Section 1.8 Listing Multiple Unit Properties
All properties which are to be sold or which may be sold separately must be indicated individually in the listing and on the Property Data Form except when the property is in a subdivision owned by a single entity.
i. The following rule applies when there are twenty-five (25) or more properties. The Service Participant may group improved or unimproved properties on one Property Data Form indicating multiple properties are available in the “Marketing/Public Remarks” section. When part of a listed property has been sold, proper notification must be given to the Service.
Example #1: A new subdivision has 31 lots or condos or single family homes. 5 are priced at $199,500; 12 are priced at $222,500; 14 are priced at $225,000. You may choose to have only three Listing in the Service with the number of properties available showing in the “Marketing/Public Remarks”. Example #2: A new subdivision has 31 lots with a variety of prices, the lowest price being $19,500 and the highest being $25,000. You may place the lowest lot on one Property Data Form and the highest on another Property Data Form. In the “Marketing/Public Remarks Section” of each you must specify that there are lots available within the price range of $19,500 to $25,000. CAVEAT: You must submit a lot as “Under Contract” and you must modify the active Service Property Data Form(for example: instead of 15 lots there are now 14 available) each time a lot is placed “Under Contract”. Failure to do both would be a violation of the Rules.
ii. Properties may also be grouped by a Parent-Child relationship.
EXAMPLE: The Property has a house on one of the two lots contained in the deed. The Seller will sell them together or separately. The house would be added under the Residential section; the additional lot under Land. The Marketing/Public Remarks would specify the other MLS number of the Parent or Child listing indicating the pricing if sold together or separately.
Section 1.1 Types of Properties
The following are some of the types of properties that may be published through the Service, including types described in Section 1 that are required to be entered the Service and other types that may be entered the Service at the Participant's ...
Section 1 Listing Procedures:
Listings 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 Service Area* of the multiple listing service, and are taken by participants on exclusive right to ...
Section 1.2.3 Blanket Listing Agreements.
A Blanket Listing Agreement is defined as an agreement between the developer/builder and a firm/broker to sell multiple properties within a PUD or subdivision. Within 3 days of the effective date, the blanket listing agreement must be submitted to ...
Section 4.3 Solicitation of Listing Entered into the Service:
Participants shall not solicit a listing on property filed with the Service unless such solicitation is consistent with Article 16 of the REALTORSÒ Code of Ethics, its Standards of Practice, and its Case Interpretations. (M) This section is to be ...
Multiple listings that contain the same property address OR Tax Identifier number and are entered into the service as a Parent/Child Listing. (BOM 11/14/19)