ADDvantage® Real Estate Network United States Flat Fee Multiple Listing Service (MLS) Agreement to List and Maintain Real Properties
Builder's Street Smart 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.
This is an 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% (chosen by seller during sign-up) 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:
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.
Changes must be made in the following increments(based on current listing price):
a) Less than $100,000, minimum price change: $500
b) $100,000 to $250,000, minimum price change: $1,000
c) Above $250,000, minimum price change: $2,500
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 26th day of October , 2016 , (or date of MLS Listing Entry) and terminate at 11:59 p.m. the 26th day of October , 2017 (or 12 months from listing start date).
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:
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, 2515 1st Ave N, St. Petersburg, FL 33713.
* 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
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.
MLS Commission Offer: SELLER is offering 3% (chosen by seller during sign-up) 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.”)
BROKER will charge Buyer's Agent an Administration Fee, paid at closing, thus reducing the commission SELLER offers Buyer's Agent. For homes listed for less than $60,000, there is NO Administration fee.
For home listed for less than $200,000, the Administration Fee is $199; for homes listed for $200,000 or more, the Administration Fee is $299.
If property is sold without a Buyer's Agent then BROKER waives the Administration Fee.
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.
The SELLER may elect to use Agent Activate® service at any time.
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% (chosen by seller during sign-up) 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: ; ; ; .
10) SELLER'S Rights, Obligations, and Risks:
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: ; ; ; .
B) If SELLER negotiates with a buyer's agent/Realtor® and lowers the previously agreed and advertised co-brokerage commission of 3% (chosen by seller during sign-up) , 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% (chosen by seller during sign-up) 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 (unless SELLER has elected to use Agent Assure). SELLER should make all reasonable efforts to make available the property to be shown at reasonable times and agrees to be reasonably available to respond to agents and prospects in a timely manner, including maintaining an operational contact phone number, provided to BROKER. If BROKER deems that SELLER is unresponsive to agents' requests for showings and/or cannot be reached by phone for more than 3 consecutive days, BROKER has authority to temporarily withdraw the listing from MLS until SELLER responds and confirms availability at which time Broker will re-activate listing for no charge, provided it is within the original listing period.
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.
SELLER agrees to
i) Report all listing status changes or closing information to BROKER within 24 hours of a change of status (contract pending; contract pending/accepting backups; sold/closed/rented; withdrawn/off market) by logging into your account and clicking on “change status” and completely filling out the required information pertaining to the transaction. This information is kept 100% confidential and is only accessible by SELLER and our staff for purposes of reporting required info to the MLS. MLS rules prohibit falsely reporting a withdraw/or cancellation of a listing when the property is actually under contract.
Due to the strict nature of the MLS reporting requirements, the listing BROKER is held responsible for promptly reporting (within 48 hours; INCLUDING weekends/holidays) all MLS listing status changes and closing information. These mandatory MLS requirements ensure the accuracy of the MLS. Non-compliant Brokers are subject to fines up to $500 and/or possible MLS membership suspension.
ii) Once SELLER changes status to contract pending or contract pending accepting backups, (offer received and accepted), SELLER will receive an email from BROKER with subject line "Commission Verification Form" (CVF) which serves as BROKER's confirmation of the commission agreed to between BROKER, SELLER, and Realtor/Agent. If sold "privately" without an agent, then SELLER must return CVF indicating such;
iii) The final step to properly completing a transaction with GetMoreOffers.com is to provide BROKER with the "Preliminary HUD" closing statement at least 24 hours prior to closing. This HUD statement MUST contain all fees and commission due per listing agreement as confirmed in CVF. Should there be a discrepancy in the HUD and the CVF, then SELLER agrees to have Title Company/closer change HUD to properly reflect fees per CVF and Listing Agreement prior to closing and send the corrected HUD to BROKER. Upon closing, SELLER agrees to provide a copy of the Final HUD to BROKER.
Therefore, BROKER requires strict compliance by our SELLERS with reporting listing status changes, sending Preliminary HUD closing statement to BROKER prior to closing, verification that all commission and fees per Listing Agreement are correctly stated on Preliminary and Final HUD.
Failure to report required sales data information to BROKER accurately (including: sales price, contract date, estimated closing date, seller concessions [buyer closing costs, furniture, gifts], buyer name, buyer's agent contact info [name, phone, email], title company info [company name, phone, name and email address of closing agent]) within 48 hours, will be considered a breach of this listing agreement. BROKER reserves the right to charge SELLER a penalty fee of $299 to the credit card on account for noncompliance of this section.
You may view a set of typical MLS rules and policies at http://www.getmoreoffers.com/article/typical-mls-rules-and-policies.asp 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.
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 print out and sign. Once complete, simply upload signed document to your account. 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.
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:
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. Additionally, should any information given by SELLER to BROKER as evidenced in this listing agreement be untrue or false, SELLER agrees that such false reporting or errors made by SELLER are a breach of this Listing Agreement and any and all portions of this are enforceable.
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.
SELLER agrees to pay compensation amount listed in Section: “COMPENSATION” to a buyer's agent who has shown the property to a specific buyer; And that buyer subsequently enters into a contract for sale and purchase with SELLER and successfully closes transaction.
SELLER agrees that a buyer's agent who shows the property to a specific buyer thus establishes procuring cause.
SELLER agrees that any attempt circumvent a buyer's agent commission by not including the compensation in the HUD closing statement that is owed to buyer's agent who has shown procuring cause, will be considered a breach of this agreement.
Furthermore, due to BROKER's liability for commission compensation advertised in the MLS to buyer's agents, SELLER hereby grants BROKER and BROKER reserves the right to place a lien on the Property, should BROKER determine that SELLER is attempting to circumvent paying the agreed upon compensation that is rightfully due to a buyer's agent.
For purposes of this paragraph, BROKER will be treated as a party to contract signed between Buyer and SELLER.
Should BROKER incur costs or damages resulting directly from breach including board of Realtors arbitration findings regarding procuring cause and the payment of commission due, these BROKER liabilities are transferable to SELLER.
11) Title Insurance:
BROKER offers SELLER the option to use our affiliated Title Company, New Frontier Title, LLC. By signing this listing agreement, you are NOT committing to use New Frontier Title, LLC as your title company.
A) In Florida, SELLER customarily controls and pays for title policy (promulgated by the State of Florida $5.75/$1000 of sales prices) and also by protocol SELLER pays for State of Florida documentary stamps on deed ($0.70/$100 of sales price) except in Collier, Broward, Sarasota, and Miami-Dade Counties, where the buyer may be responsible for title policy.
B) Before closing, SELLER is usually required to provide evidence of clear title to the new buyer and lender. A title search and the resulting title insurance assures buyers and lenders that there are no liens on the property and identifies the balances, if any, of existing mortgages. By controlling title, the SELLER also can often control buyer's escrow utilizing New Frontier Title, LLC's escrow account to hold these buyer escrow funds. To achieve this, have the buyer's agent on page 1 of the Purchase and Sales Agreement (contract) enter (required field on the contract) New Frontier Title, LLC, 2515 1st Ave N, St. Petersburg, FL 33713 phone: 877-544-6447 fax: 888-652-6326 email: firstname.lastname@example.org . New Frontier Title, LLC is bonded & insured; underwriter is Old Republic Title Insurance Company and Alliant National Title Insurance Company.
Advantages for your consideration about using New Frontier Title, LLC
As your listing broker, there may be advantages for you to choose New Frontier Title, LLC as your preferred title company such as:
i) Often, the buyer's agent may suggest allowing them to choose the title company which may put you at a disadvantage with information flow as the title company may have a disposition favorable to the buyer;
ii) By controlling title, the SELLER also can often control buyer's escrow utilizing New Frontier Title, LLC's escrow account to hold these buyer escrow funds. To achieve this, have the buyer's agent on page 1 of the Purchase and Sales Agreement (contract) enter (required field on the contract) New Frontier Title, LLC, 2515 1st Ave N, St. Petersburg, FL 33713 phone: 877-544-6447 fax: 888-652-6326 email: email@example.com . New Frontier Title, LLC is bonded & insured; underwriter is Old Republic Title Insurance Company and Alliant National Title Insurance Company
ADDvantage® Real Estate Network recommends that SELLERS seek the advice of a Real Estate Attorney before negotiating or signing a real estate purchase and sale agreement or a lease agreement and recommends that SELLERS seek similar advice before closing any real estate transaction.
Should it be found that a member posts comments on the Internet about BROKER or ADDvantage Real Estate Network, LLC/GetMoreOffers.com or any of its employees, associates, partners, or affiliates (“Company”) via social media or other at any time during or subsequent to Agreement period that are defamatory; misleading, untruthful, half-truths, or false statements regarding their experience with Company, SELLER agrees to be bound by the process of arbitration (FS Chapter 682 “arbitration” and American Arbitration Association guidelines and practices). Should SELLER be found liable for defamation through the process of arbitration, BROKER will be automatically awarded $5,000 from SELLER/former SELLER as liquidated damages and SELLER will be required to remove post(s) or be fined $500 per day until removed.
14) Governing Law, Venue, and Waiver of Jury Trial:
This agreement will be construed under United States law.
In the event of litigation or arbitration involving BROKER in any way arising out of or relating to this Agreement, the Property, or relationship created hereunder, venue shall be exclusively in County, United States.
BROKER and SELLER hereby knowingly and voluntarily waives any right to trial by jury in any litigation.
In the event that one or more provisions in this Agreement are deemed invalid, the remaining provisions will remain in full force and affect.
16) SELLER Notification Information:
Primary Contact Number
Any notice, request, demand, consent, or other communication required to be given pursuant to this AGREEMENT shall be in writing to the address set forth below:
ADDvantage® Real Estate Network
2515 1st Ave N St. Petersburg, FL 33713
18) 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
I am the * for property located at
I am the * for property located at
I am the * for property located at
* Describe your position (owner, partner, president, V.P., attorney, power of attorney, other)