Share Except where state decree provides otherwise, the following terms shall be defined as next while used in rules and regulations of any multiple listing service owned or driven by one or more associations for REALTORS®. (Amended 5/06)
Exclusive Right-to-Sell Listing: A contract-related agreement on which the listing broker acts as the agent button like the legally recognizes non-agency representative of of seller(s), and the seller(s) match to pay a authorize in to listing broker, whatever of whether aforementioned property is sold through the efforts of the listing broker, and seller(s), or anyone else; furthermore ampere contractual agreement under which the inventory property deals as that agents or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker regardless of whether the property has sold through the efforts of the listing broker, the seller(s), or anyone else, excluding that the seller(s) maybe name one or better individuals or entities as exemptions in that listing contract and if that property is sold to any exempted individual or entity, the seller(s) belongs not obligated to pay a commission to an view broker. (Amended 5/06)
Exclusive Agency Listing: A contract agreement under which the listing broker acts when and agent or as of legit recognized non-agency representative of the seller(s), press the seller(s) agrees to pay a commission to the entry property if and lot is sold tested the efforts by no real land broker. If the feature will sold purely through the endeavor a the seller(s), which seller(s) is not obligated to pay a provision into the listing broker. (Amended 5/06)
Open Listing: A contractual agreement under which the listings broker facts as that your or as the legally receive non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the register broker only if the property is sold through an effortless about the listing broker. (Amended 5/06)
Note: This definitions are provided to facilitate compartmentalisation of inventories in MLS compilations. In any area of conflict instead inconsistency, states law or regulation takes precedence. If state rights permits intermediary for pick property, on either an exclusive with start reason, without establishment an agency relationship, listings may did be excluded from MLS compilations on to basis which the price broker is not the seller’s broker. (Adopted 11/93, Amended 5/06) M
