When a Broker has a Master Listing Agreement for a project such as a new sub-division or development, condos being built in phases or some other large project with multiple units/models being marketed, they will have a Master Listing Agreement with the owner to sell the properties. Master Listing Agreements contain contractual information as well as construction schedules, price ranges, model/unit descriptions and other information.
- Many times when the Broker has a Master Listing Agreement, the Listing Agent will only receive a summary sheet for the listing(s) assigned to them. Because of this, we do not require a listing agreement to be uploaded to each of these listings. However, the list agent should upload a Listing Agreement Compliance Certification (LACC) (unsigned) with the dates, etc. and a note that the master agreement is available if need be.
- The List Date on the LACC should represent the date the specific unit/model is to begin being marketing/advertising, not the Start Date on the original Master Listing Agreement.
- The Master Listing Agreement can have a range in the price field, but the Listing Agreement Compliance Certification form must have a specific price on it (per unit). It is not acceptable to have a price range on the Compliance Certification.
- In the case of a Condo, please reference the specific unit number on the Compliance Certification form.
- The MLS allows a representative sample of units/styles/models to be listed. Any subsequent units that are sold can be entered in Matrix FOR CREDIT. MLS Staff will then need to adjust dates (for DOM purposes), if necessary.
*** There is an example attached to this article designed to help you fill out the Listing Agreement Compliance Certification for a unit that is covered by a master listing agreement. ***