What is a "MLS Entry Only" Listing Service?
This section in the MLS Rules & Regulations provides you a general guideline for this particular LISTING SERVICE.
Section 1.2.2 MLS ENTRY-ONLY LISTINGS:
Listing agreements under which the listing broker will not provide ANY of the following services:
(a) arrange appointments for cooperating brokers to show listed property to potential purchasers but instead gives cooperating brokers authority to make such appointments directly with the seller(s);
(b) accept and present to the seller(s) offers to purchase procured by cooperating brokers but instead gives cooperating brokers authority to present offers to purchase directly to the seller(s);
(c) advise the seller(s) as to the merits of offers to purchase;
(d) assist the seller(s) in developing, communicating, or presenting counter-offers; or
(e) participate on the seller(s) behalf in negotiations leading to the sale of the listed property
Will be identified as an MLS Entry-only Listing in MLS compilations so potential cooperating brokers will be aware of the extent of the services the listing broker will provide to the seller(s), and any potential for cooperating brokers being asked to provide some or all of these services to listing brokers' clients, prior to initiating efforts to show or sell the property.
Listing Service-related instructions must be disclosed in the Agent Remarks section of the MLS. IF a Listing Broker wants to provide one or more of the above services, please review a Limited Service Listing Option (Section 1.2.1).
Reminders:
- An Exclusive Right-to-Sell or Exclusive Agency Listing Contract is required.
- Once the Listing Contract is executed, input the listing as Active within 4 calendar days.
- When an offer has been accepted, disclose the contract acceptance date by changing the status to In Escrow-Showing or Not Showing.
- Once escrow closes, report the listing as sold within 4 calendar days from recordation.
- You are not allowed to market a listing in the MLS for FSBO properties. The only time a FSBO transaction is entered into the MLS is when a BUYER’s agent requests input after escrow closing. For input instructions, please contact the MLS Client Care Team at techsupport@hicentralmls.com / 808-791-3789.