Multiple Listing Service Rules and Regulations Space Coast Association of REALTORS®, Inc. Page 0 of 44 2021 MLS Rules Space Coast Association of REALTORS®, Inc. Certified by NAR February 24th, 2021 – Amended February 17th, 2021 Table of Contents INTRODUCTION AND DEFINITIONS ................................................................................................................................ 11 Article 1: Name ................................................................................................................................................................... 11 Article 2: Purpose ............................................................................................................................................................... 11 Article 3: Jurisdiction ........................................................................................................................................................... 11 Article 4: Participation ......................................................................................................................................................... 11 Article 5: Service Charges .................................................................................................................................................. 12 LISTING PROCEDURES (Section 1) ................................................................................................................................. 12 Section 1 - Listing Procedures: ........................................................................................................................................... 12 Section 1.0.1 - Clear Cooperation: ..................................................................................................................................... 14 Section 1.1 - Types of Properties: ...................................................................................................................................... 14 Section 1.1.1 - Listing Subject to Rules and Regulations of the Service: .......................................................................... 14 Section 1.1.2 – Equitable Interest: ...................................................................................................................................... 14 Section 1.2.0 – Accuracy of Listing Data ............................................................................................................................ 14 Section 1.2.1 - Limited Service Listings:............................................................................................................................. 15 Section 1.2.2 - MLS Entry-only Listings:............................................................................................................................. 15 Section 1.2.3 - Coming Soon Status: ................................................................................................................................. 15 Section 1.3 - Exempt Listings: ............................................................................................................................................ 16 Section 1.4 - Change of Status of Listing: .......................................................................................................................... 17 Section 1.4.1 – Listing Status Types: ................................................................................................................................. 17 Section 1.5 - Withdrawal of Listing Prior to Expiration: ...................................................................................................... 17 Section 1.5.1 - Listing Manipulation: ................................................................................................................................... 18 Section 1.6 - Contingent or Pending Status Change to Applicable Listings:...................................................................... 18 Section 1.7 - Listing Price Specified: .................................................................................................................................. 18 Section 1.8 - Listing Multiple Unit Properties: ..................................................................................................................... 18 Page 1 of 44 2021 MLS Rules Space Coast Association of REALTORS®, Inc. Certified by NAR February 24th, 2021 – Amended February 17th, 2021 Section 1.9 - No Control of Commission Rates or Fees Charged by Participants: ............................................................ 18 Section 1.10 - Expiration of Listings: .................................................................................................................................. 18 Section 1.11 - Termination Date on Listings: ..................................................................................................................... 18 Section 1.12 - Service Area: ............................................................................................................................................... 18 Section 1.13 - Listing of Suspended Participants: .............................................................................................................. 18 Section 1.14 - Listing of Expelled Participants: .................................................................................................................. 19 Section 1.15 - Listings of Resigned Participants: ............................................................................................................... 19 Section 1.16 - Auction Properties: ...................................................................................................................................... 19 Section 1.17 - Short Sale Properties: ................................................................................................................................. 19 Section 1.18 - Exclusions: .................................................................................................................................................. 19 Section 1.19 - Contact Information on Listings: .................................................................................................................. 19 Section 1.20 - Virtual Tours: ............................................................................................................................................... 19 Section 1.21 - Photos in MLS: ............................................................................................................................................ 19 Section 1.21b - Waterfront: ................................................................................................................................................. 20 Section 1.21c - Water view Property: ................................................................................................................................. 20 Section 1.22 - Listing Content: ........................................................................................................................................... 20 Section 1.23 - Directions .................................................................................................................................................... 20 Section 1.24 - ...................................................................................................................................................................... 20 Section 1.25 - ...................................................................................................................................................................... 20 Section 1.26 - Combination Lockbox Codes and Gate Codes: .......................................................................................... 20 Section 1.27 - Special Requirements in Listings Disclosed: .............................................................................................. 20 Section 1.28 - Participant as Principal: ............................................................................................................................... 20 Section 1.29 - Participant as Purchaser: ............................................................................................................................ 21 SELLING PROCEDURES (Section 2) ................................................................................................................................ 21 Section 2 - Showings and Negotiations: ............................................................................................................................. 21 Page 2 of 44 2021 MLS Rules Space Coast Association of REALTORS®, Inc. Certified by NAR February 24th, 2021 – Amended February 17th, 2021 Section 2.1 - Presentation of Offers: ................................................................................................................................... 21 Section 2.2 - Submission of Written Offers and Counter-offers: ......................................................................................... 21 Section 2.3 - Right of Cooperating Broker in Presentation of Offer: .................................................................................. 21 Section 2.4 - Right of Listing Broker in Presentation of Counter-Offer: .............................................................................. 21 Section 2.5 - Reporting Sales to the Service: ....................................................................................................................