MY LISTINGS: Exempt Listings

EXEMPT LISTINGS EXPLANATION

The Listing Process and Exempt Listings

Once you have a signed exclusive listing agreement, it must be entered into Realtracs within forty-eight (48) hours with, at a minimum, an Incomplete status.

If a seller refuses to permit the listing to be disseminated by Realtracs due to legitimate privacy concerns*, the listing agent should file the listing in Realtracs as Incomplete.  This is considered an 'Exempt Listing'.

Exempt Listings CANNOT be Publicly Marketed.  If the Exempt Listing is publicly marketed, the listing agent must change the status from Incomplete to either Coming Soon/Hold or Active within one (1) business day.

• Public Marketing  includes yard signs, all social media, IDX/VOW display, email or text blasts, public website display, flyers, and general showings.Public marketing does not include word of mouth communication about a listing.If you show the listing while it is in an Incomplete status, it must be saved as Active in Realtracs within one (1) business day.  The Sellers Waver of Cooperation and Public Marketing Form must be filed with Realtracs as an attached document to any Incomplete Exempt Listing.

Q:  When am I required to enter a listing into the MLS?

Listings are required to be entered within 48 hours of the date shown on your signed listing agreement.  

Q:  Can I still market my listing in Coming Soon groups?

You are free to do whatever business practice works for you.  However, as a condition of membership with Realtracs, if you have an executed listing agreement and are marketing the property in online or digital inter-brokerage “coming soon groups" or "breakfast clubs," it must be submitted to MLS in a Coming Soon or Active status.

Q:  Can the seller exempt the listing from the MLS by putting it in writing?

Yes.  This is an Exempt Listing.  The listing broker can enter the listing into the MLS in an Incomplete Status as long as the following stipulations are met:

• The seller(s), listing broker, and listing agent must sign the Seller’s Waiver of Broker Cooperation and Public Marketing and upload the form as an attached Document to the Incomplete Listing.
• No public marketing (as defined above). Word of mouth advertising and singular showings are permitted.
• If public marketing takes place, the listing status must be changed to Active in the MLS within one (1) business day of such marketing.

Q:  Can I talk to another agent about an exempt listing?

Realtors find homes for buyers and meet their needs every day.  Word-of-mouth marketing and matching homes to buyers is not a violation of Clear Cooperation or the Exempt Listing policy and will continue as usual.

Rule Changes for Exempt Listings

Modify Section 2.9 Exempt Listings

If the seller refuses to permit the listing to be disseminated by Realtracs, Inc., the listing Participant may then take the listing, and such listing will be filed with Realtracs, Inc. within forty-eight (48) hours with a status of Incomplete. The restriction by the seller(s) against disseminating the listing via Realtracs, Inc. must be (i) substantiated in writing, (ii) signed by the seller(s), and (iii) acknowledge that exempt listings may not be publicly marketed. Realtracs, Inc. provides the “Seller’s Waiver of Broker Cooperation via MLS and Public Marketing” form for Participants’ use. This seller-authorized restriction must be included with the Incomplete listing as an attached document. This seller-authorized restriction, together with the exclusive listing agreement, shall also be maintained in the brokerage office records for the listing. The exempt listing shall not be disseminated through Realtracs, Inc. to the Participants. If the exempt listing is Publicly Marketed, then MLS Participants must modify the exempt listing within one (1) business day of the Public Marketing in accordance with Section 2.2, Clear Cooperation. A Participant’s use of “Exempt Listings” to circumvent cooperation with other Participants is prohibited.