ADDvantage® Real Estate Network
Flat Fee Multiple Listing Service (MLS) Agreement to List and Maintain Real Properties
Builder's ADDvantage™ MLS Flat Fee Listing Exclusive Agency Listing Agreement
This is a sample listing agreement. Any commissions, bonuses, dates, etc that are shown will be changed based on data input by the seller during the sign-up process.
1) Purpose:
This is Exclusive Agency listing agreement whereby SELLER is paying ADDvantage® Real Estate Network (BROKER) a flat fee of $299 to provide an MLS listing service consisting of limited representation(SELLER is self-represented in all showings and negotiations).
SELLER acknowledges that BROKER will place said property into the selected MLS under an Exclusive Agency listing which means that SELLER can only list said property with one broker.
As well, Exclusive Agency allows the SELLER to sell the property directly to a buyer, thus avoiding the co-brokerage commission of 3.0% as stated in the MLS.
2) Legal Capacity and Right:
This AGREEMENT is to be entered into by person(s) of legal capacity to convey real property and have the appropriate legal right to convey such property listed in the AGREEMENT.
3) Parties to the Agreement:
This AGREEMENT is entered into between the SELLER of real property located at and ADDvantage® Real Estate Network.
4) Services Provided by BROKER:
This AGREEMENT is entered into with the understanding that subject property is to be listed in the MLS for a flat fee which includes the following:
A) Leads:
All leads received from any source will be managed and recorded in SELLER's account by the following protocol:
i) Informing caller of SELLER's contact phone numbers
ii) Following the showing instructions as provided by SELLER
iii) All leads will be documented in SELLER account under “Buyer Leads” section, located within MY ACCOUNT.
B) Listing Changes:
i) SELLER is limited to 3 price changes per 30 day period (at no additional charge), in an effort to comply with local MLS board rules that track and limit excessive price changes as a means of triggering MLS “hot sheet” reports.
ii) Any changes to listing, other than price and commission, will be limited to one round of changes* per 30 day period at no additional cost to SELLER.
iii) Any additional requests for changes beyond the one free round of changes per 30 day period (Item above), will be charged to SELLER at $20 per round of changes.
* SELLER can make as many changes as necessary at no charge (one time per 30 day period) BUT must complete all change requests at the same time.
5) Term of Agreement and Right to Cancel:
The term of this AGREEMENT will begin on the 19th day of May , 2012 , (or date of MLS Listing Entry) and terminate at 11:59 p.m. the 19th day of May , 2013 (or 12 months from listing start date).
If the property is not sold before the listing expires, SELLER may opt to extend the listing for an extra 1 year for a discount of 20% off of your original service price.
If listing agreement with BROKER expires while subject property's listing status is contract pending, then BROKER agrees to extend listing period for a period of 60 days.
This extension includes an administrative fee of $25, to be paid at each 60 day extension period, as well as all current terms and conditions until such time as the property closes or the termination of such contract.
This agreement can be cancelled by SELLER anytime* by providing written notice to BROKER.
BROKER will terminate MLS listing within 24 hours.
To Request termination:
To Request termination:
A) Using your user name and password go to My Account, then Listing Status, and click on the link for Withdraw/Off-Market. Use the provided form;
B) or, fax your request to 866-420-8957;
C) or, write us @ ADDvantage® Real Estate Network, 1515 Carillon Street, Holiday, FL 34691.
* SELLER cannot cancel AGREEMENT if there has been an executed contract, which is pending closing.
SELLER(s), please initial here: ; ; ; .
6) This Agreement is Governed by:
A) All State and Federal Laws regarding housing including but not limited to: Civil Rights Act of 1856 and 1968 (Fair Housing ACT), Equal Housing Laws and in particular to the equal and unbiased showing of property regardless of race, color, religion, sex, handicap, familial status or national origin.
B) All rules and regulations of the Multiple Listing Service (MLS).
C) The terms and conditions of the ADDvantage® Real Estate Network found at http://www.getmoreoffers.com/terms.asp
7) Price:
This Property is being listed for sale for: $.
This price was solely determined by the SELLER.
8) Personal Property:
Included in the sale of this real property are items of improvements, fixtures, appliances, and attached items listed here:
, ,
, , ,
, , .
9) Broker Obligations, Authority, and Compensation:
A) SELLER authorizes BROKER to list property in the MLS, ADDvantage® Real Estate Network's proprietary websites, Realtor.com, real estate publications, and other real estate websites for the purpose of procuring SELLER a buyer, and to provide sales information including selling price to the MLS upon sale of the Property.
B) BROKER will advertise price, terms of sales, property description, and pictures as provided by SELLER or through an unbranded virtual tour purchased by SELLER.
C) SELLER's ONLY compensation to BROKER for this service is a flat fee of $299.
D)
MLS Commission Offer: SELLER is offering 3.0% commission in the MLS and SELLER is offering $0 bonus to procuring Realtor®/licensee. SELLER is authorizing BROKER to offer this commission/bonus by means of this listing agreement and further authorizes BROKER to advertise such commission/bonus offer in the MLS on behalf of SELLER to Realtors® in an effort procure a buyer for Property. If a sales contract is fully executed by BUYER/SELLER or if SELLER, by means of any agreement, transfers title of Property to another party in which a Realtor® was the procuring cause by evidence that the Realtor's® name is on the sales contract, and successfully closes transaction, SELLER gives broker the authority to inform the title company/closing agent or
lawyer representing SELLER to include such commission/bonus, exactly as stated in the MLS, on the HUD1 settlement statement, as an item to be paid by SELLER, and gives the closing agent such authority to disburse said commission/bonus to the procuring Realtor® at closing. The only exception to this would be if SELLER and Realtor® have agreed to other commission/bonus terms than what is being advertised in the MLS by attaching this language as an addendum to the final contract (see “Change of Commission Addendum.”)
SELLER(s), please initial here: ; ; ; .
SELLER(s), please initial here: ; ; ; .
E) SELLER agrees to compensate licensed agents (co-broker commission) as follows:
i) Any licensed agent that is so recognized as the “selling agent” on a purchase and sales contract (paid at closing)
ii) Any licensee that is awarded a commission (against BROKER) through a court having such jurisdiction or through a MLS arbitration hearing which is the result of a commission dispute where a SELLER is found to be liable in circumventing the payment of a commission to a licensee who proves be the true procurer of the sale.
F)
The SELLER may elect to use Agent Activate® service at any time.
(http://www.commercialaddvantage.com/agent-activate.asp)
If SELLER elects to use the Agent Activate® service, an ADDvantage® agent or one of its Agent-Activate® affiliates may show and subsequently sell SELLER's Property to unrepresented buyers and earn the offered buyer's agent commission of 3.0% as approved by SELLER.
G) BROKER carries Errors and Omissions Insurance.
H) Once a property is listed in the MLS, there are no refunds or partial refunds.
SELLER(s), please initial here: ; ; ; .
SELLER(s), please initial here: ; ; ; .
10) SELLER'S Rights, Obligations, and Risks:
A)
If there is a Real Estate Agent involved in the transaction with SELLER, then it is the SELLER's sole responsibility to verify and confirm that the Real Estate Commission, also known as the co-broke, published in the MLS is the same as the commission represented in the sales contract. It is the SELLER's sole responsibility to insure that the sales commission percentage or dollar amount be written into the sales contract to insure that there is no confusion on the commission being paid to the agent responsible for the sale.
SELLER(s), please initial here: ; ; ; .
SELLER(s), please initial here: ; ; ; .
B) If SELLER negotiates with a buyer's agent/Realtor® and lowers the previously agreed and advertised co-brokerage commission of 3.0% , then SELLER should use BROKER approved Commission Adjustment Form. This Form can be found under Seller Forms/Commission Adjustment Form on our forms page (http://www.getmoreoffers.com/forms.asp). Failure to use this proper form can result in a claim against SELLER for the difference between the advertised commission of 3.0% and the newly agreed commission. By signing below, the SELLER expressly understands that failure to use this important form could result in BROKER holding the SELLER responsible for additional commissions should an arbitration action be brought against BROKER by the buyer's agent's brokerage firm.
C) SELLER is the contact person, in the MLS, responsible for all showings, appointment settings, and incoming phone calls from interested real estate agents, brokers, general public and others. SELLER should make all reasonable efforts to make available the property to be shown at reasonable times.
D) If SELLER elects to use a lock box (Supra or standard combination), SELLER accepts responsibility for items stolen from property. Risk of theft is greater if SELLER chooses to place a lock box on property. Lock boxes are available to be purchased from BROKER at checkout. (http://www.getmoreoffers.com/accessories.asp)
E) SELLER acknowledges and accepts all risks one might encounter while showing Property to prospects and agrees to hold BROKER and ADDvantage Real Estate Network harmless of any liability resulting from showing the property.
F) SELLER can sell Property to a buyer not procured by a licensed agent and will owe no co-brokerage commission.
G) SELLER shall not advertise Property for a price lower than stated in the MLS. This does not prohibit a SELLER from negotiating a lower price and does not prohibit SELLER from verbally speaking of a lower price than advertised in the MLS when speaking to prospect. This MLS rule only pertains to printed advertisements.
H)
SELLER must report all listing status changes or closing information to BROKER within 24 hours* of a change of status (contract accepted; contract accepted/accepting backups; withdrawn/off market; sold/closed/rented) by logging into your account and clicking on “change status” and completely filling out the requested information pertaining to the pending transaction. This information is kept confidential and only accessible by you and our MLS administrators.
*Due to the strict nature of the MLS reporting requirements of Realtor members, the listing broker is held responsible for promptly reporting of all MLS listing status changes or closing information (fines up to $500 and/or possible MLS board suspension). Therefore, BROKER requires strict compliance by our SELLER/client with reporting any change of listing status or closing information. Failure to report these IMPORTANT status changes or closing information (closing price, closing agent, type of transaction, and closing date) within 48 hours will be considered a breach of this listing agreement and could result in a penalty fee of $250 to your credit card on account. SELLER(s), please initial here: ; ; ; .
*Due to the strict nature of the MLS reporting requirements of Realtor members, the listing broker is held responsible for promptly reporting of all MLS listing status changes or closing information (fines up to $500 and/or possible MLS board suspension). Therefore, BROKER requires strict compliance by our SELLER/client with reporting any change of listing status or closing information. Failure to report these IMPORTANT status changes or closing information (closing price, closing agent, type of transaction, and closing date) within 48 hours will be considered a breach of this listing agreement and could result in a penalty fee of $250 to your credit card on account. SELLER(s), please initial here: ; ; ; .
I) To report status changes: go to your Client Control Panel on ADDvantage® Real Estate Network's website (www.getmoreoffers.com/userhome.asp and choose status change) and check appropriate box. Our system will ask you for details necessary to make the change in the MLS. A confirmation of your change will be emailed to you immediately.
J) Types of status changes: active, contract received, contract received/accepting backups, temporarily withdrawn, withdrawn off-market, sold/closed, rented. For more information on these statuses, please see our website.
K)
SELLER should provide buyer with all notices required by state and federal laws including but not limited to:
i) SELLER'S DISCLOSURE STATEMENT. This disclosure allows the SELLER an opportunity to bring forward any material defects and other information to the attention of the buyer. (Optional)
ii) Rules and Regulations part of the deed restrictions (if applicable).
iii) Radon Gas Warning. (Optional)
iv) Pre-1978 Lead based Paint Disclosure Notice (required by federal law)
a) In order to stay in compliance with this federal regulation and to protect our clients, it is required for all clients who list homes built in 1978 or before to have filled out the Lead Paint Disclosure form, located in your client control panel. This is a simple form that you can fill out and sign electronically. Any client with a house that was built pre-1978, who does not have this form on file, will not be able to execute a contract with a tenant or buyer until this form is disclosed properly. **Failure to sign this form within 5 days of listing will result in a fine of $250 charged to your credit card on your account.
** Note: These forms and others can found at http://www.getmoreoffers.com/forms.asp.
L)
SELLER holds ADDvantage® Real Estate Network, ADDvantage Real Estate Network, its agents, brokers, affiliates, heirs, employees, owners, assignees and shareholders not accountable and indemnifies the same from loss, damages, costs, fees, or attorney fees from any person, companies, or other entities that BROKER incurs because of:
i) SELLER'S negligence, representations, misrepresentations, false statements, misleading statements, actions or inactions;
ii) The existence of undisclosed material facts about the property or,
iii) If a court or MLS Board arbitration decision states that a broker was not compensated correctly, it is the obligation of the SELLER to pay all fines, fees, or commissions associated with the decision.
SELLER(s), please initial here: ; ; ;
M) If SELLER's property goes under contract, this agreement remains in full effect through and until property is closed and title is transferred.
N) BROKER will send email verification immediately upon SELLER's property being inputted into the MLS. This notification allows the SELLER to verify and edit any factual data errors or typos. If so, SELLER may respond to email verification within 72 hours of receipt, notifying BROKER of such errors. Errors will be corrected within 24 hours. If SELLER fails to respond to email verification, BROKER will deem SELLER's listing as accurate.
11) Miscellaneous:
ADDvantage® Real Estate Network recommends that SELLERS seek the advice of a Real Estate Attorney to handle closings.
ADDvantage® Real Estate Network recommends that SELLERS seek the advice of a Real Estate Attorney to handle closings.
12) SELLER Notification Information:
| Primary Contact Number | (***-***-****) | ||
| Home Telephone: | Work Phone: | ||
| Mobile Telephone: | Facsimile: | ||
| Email: | Alternate Email: | ||
| Mailing Address: | |||
13) SELLER Acceptance of Agreement:
All persons or entities authorized to sell this property and/or have ownership interest must sign this agreement and including those persons duly authorized to act as representatives for the SELLER and such persons having certified that they are legally authorized to enter into this agreement.
If you do not fully understand this contract, consult an attorney before you sign it.
By signing below, SELLER understands and agrees to all of the terms and conditions of this Agreement and acknowledges receipt of a copy within 24 hours of acceptance by BROKER.
I am the
* for property located at
Signature: Date:
(Type Name)
Signature: Date:
(Type Name)
I am the
* for property located at
Signature: Date:
(Type Name)
Signature: Date:
(Type Name)
I am the
* for property located at
Signature: Date:
(Type Name)
Signature: Date:
(Type Name)
I am the
* for property located at
Signature: Date:
(Type Name)
Signature: Date:
(Type Name)
* Describe your position (owner, partner, president, V.P., attorney, power of attorney, other)
| Signature (Type Name) | Date |
| Signature (Type Name) | Date |
| Signature (Type Name) | Date |
| Signature (Type Name) | Date |
Print Agreement