LISTING PROCEDURES
Section 1 LISTING PROCEDURES : Listing of real or personal
property of the following types, which are listed subject to a real estate broker’s
license, and are located within the territorial jurisdiction of the Kerrville Board
of REALTORS®, MLS (Throughout this document MLS refers to the Kerrville Board of
REALTORS®’ MLS, and are taken by Participants on Listing Agreements provided by
the Multiple Listing Service or any form which meets the requirements in Notes 1
and 2 below shall be delivered to the Multiple Listing Service within seventy-two
(72) hours after all necessary signatures of seller(s) have been obtained:
(a) Single-family homes for sale or exchange.
(b) Vacant lots and acreage for sale or exchange.
(c) Two-family, three-family, and four-family residential buildings
for sale or exchange.
A fine of $10.00 a day will be levied for all listings found in violation of this
time limit.
(NOTE 1) The Multiple Listing Service shall not require a Participant to submit
listings on a form other than the form the Participant individually chooses to utilize
provided the listing is a type accepted by the Service, although a “Property Data
Form” may be required as approved by the Multiple Listing Service. However, the
Multiple Listing Service, through its legal counsel, may:
1. Reserve the right to refuse to accept a listing
form which fails to adequately protect the interest of the public and the PARTICIPANTS;
2. Assure that no listing form filed with the Multiple
Listing Service establishes, directly or indirectly, any contractual relationship
between the Multiple Listing Service and the client (buyer or seller).
The Multiple Listing Service shall accept exclusive right to sell listing contracts
and exclusive agency listing contracts, and may accept other forms of agreement
which make it possible for the listing broker to offer cooperation and compensation
to the other Participants of the Multiple Listing Service acting as subagents, buyer
agents, or both.
The listing agreement must include the seller’s written authorization to submit
the agreement to the Multiple Listing Service. (Amended 11/96)