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9. LISTING
PROCEDURES
9.1
Listings Subject to Rules and
Regulations. MLS listings may
be filed with BAREIS only by
broker Participants. Any
listing filed with BAREIS by a
broker Participant is subject to
these Rules and Regulations.
9.2
Compliance with California and
Federal Law. BAREIS shall
accept any listing that it is
required to accept under
California or federal law.
9.3 Type
and Classification of Listings. BAREIS shall
accept exclusive right to sell,
exclusive agency, open, and
probate listings as defined in
the California Civil Code § 1086
et seq. Listings that contain
any exceptions whereby the owner
need not pay a commission if the
property is sold to particular
individuals or under special
situations shall be classified
according to their proper legal
contract form. The listing
broker shall explain all
exceptions in the confidential
remarks. It shall be the
responsibility of the listing
broker to classify each listing
submitted. BAREIS shall not
have an affirmative
responsibility to verify such
legal classifications. However,
BAREIS shall have the right to
make a determination as to the
classification. If a
determination is made that the
listing has been falsely
classified, and the listing
broker refuses to reclassify it, BARElS
shall have the right to issue a
fine and to reject or remove the
listing. (12/1/06)
9.4 Types of
Properties. BAREIS shall accept
listings for the following types
of property:
Single‑Family Homes
Condominiums/Stock
Cooperatives/Tenancies in
Common/PUD
Modular
and Manufactured Homes
2‑4
Units (Residential)
5+
Units (Residential)
Business Opportunities
Lots
and Acreage
Farms
and Ranches
Commercial/Industrial
Floating and Mobile Homes
Rentals
9.5
Separate Listings. All
properties that can be sold
separately must be listed
separately, except as otherwise
approved by the Board.
Properties may not be filed in
more than one property category
or in more than one county or
area, unless the property meets
at least one of the following
specific criteria:
For approval in
two property categories:
(a)
Parcels with mixed-use zoning
are being sold together; or
(b) A residential
and commercial or land subdivision is
pre-approved. Proof
of pre-approval from
municipality must be provided;
or
(c)
A lot where new home construction plans are approved and the
list price includes all
completed improvements. (1/23/06)
For approval in multiple
counties or areas:
(a) The property’s
footprint overlaps two counties;
(b) The principal access road to
the property is in a different
county; or
(c) The mailing
address of the property is
different from the property’s
location.
9.6 Listing
Agreement and Seller's
Permission. Prior to filing a
listing with BAREIS, the listing
broker must possess a written,
valid listing agreement.
Listing agreements utilized by
listing brokers must contain all
of the following:
(a)
The agreement must establish and
define the agency relationship
and grant the listing broker
authority to act as an agent of
the seller;
(b)
The agreement must grant the
listing broker
authority to enter the listing
in the MLS Database;
(c)
The agreement must include
instructions to post or not post
the listing on Internet sites,
and,
and if permitted to post the
listing to the Internet,
instruction to disclose or not
disclose the address of the
property on Internet
sites;
(d)
The agreement must grant the
listing broker authority to post
sales information in the MLS Database upon sale of the
property;
and
(e)
The agreement must grant the
listing broker authority to make
a unilateral offer of
compensation to other Members
through the MLS Database.
It is
the responsibility of the
listing broker to explain these
Rules and Regulations to the
seller. A seller’s or buyer’s
request of a Member not to
report a sale or to violate any
other Rule or Regulation does
not relieve the Member from his,
her or its obligations under
these Rules and Regulations.
9.7 Mandatory
Inclusion. Participants shall
include in the MLS Database all
accepted listing types located
within the service area of
BAREIS, within three Business Days
after all necessary signatures
have been obtained on the
subject listing or on the
effective date of the contract,
whichever is later. Listings of
property located outside BAREIS’
service area are not required to
be included.
Commercial/Industrial, 5+ Units,
Business Opportunities, or
Rental categories are not
required to be included in the
MLS Database. (11/01/07)
9.8 Excluded
Listings. If the seller does
not permit the listing or final
reporting of sales data to be
included in the MLS Database at
the time the listing is taken,
or at any time during the
listing, the listing may not be
entered into the MLS Database.
The listing broker must provide
an “Authorization to Exclude
Listing from MLS” to BAREIS
within
three
Business Days of the
effective date of the contract.
(11/01/07)
9.9
Written Documentation. BAREIS
shall have the right at any time
and from time to time to demand
a copy of agreements and
authorizations to verify the
listing’s existence and
adequacy. If a Member fails to
provide documentation within 24
hours, BAREIS shall have the
right, in addition to fining the
Member, to immediately withdraw
any listings from the MLS
Database for a violation of
these Rules and Regulations.
9.10 Accuracy of
Information. By filing a
listing with BAREIS, the listing
broker shall be responsible for
the truth of all representations
and statements of which the
listing broker had knowledge or
should have had knowledge, as
required by California Civil
Code §1088. The listing broker
shall immediately review the
listing, verify its correctness,
and correct any error. If the
broker is unable to correct the
error, he or she shall notify
BAREIS in writing. BAREIS’ sole
responsibility shall be to
correct the error
as presented by the presented by
the listing broker.
9.11 Detail on Listings.
Listing information filed with
BAREIS by the listing broker
shall be complete in every
detail, including the full
gross-listing price, the
termination date, the
compensation offered to other
Participants, and any other item
required to be included as
determined by the Board. A
listing broker who is notified
by any third party, including
the seller or BAREIS, that the
data has an error or omission or
requires a correction, must
complete or correct the
information within
three
Business Days from the date
the listing broker is so
notified. (Effective
11/01/07)
9.12
Special Provisions. Any special
circumstance, provision,
contingency or condition of any
type in a listing agreement that
would materially affect the
buyer or the decision of the
buyer to purchase the subject
property, or a
condition outside of a listing
agreement that would materially
and adversely affect the transaction or the
compensation of a representative
of any party to the transaction
(such as the commission or other
compensation in a probate sale,
short sale, sale with a pending notice of default, or
other similar circumstance)
shall be specified in the
confidential remarks. (4/16/07)
9.13
Member as Principal. If a
listing broker through one or
more intermediaries has any
interest, whether direct or
indirect, in the property, other
than the listing broker’s rights
under the subject listing
agreement, the listing broker
shall clearly indicate this fact
in the confidential remarks.
9.14
Correct Use of Data Fields.
Data fields may be used only for
their specified purpose,
including:
9.14.1
General. Members may not use
the remarks section or any MLS
Database field for the purpose
of disparaging other real estate
agents or brokers, conveying
information about other offices,
or for conveying any information
that does not directly relate to
the marketing of the subject
listing.
9.14.2
Confidential Remarks.
(a) The confidential remarks data
field is intended to contain
agent-to-agent remarks, showing
instructions, financing or
escrow information, contact
information, and any information
deemed confidential pursuant to
these Rules and Regulations
(b)
No reference may be made to
licensees who are not members
(participants or subscribers) of
BAREIS MLS®.
(c)
"For Comp Purposes Only"
must appear in the first line of
confidential remarks when a
listing is entered for that
purpose.
(d) Caution: Title or escrow
information may be entered into
confidential remarks; however,
members 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.
(e) See
also Regulations 9.3, 9.12,
10.2, 10.4 and 10.10 (for more
regulations regarding
Confidential Remarks).
(Effective11/01/07)
9.14.3
Property Description/Public Remarks. The
property description/public remarks field is
restricted solely to the
physical description and
condition of the property and
its amenities. Amenities are
any tangible or intangible
benefits of a property,
especially those that increase
the attractiveness or value of
the property or that contribute
to its comfort or convenience.
Tangible amenities might include
parks, swimming pools, health
club facilities, party rooms,
bike paths, community centers,
or garages, for example.
Intangible benefits might
include a “pleasant view” or
aspect, good schools, easy
access to public transportation
which add to the living comforts
of the property. Among
information that is not
permitted in Public Comments
is:
(a)
Contact information such as
names, addresses, model home
office information, phone or fax
numbers, email addresses or
website addresses or URL’s of
any kind (including such
information relating to the
listing Broker or agent);
(b)
Showing
instructions, such as references
to lockbox, alarm, gate or other
security codes, or the vacancy
of the property;
(c)
Information
directed toward real estate
agents or brokers, including
compensation or bonuses offered
to cooperating brokers;
(d)
Personal
information relating to the seller of the property; or
(e) Information relating to the purchase price of the property or the
financing thereof. (2/15/08)
9.14.4 Photograph
Areas and Virtual Media.
Photograph areas, including
photo remarks, may be used only
for their specified purpose of
displaying the subject
property. Virtual tours should
be pointed directly to a virtual
tour, and not to a company or
agent’s website. Members may
not use photographs or virtual
media from another listing
without the prior permission of
the previous listing agent.
9.14.5 HUD
Discriminatory Terms. Federal
and state law and Housing and
Urban Development regulations
prohibit the use of certain
discriminatory terms and
actions. Members are expected
to be aware of these terms, and
are prohibited from the use of
these terms in the MLS Database.
9.15
Change of Listing Information.
Listing brokers shall report any
change in the original listing
agreement to BAREIS within
three
Business Days. By reporting
changes, the listing broker
represents that the seller has
authorized the listing
modification in writing or that
the listing broker has obtained
other legally sufficient written
authorization to make the
changes.
(Effective
11/01/07)
9.16 Processing
of Changes in
Listings. Changes in listings
may be submitted to BAREIS on
change forms, or directly
entered by the Member
into the MLS Database. Change
forms must be complete.
Incomplete change forms will be
returned to the listing broker
for completion. Change forms
covering listings originally
loaded by BAREIS into the MLS
Database are processed by BAREIS
at no charge. Change forms
covering listings originally
loaded into the MLS Database by
Members are processed by BAREIS
for a fee.
9.17
Reporting of Sales. Contingent
sales, pending sales, failed
sales, closed sales and referred
sales shall be reported to
BAREIS by the listing broker as
soon as practicable, but in no
event later than
three
Business
Days after their occurrence.
(Effective
11/01/07)
9.17.1 Contingent
and Pending Sales. Contingent
and pending sales shall be
reported after receipt by the
listing broker of the actual
notice of sale, whether from a
cooperating broker or otherwise.
9.17.1 Contingent
Sales. Listings with accepted
offers by the seller with
contingencies or conditions (ie:
lender’s approval, inspections,
release clauses, etc.) shall be
reported to the MLS as
“Contingent” by the listing
broker with no final selling
price or terms prior to the
final closing. (5/19/08)
9.17.2 Pending Sales.
Listings with accepted offers
without contingencies shall be
reported to the MLS as “Pending”
by the listing broker with no
final selling price or terms
prior to the final closing.
(5/19/08)
9.17.2
9.17.3
Failed Sales.
The listing broker shall report immediately to
BAREIS the cancellation of
any contingent or pending sale
and the listing shall be
reinstated immediately as long
as there is still a valid
listing.
19.17.3
9.17.4
Closed Sales. “Closed Sales”
(“Sold”) is defined as completed
transactions where escrow has
closed and title to the property
has been transferred, or, in the
case of a lease, where the lease
agreement has been signed by the lessor and the lessee.
9.17.4
9.17.5
Referred Sales. When a listing
offers referral fees instead of
selling commissions, the Member
that introduces the resulting
buyer to the listing broker
shall be deemed the selling
Member for reporting purposes.
9.18
Comparable Listings. For
properties entered for
comparable purposes only, the
listing broker or cooperating
broker must secure written
approval from the seller or
buyer to enter the sales
information into the MLS
Database and fax a copy of that
written approval from the seller
or buyer to BAREIS within
three
business days of entering the
listing. Additionally, the
listing must be entered into the
MLS Database within 10 days
close of escrow.
(Effective
11/01/07)
9.19 Withdrawal of Listing
Prior to Expiration. Listings
of property may be withdrawn
from the MLS Database by the
listing broker before the
expiration date of the listing
agreement, provided notice is
obtained by the listing broker
from the seller authorizing the
withdrawal. BAREIS reserves the
right upon request to receive a
copy of written authorization
from the listing broker.
9.20 Expiration, Extension
and Renewal of Listings;
Days On Market.
The
listing broker shall obtain
written authorization from the
seller before filing any
extension or renewal of a
listing. Any renewal or
extension filed with BAREIS
fewer than 30 calendar days
after the expiration date of the
original listing shall be
treated as an existing listing.
9.20.1
Extensions and
Renewals. The listing broker
shall obtain written
authorization from the seller
before filing any extension or
renewal of a listing.
9.20.2
Days on Market.
For the purpose of determining
days on market, any renewal or
extension filed with BAREIS
fewer than 10 calendar days
after the expiration date of the
original listing shall be
treated as an existing listing.
9.20.3
Cumulative Days
on Market (CDOM). CDOM applies
to the total length of time a
property is on the market,
whether pursuant to a single
listing or multiple listings,
and continues to accumulate days
on market for the property until
the property is sold. For the
purpose of determining CDOM, if
the property is
withdrawn/cancelled, or expired
for 30 days or more, CDOM will
reset to zero if replaced with a
new listing. (5/19/08)
9.21 Solicitation of Listing
Filed with BAREIS. Members
shall not solicit a listing with
respect to properties listed in
the MLS Database during the term
of a valid existing listing
agreement, provided that this
prohibition shall in no way
limit the right of any Member to
solicit listings through general
advertising
9.22 Listings of Members
Suspended or Expelled. When a
Participant resigns or is
suspended or expelled from
BAREIS, the Participant’s
listings in the MLS Database at
the time of such termination
shall, at the terminated
Participant’s option, be
retained in the MLS Database
until sold, withdrawn, or
expired, but shall not be
renewed or extended by BAREIS
beyond the expiration date of
the listing agreement in effect
when the termination became
effective. It shall be the
responsibility of the listing
broker to notify any principal
that the listings are no longer
in the MLS Database.
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