RULES & REGULATIONS CENTRAL TEXAS MLS, INC TABLE OF CONTENTS TABLE OF CONTENTS ........................................................................................................................................................... 1 PURPOSE ............................................................................................................................................................................. 7 DEFINITIONS ........................................................................................................................................................................ 7 ADOM/CDOM .......................................................................................................................................................................... 7 AUTHORIZED USER ....................................................................................................................................................................... 8 BUSINESS DAY ............................................................................................................................................................................. 8 CENTRAL TEXAS MLS SYSTEM ........................................................................................................................................................ 8 CENTRAL TEXAS MLS PRIMARY SERVICE AREA ................................................................................................................................... 8 CLOSED (SOLD) ............................................................................................................................................................................ 8 CONTRACT (PURCHASE AGREEMENT) ............................................................................................................................................... 8 EXCLUSIVE AGENCY LISTING AGREEMENT .......................................................................................................................................... 8 EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT ................................................................................................................................. 9 EXEMPTED LISTINGS ...................................................................................................................................................................... 9 INTERNET DATA EXCHANGE (IDX) ................................................................................................................................................... 9 INTERNET DATA EXCHANGE DATABASE (IDX DATABASE) ..................................................................................................................... 9 INTERNET DATA EXCHANGE PARTICIPANT (IDX PARTICIPANT) ............................................................................................................... 9 INTERNET DATA EXCHANGE SUBSCRIBER (IDX SUBSCRIBER) ............................................................................................................... 10 LISTINGS ................................................................................................................................................................................... 10 MLS PARTICIPANT DATABASE ....................................................................................................................................................... 10 NET LISTING CONTRACT ............................................................................................................................................................... 10 OPEN LISTING CONTRACT ............................................................................................................................................................ 10 PARTICIPANT ............................................................................................................................................................................. 10 PARTICIPATION DEFINED .............................................................................................................................................................. 11 PROPERTY LISTING CONTENT ........................................................................................................................................................ 12 PURCHASE/LEASE ....................................................................................................................................................................... 12 SHORT SALE .............................................................................................................................................................................. 12 SUBSCRIBER TYPES & DEFINITIONS ................................................................................................................................................ 12 Broker of Record ................................................................................................................................................................ 12 Licensees ........................................................................................................................................................................... 12 Broker ................................................................................................................................................................................ 12 Non-licensed Personnel ..................................................................................................................................................... 12 Appraiser ........................................................................................................................................................................... 12 Vendor ............................................................................................................................................................................... 12 STATUS DEFINITIONS ......................................................................................................................................................... 13 ACTIVE ..................................................................................................................................................................................... 13 ACTIVE UNDER CONTRACT ........................................................................................................................................................... 13 CLOSED .................................................................................................................................................................................... 13 1 Approved by Board of Governors 4/20/2020 EXPIRED ................................................................................................................................................................................... 13 TEMPORARILY OFF MARKET ......................................................................................................................................................... 13 PENDING .................................................................................................................................................................................. 14 WITHDRAWN ............................................................................................................................................................................ 14 PROPERTY TYPES ............................................................................................................................................................... 14 BUSINESS OPPORTUNITY .............................................................................................................................................................. 14 COMMERCIAL LEASE ................................................................................................................................................................... 14 COMMERCIAL SALE ..................................................................................................................................................................... 14 FARM ....................................................................................................................................................................................... 14 LAND ....................................................................................................................................................................................... 14 MULTIFAMILY ............................................................................................................................................................................ 14 RESIDENTIAL .............................................................................................................................................................................. 15 RESIDENTIAL LEASE/RENTAL ......................................................................................................................................................... 15 LISTING PROCEDURES ........................................................................................................................................................ 15 SECTION 1. LISTING PROCEDURES ............................................................................................................................................... 15 SECTION