Firm Exclusive Listings
Where a valid listing agreement exists between the listing broker and seller, and seller has directed the listing broker to not publicly marketing and to not disseminated through the Service to other MLS Participants and Subscribers, the Participant may then take the listing as an office exclusive exempt listing (“Firm Exclusive Listing”) and such listing shall be filed with the Service, but not disseminated to other MLS Participants. The filing of an Firm Exclusive Listing must be accompanied by a certification (Firm Exclusive Addendum or substantially similar) signed by the seller, obtained by the listing broker, which includes:
(a) Disclosure about the professional relationship between the Participant and the seller;
(b) Acknowledgement that the seller understands the MLS benefits they are waiving or delaying with the Firm Exclusive Listing, such as broad and immediate exposure of their listing through the MLS; and
(c) Confirmation of the seller’s decision that their listing not be publicly marketed and disseminated by the Service to other MLS Participants and Subscribers as an Firm Exclusive Listing.
Upon demand, the Board of Directors of each Association or Triad MLS shall have the right to review the original listing contract.
NOTE: If the MLS Participant publicly markets the Firm Exclusive Listing, it is subject to Section 1.01, Clear Cooperation, and the MLS Participant must distribute the listing within one (1) business day of the public marketing.
NOTE: A Firm Exclusive Listing is the equivalent of an “Office Exclusive Listing” in national policy.