Statistical Entry Only
Posted by PRO Sat, 25 Mar 2006 16:11:29 GMT
A “sold” property that was not listed in the MLS. It is reported for statistical purposes only.
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Table of Contents - Click here to hide
- Statistical Entry Only
- Status Change Form
- Subscriber
- Transaction Broker
- Twenty-four (24) Hours
- add/edit capability:
- buyer broker:
- client:
- comparable:
- customer:
- dual-rate commission:
- listing fee:
- principal:
- resigned:
- seller:
- Service:
- service charge or fee:
- special arrangements:
- Thompson broker:
- variable-rate commission:
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Status Change Form
Posted by PRO Sat, 25 Mar 2006 16:12:06 GMT
A form used to notify the MLS of changes in status or terms and conditions of the listing.
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Subscriber
Posted by PRO Sat, 25 Mar 2006 16:12:42 GMT
A real estate licensee or appraiser who is not a principal broker but who is a sales associate; broker associate; or a licensed, certified, or registered appraiser who is affiliated with an MLS Participant. Subscribers are under the direct supervision of the MLS Participant. Subscribers are subject to and must comply with all the MLS rules and regulations, payment of applicable fees and charges, and the limitations and restrictions of state law.
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Transaction Broker
Posted by PRO Sat, 25 Mar 2006 16:13:23 GMT
A legal brokerage relationship in which the broker provides limited representation to a buyer, a seller, or both in a real estate transaction, but who does not represent either party in a fiduciary capacity or as a single agent. 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; single agent or nonrepresentative broker.
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Twenty-four (24) Hours
Posted by PRO Sat, 25 Mar 2006 16:13:55 GMT
A time frame of not more than one business day.
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add/edit capability:
Posted by PRO Sat, 25 Mar 2006 16:24:07 GMT
A privilege given to qualified Participants and qualified Subscribers, by written request of the Participant, allowing then to add and change listing information in the MLS system.
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buyer broker:
Posted by PRO Sat, 25 Mar 2006 16:25:12 GMT
A broker who represents, as a fiduciary, a buyer principal in a transaction as a single agent and may not represent both the buyer and the seller in the same transaction.
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client:
Posted by PRO Sat, 25 Mar 2006 16:26:00 GMT
The term used by the National Association of Realtors® for buyers and sellers who are represented by single agents. This term is synonymous with the term principal as defined by Florida law.
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comparable:
Posted by PRO Sat, 25 Mar 2006 16:26:53 GMT
Properties that have sold and closed (sold/closed status).
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customer:
Posted by PRO Sat, 25 Mar 2006 16:27:35 GMT
A member of the public who is or may be buyer or seller of real estate and may or may not be represented by a real estate licensee in a legal brokerage relationship.
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dual-rate commission:
Posted by PRO Sat, 25 Mar 2006 16:28:12 GMT
A dual commission arrangement is a type of exclusive right-to-sell or exclusive brokerage listing in which the seller agrees to compensate the listing participant at a rate higher than if the seller finds the buyer himself.
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listing fee:
Posted by PRO Sat, 25 Mar 2006 16:28:43 GMT
A charge to a Participant who does not enter his own listings that is established by PRO for clerical services for entering, renewing, or modifying a listing
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principal:
Posted by PRO Sat, 25 Mar 2006 16:29:15 GMT
The buyer or seller with whom a real estate licensee has entered into a single-agent relationship. The term is synonymous with the term “client” as defined by Florida law.
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resigned:
Posted by PRO Sat, 25 Mar 2006 16:29:45 GMT
Participants are considered to have resigned when they notify the MLS in writing that they are resigning from the MLS.
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seller:
Posted by PRO Sat, 25 Mar 2006 16:30:24 GMT
One or more persons selling their personal real estate
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service charge or fee:
Posted by PRO Sat, 25 Mar 2006 16:31:00 GMT
Participation fees, data input fees, reinstatement fees, fines, and other sums assessed to MLS Participants to defray the cost of the MLS
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special arrangements:
Posted by PRO Sat, 25 Mar 2006 16:31:55 GMT
dual/variable commission arrangements or named prospects exempted
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Thompson broker:
Posted by PRO Sat, 25 Mar 2006 16:32:00 GMT
Thompson brokers are principal brokers who do not hold membership in this Association or any other REALTOR® Association. They do hold a valid real estate license. They are eligible to become Participants in the Multiple Listing Service. The term references the Eleventh Circuit Court ruling in Thompson vs Metro Multilist, Inc.
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variable-rate commission:
Posted by PRO Sat, 25 Mar 2006 16:33:00 GMT
A variable rate commission arrangement is a type of exclusive right-to-sell or exclusive brokerage listing in which there are three or more levels of commission. The highest level of commission is paid if the property is sold through the efforts of a cooperating broker. A lower level is paid if the listing participant sells it in-house. An even lower rate is paid if the seller finds the buyer.
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