(A) Participants or their affiliated licensees shall not reproduce any compilation or any portion thereof except for the reproduction and distribution to prospective customers and clients of a reasonable number of single copies of listing data contained in the Compilation relating to any properties in which prospective purchasers are, or may, in the judgment of the Participant or their affiliated licensees, be interested. The term “reasonable,” as used herein, should be construed to permit only limited reproduction of listing data as required to facilitate the prospective customer’s or client’s decision-making process with respect to properties in which the customer or client has a bona fide interest or in which the Participant is seeking to promote interest. Factors which shall be considered in deciding whether the reproductions are reasonable in number shall include, but are not limited to, the total number of properties in the Compilation, how closely the types of properties contained in such listings accord with the prospective purchaser’s expressed desires and ability to purchase, whether the reproductions were made on a selective basis, and whether the type of properties contained in the listing data is consistent with a normal itinerary of properties which would be shown to the prospective purchaser.
(B) Reproductions made in accordance with this section shall be prepared in such a fashion that the listing data of properties other than those in which the prospective purchaser has expressed interest, or in which the Participant or the affiliated licensees are seeking to promote interest, does not appear on such reproduction.
(C) Nothing contained herein shall be construed to preclude any Participant from utilizing, displaying, distributing, or reproducing property listing sheets or other presentations of data pertaining exclusively to properties currently listed for sale with the Participant.
(D) Any real property listing information submitted to the Service, whether submitted in written or printed form, electronically, or in any other form or format, is provided for the exclusive use of the Participant and those licensees affiliated with the Participant who are authorized to have access to such information. Such information may not be transmitted, retransmitted, or provided in any manner to any unauthorized individual, office, or firm.
(E) None of the foregoing shall be construed to prevent any individual legitimately in possession of current listing information, “sold” information, “comparables,” or statistical information from utilizing such information to support valuations on particular properties for clients and customers. Any MLS content in data feeds available to participants for real estate brokerage purposes must also be available to participants for valuation purposes, including automated valuations. MLSs must either permit use of existing data feeds, or create a separate data feed, to satisfy this requirement. MLSs may require execution of a third-party license agreement where deemed appropriate by the MLS. MLSs may require participants who will use such data feeds to pay the reasonably estimated costs incurred by the MLS in adding or enhancing its downloading capacity for this purpose. Information deemed confidential may not be used as supporting documentation. Any other use of such information is unauthorized and prohibited by these Rules and Regulations.