, customary liability limits for breaches of representations and warranties, customary proration provisions and customary cost allocations) (collectively, the “Acceptable Terms”). If, in the course of marketing the Project, the Company receives multiple purchase offers, then, except as set forth below and, otherwise, absent clear differences in the ability of the purchaser to close or in the potential post-closing liability of the Company as seller, the Company shall accept the offer that would result in the highest cash purchase price to the Company and shall thereafter diligently proceed to a closing of the sale of the Project. Subject to the requirement to maximize the aggregate cash purchase price to the Company in accordance with the preceding terms of this Section 10.5, the Company shall not reject (and the Members are hereby conclusively deemed to have approved) any offer to purchase the Project for 103% of the Specified Valuation Amount if such offer is otherwise on Acceptable Terms. If the Company, despite its good faith efforts, is unable, during the six (6) months following the Election Notice that triggered these listing procedures (the “Listing Period”), to enter into a purchase and sale agreement on Acceptable Terms providing for the sale of the Project for a purchase price of at least 103% ...
Listing Procedures. A Property Data Sheet for listings of real or personal property of the following types, which are listed subject to a real estate broker’s license, located within the service area of the Association taken by Participants on exclusive right to sell or exclusive agency listings shall be delivered to the Association within one (1) business day after all necessary signatures of seller(s) have been obtained and any Marketing begins:
a. Single family homes for sale or exchange;
b. Vacant lots and acreage for sale or exchange;
c. Two-family, three-family, and four-family residential buildings for sale or exchange. All such listings shall be subject to these Rules and Regulations. A Property Data Sheet shall be submitted to the Association for each such listing by the next business day after all signatures to the listing agreement have been obtained and any Marketing has begun. A Property Data Sheet for exclusive listings for sale, lease or exchange of other types of real or personal property, or real or personal property located outside the service area of the Association may, at the option of the Participant, be submitted to the Association. If so submitted they will be accepted for dissemination. By submitting a Property Data Sheet to the Association a Participant represents and warrants to the Association and all other Participants that:
a. The Participant has been granted by the seller(s) the exclusive right to sell, lease or exchange or an exclusive agency to sell, lease or exchange the property described therein;
b. Such exclusive right to sell, lease or exchange or exclusive agency has been granted pursuant to a valid and enforceable written contract which is in full force and effect;
c. The seller(s) has therein authorized a blanket unilateral offer of compensation to other Participants (acting either as subagents, buyer agents, or both); the submission for dissemination of a Property Data Sheet to the Association; the dissemination by the Association of information concerning the property and its availability for sale, lease or exchange, and has authorized the payment of a commission to a Cooperating Participant (Broker) in the amount set forth in such Property Data Sheet; and
d. To the best of the knowledge of the listing Participant, all data and information contained in the Property Data Sheet is accurate and complete. The exclusive right to sell listing is the conventional form of listing submitted to the Multiple Listing Service in that the seller a...
Listing Procedures. Listings of real or personal property11 of the following types, which are listed subject to a real estate broker’s license, and are located within the service area of the multiple listing service, and are taken by participants on listing contracts acceptable to MLS12 shall be filed with the service within three (3) business days of the signatures of the seller(s), within one (1) business day of any public marketing13 of the listing, or within one hour of being input into another MLS, whichever is earlier.
a. single family homes for sale or exchange b. vacant lots and acreage for sale or exchange
Listing Procedures. Listings of real or personal property11 of the following types, which are listed subject to a real estate broker’s license, and are located within the service area of the multiple listing service, and are taken by participants on listing contracts acceptable to MLS12 shall be filed with the service within three (3) business days of the signatures of the seller(s), within one (1) business day of any public marketing13 of the listing, or within one hour of being input into another MLS, whichever is earlier.
a. single family homes for sale or exchange
b. vacant lots and acreage for sale or exchange
c. two-family, three-family, and four-family residential buildings for sale or exchange
Note 1: The multiple listing service shall not require a participant to submit listings on a form other than the form the participant individually chooses to utilize provided the listing is of a type accepted by the service, although a property data form may be required as approved by the multiple listing service. However, the multiple listing service, through its legal counsel:
Note 2: A multiple listing service does not regulate the type of listings its members may take. This does not mean that a multiple listing service must accept every type of listing. The multiple listing service shall decline to accept open listings (except where acceptance is required by law) and net listings, and it may limit its service to listings of certain kinds of property. But, if it chooses to limit the kind of listings it will accept, it shall leave its members free to accept such listings to be handled outside the multiple listing service.
Note 3: A multiple listing service may, as a matter of local option, accept exclusively listed property that is subject to auction. If such listings do not show a listed price, they may be included in a separate section of the MLS compilation of current listings. M MLS shall accept listings subject to auction terms provided they are conducted in accordance with all applicable laws and the following conditions are met:
(1) a valid listing contract between the Participant and the Seller exists, subject to the requirements outlined in Section 1
(2) a listing price is specified as outlined in Section 1.7
(3) compensation is offered to cooperating Participants as outlined in Section 4
(4) an agency relationship between the Seller and the Participant exists for the duration of the auction process
(5) the Participant clearly discloses in the MLS that the listing is ...
Listing Procedures. Maintaining accurate listing data is a critical necessity for achieving the defined purpose of the MLS. Participants and subscribers are required to submit accurate listing data and are required to correct any known errors. Listings of real and personal property (if applicable) of the following types, which are listed subject to a real estate broker’s license, and are located within the service area of the multiple listing service, and are taken by participants on (indicate form[s] of listing[s] accepted by the service - See Notes 1 and 2) shall be delivered to the multiple listing service within five days after all necessary signatures of seller(s)have been obtained:
1. Single family homes for sale or exchange
2. Vacant lots and acreage for sale or exchange
Listing Procedures. Listings of real or personal property of the following types, which are listed subject to a real estate broker’s license, and are located within the service area of the multiple listing service, and are taken by participants on (indicate form[s] of listing[s] accepted by the service—See Notes 1 and 2) shall be delivered to the multiple listing service within five days after all necessary signatures of seller(s) have been obtained:
1. Single family homes for sale or exchange
2. Vacant lots and acreage for sale or exchange
3. Two-family, three-family, and four-family residential buildings for sale or exchange
Note 1: The multiple listing service shall not require a participant to submit listings on a form other than the form the participant individually chooses to utilize provided the listing is of a type accepted by the service, although a property data form may be required as approved by the multiple listing service. However, the multiple listing service, through its legal counsel:
1. May reserve the right to refuse to accept a listing form which fails to adequately protect the interests of the public and the participants
2. Assure that no listing form filed with the multiple listing service establishes, directly or indirectly, any contractual relationship between the multiple listing service and the client (buyer or seller) The multiple listing service shall accept exclusive right-to-sell listing contracts and exclusive agency listing contracts, and may accept other forms of agreement which make it possible for the listing broker to offer compensation to the other participants of the multiple listing service acting as subagents, buyer agents, or both. The listing agreement must include the seller’s written authorization to submit the agreement to the multiple listing service. The different types of listing agreements include: The service may not accept net listings because they are deemed unethical and, in most states, illegal. Open listings are not accepted except where required by law because the inherent nature of an open listing is such as to usually not include the authority to cooperate and compensate other brokers and inherently provides a disincentive for cooperation. The exclusive right-to-sell listing is the conventional form of listing submitted to the multiple listing service in that the seller authorizes the listing broker to cooperate with and to compensate other brokers. The exclusive agency listing also authorizes the listing broker, as ex...
Listing Procedures. 2.01 Lawful sellers 3
2.02 MLS listing requirements 3
2.03 Named excluded buyers… 4
2.04 Limiting and unusual conditions 4 2.05 Board & XXXX forms required for MLS listings… 4 2.06 Special agreements… 4 2.07 Restrictions on internet links… 4
2.08 Photos 4
2.09 Responsibility for accuracy of MLS data… 5 2.10 MLS amendments within forty-eight hours 5 2.11 Delivery of hardcopy 5
2.12 Sharing Information before publication 5
2.13 MLS listing extentions 5
2.14 Changes to an MLS listing within forty-eight hours 6
2.15 Reducing the term of an MLS listing 6
2.16 Property to be sold separately must be listed separately 6
2.17 Property type or location… 6
2.18 Binding the principle to MLS rules 6
Listing Procedures. Listings of real or personal property of the following types, which are listed sub- ject to a real estate broker’s license, and are located within the service area of the multiple listing service, and are taken by participants on (indicate form[s] of listing[s] accepted by the service—See Notes 1 and 2) shall be delivered to the multiple listing service within five days after all necessary signatures of seller(s) have been obtained:
1. Single family homes for sale or exchange
2. Vacant lots and acreage for sale or exchange
Listing Procedures. With respect to each list that a Party is required to establish and maintain pursuant to Section 2.1.1 or 2.1.2 hereof, as applicable, the Party shall implement and comply with the following procedures:
Listing Procedures. Section 1. Who Can Participate in the RLS.
