Table of Contents - Click here to hide
Pages: 1 2
Posted by PRO Sat, 25 Mar 2006 15:39:00 GMT
An unlicensed individual under the direct supervision of an MLS Participant or Subscriber who performs only administrative and clerical tasks that do not require a real estate license or an appraiser’s certificate, registration or license.
Posted by PRO Sat, 25 Mar 2006 15:42:00 GMT
In the MLS, these terms are used together to describe the offer of compensation. “Blanket” indicates that the listing broker is making offer of compensation to any broker who participates in the MLS. “Unilateral” indicates that the listing broker makes the compensation offer unconditionally.
Posted by PRO Sat, 25 Mar 2006 15:45:57 GMT
The term “MLS compilation,” is all the formats in which property listing data is collected and disseminated to the system users, including but not limited to, printed publications, computer database, Internet database, IDX databases, photos, reports, or any other format.
Posted by PRO Sat, 25 Mar 2006 15:46:39 GMT
The Participant/Broker who assists the listing Participant/Broker by bringing the buyer to the real estate transaction. The cooperating Participant/Broker is also known as the selling Participant/Broker.
Posted by PRO Sat, 25 Mar 2006 15:47:33 GMT
An exclusive brokerage listing contract is an agreement in which the seller agrees to pay a commission to the listing broker if the property is sold through the efforts of any broker. If the property is sold solely through the efforts of the seller, the seller is not obligated to pay a commission to the listing broker.
The exclusive brokerage listing contract may be further defined as a Limited Service Listing Agreement.
Posted by PRO Sat, 25 Mar 2006 15:48:14 GMT
An exclusive right-to-sell contract is an agreement in which the seller agrees to pay a commission to the listing broker whether the property is sold through the efforts of the listing broker, seller, or cooperating brokers, except that the seller may name one or more individuals or entities as an exception in the listing contract (exclusion). If the property is sold to an exempted individual or entity, the seller is not obligated to pay a commission to the listing broker. Exclusions and variable commission rates must be noted in the MLS.
Posted by PRO Sat, 25 Mar 2006 15:49:19 GMT
The entering of listing information into the MLS database by MLS office staff or by authorized Participants, Subscribers, and Administrative Users.
Posted by PRO Sat, 25 Mar 2006 15:49:57 GMT
A time frame of not more than 2 business days.
Posted by PRO Sat, 25 Mar 2006 15:50:35 GMT
A program in which brokers give each other permission to display active listings on each other’s public Web sites.
Posted by PRO Sat, 25 Mar 2006 15:53:00 GMT
A Limited Service Listing Agreement is an Exclusive Brokerage listing contract in which the listing broker will not provide one or more of the following services:
Posted by PRO Sat, 25 Mar 2006 15:53:43 GMT
An agreement between a real estate broker and property owner (or authorized representative) to sell real property. The contract specifies the duties of both the parties in the sale of the owner’s real property.
Posted by PRO Sat, 25 Mar 2006 15:54:27 GMT
The Participant/Broker who contracts with a property owner to solicit and procure offers to purchase the property according to the terms and conditions of the listing agreement.
Posted by PRO Sat, 25 Mar 2006 15:56:57 GMT
A multiple listing service is:
Posted by PRO Sat, 25 Mar 2006 15:57:48 GMT
A legal brokerage relationship in which brokers do not represent either buyers or sellers in a transaction. Under Florida law all brokers are presumed to be transaction brokers unless the client or customer requests in writing to have another form of representation; that is, single agent or nonrepresentative broker.
Posted by PRO Sat, 25 Mar 2006 16:07:14 GMT
An exclusive listing that the seller has requested in writing not be disseminated through the MLS.
Posted by PRO Sat, 25 Mar 2006 16:07:53 GMT
A listing type in which multiple brokers can try to find a buyer for a property, but the seller will compensate only the broker who brings the successful buyer. This listing may be given to many brokers at the same time, but only one will be compensated. The MLS does not accept open listings.
Posted by PRO Sat, 25 Mar 2006 16:08:00 GMT
The designated principal broker of a company. The principal broker must hold a valid real estate broker’s license and must be able to offer and accept cooperation and compensation from another Participant. There can only be one Participant per company. The MLS Participant is responsible for ensuring that all affiliated Subscribers comply with the rules, regulations, and policies of the MLS. The MLS Participant’s MLS fee is based on the total number of Subscribers affiliated with him/her as well as registered Administrative Users.
Posted by PRO Sat, 25 Mar 2006 16:09:21 GMT
The data input form prescribed by the MLS that the Participant must complete and use to enter property information into the MLS database.
Posted by PRO Sat, 25 Mar 2006 16:10:13 GMT
The Participant/Broker who secures the buyer. Also known as the cooperating Participant/Broker.
Posted by PRO Sat, 25 Mar 2006 16:10:53 GMT
A legal brokerage relationship in which the broker represents, as fiduciary, either the buyer or the seller, but not both, in the same real estate transaction. Under Florida law all brokers are presumed to be transaction brokers unless the client or customer requests in writing to have another form of representation; that is, single agent or nonrepresentative broker.
Pages: 1 2