Section 2: Types of Listings Accepted
Participants in Stellar MLS may submit the following types of listing(s) (Note: These listing agreements must include the owner(s) of record written authorization to submit the agreement to the Stellar MLS):
A. Exclusive Right of Sale: The Exclusive Right of Sale Listing in which the Listing Participant is authorized by the owner(s) of record to cooperate with other brokers. It gives the Listing Participant the right to sell the property if the property is sold by anyone, including the owner(s), within the listing period.
B. Exclusive Agency: The Exclusive Agency Listing authorizes the Listing Participant, as exclusive agent, to cooperate with other Participants, but also reserves for the owner(s) of record the right to sell the property themselves. Cooperation is the obligation to share information on listed property and to make property available to other brokers for showing to prospective purchasers and tenants when it is in the best interests of their clients.
C. Limited Service Listings:
A Limited Service listing may not reference that the listing is For Sale By Owner (FSBO) in the Public or Realtor Remarks. A Limited Service Listing is defined An arrangement where the seller contracts with the listing broker for a la carte services, and the listing broker may direct the buyer’s representative to contact the seller(s) directly for one or more of the following:
- Schedule showing appointments
- Answer questions about property
- Present offers or counteroffers
- Participate in negotiations
(Updated 10/2024)