It is unrealistic, problematic and makes MLS very responsible for determining alternative listing agreements in this way. The rules currently provide that MLS must accept the exclusive right to sell list contracts and exclusive agency list contracts and may accept other forms of agreement. In addition, the mls committee has carefully reviewed our current regulations, and the service rules always refer to the “broker listing.” It is clear that only a broker can enter a list into the Multiple Listing Service database. While many will argue that the term is inherently contradictory, a co-exclusive listing is when two independent, licensed brokers act jointly as listing fiduciary brokers. The MLS Board of Directors has conducted extensive research on the issue of co-exclusive listings and their legality in Massachusetts, as well as their acceptance into our multi-listing service database. Here are the results: Yes to both! Rest assured, there is absolutely nothing in state law or in our code of ethics that prevents any agency from entering into such an agreement on co-listing. It`s just an alternative business deal. Also remember that open listings are also valid under state law, the ethical and acceptable business method of working as a trustee of a real estate seller in Massachusetts. And as you know, each business model has its pros and cons, some are displayed in MLS, others are not. If two brokers are involved, isn`t that an ipo open? Without a definition of state, we do not have a clear basis for accepting or denying exclusive co-announcements in the MLS service in Massachusetts.
It has been definitively suggested that, in order to bring the co-exclusives into the MLS, we should first decide, on a list-by-list basis, the terms of the listing agreement, so that we can preemptively consider the list as “open” or “exclusive” and hope that the courts would accept in the event of problems. There was a consensus that the service`s three co-exclusive offers can now remain unredealed for the duration of the original contract. Any listing broker can continue to use the co-exclusive list concept and extend these individual offers with sellers, but all references to the MLS deposit must be removed as the ad expires when the agreement expires. Maybe, but maybe not. Many states have defined more inclusive quotes in their real estate laws, but not Massachusetts. The National Association of REALTORS®, author of our MLS rules and regulations, has established guidelines for the acceptance or refusal of co-exclusive lists in MLS, based solely on the definition of state law. What a cucumber! For example, A multiple list service cannot regulate the type of offers that its members can accept. We can only adjust what is displayed in our database. The MLS Board of Directors has accepted the following request to accept exclusive underwriting rights from a broker, as required by the service`s current rules and regulations.