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. Unit characteristics should be detailed within the listing agreement or as an attached addendum. Any subsequent units that are sold can be entered in SmartMLS 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. ***
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