Section 1: Submission of Listings Should any public marketing of a listing occur during the allowed five‐day submission period, the following requirement will adjust the mandatory entry period; A. Mandatory Listing Types B. Optional Listing Types The following classifications of property may be placed with Stellar MLS at the option of the Participant, however listing, if entered, must be in compliance with the Rules and Regulations: All new listings will be automatically placed in “Incomplete” status and will not show as active until one front exterior photo or rendering, aerial photo or water view from property (unit) is added in the 1st slot of the MLS system. Once a photo is present the listing may then be moved into “Active” status. Listings in an “Incomplete” status will be purged out after 30 days from the entry date. (Updated 6/2016) C. Short Sale Listings. In instances where the listing broker becomes aware that the sale price may be insufficient to pay the total of all liens and costs of sale and the owner(s) of record may not be able to bring sufficient liquid assets to the closing to cure all deficiencies (the Potential Short Sale Circumstance), the listing broker shall : If after the initiation of negotiations the listing broker receives knowledge of the existence of a potential short sale circumstance, or that the sale of the listed property may be conditioned upon the approval of a court, a lender, or other third party, then such disclosures must be made in writing in the Public Remarks” Sections of the MLS listing. All confidential information related to short sales must be communicated through required dedicated field and Realtor Only Remarks, available only to Participants and subscribers. In making the permitted disclosures, ONE of the following provisions must be used: (Updated 9/2010) Approval of the owner(s) of record lenders(s) may be conditioned upon the gross commission being reduced, any reduction of the gross compensation will be apportioned (insert apportionment or split) between listing and cooperating brokers. Disclosure in Special Sale Provision Field is required and you must select “Short Sale” in the designated field. D. Commission Apportionment Disclosure. If the listing broker elects not to disclose to a cooperating broker how any reduction in the gross commission will be apportioned between the brokers, then the listing broker will be obligated to pay the cooperating broker the compensation stated in the listing. Timely disclosure of the manner of apportionment of any commission reduction must be made by either placing the disclosure in the listing or providing the disclosure to the cooperating broker prior to the cooperating broker submitting an offer of purchase. (Updated 6/2011) E. Where participants communicate to other participants how any reduction in the gross commission established in the listing contract required by the lender as a condition of approving the sale will be apportioned between the listing and cooperating participants, listing participants shall disclose to cooperating participants in writing the total reduction in the gross commission and the amount by which the compensation payable to the cooperating broker will be reduced within 24 hours of notification from the lender. (NAR 5/2010)
Participant’s listings of real property of the types shown below which are located in the counties of Stellar ’s service area shall be submitted to the Stellar MLS within five business days excluding weekends and federally recognized holidays, upon the latter of a) the dated signatures of the owner(s) of record or b) the beginning date on the Listing Agreement or within one business day of public marketing, whichever is sooner.
Within one business day of marketing a property to the public the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, all social media platforms public or private, brokerage website displays (including IDX and VOW), digital communications marketing (email or text blasts, or automated voice calls/messaging), multi‐brokerage listing sharing networks, and applications available to the general public. (Amended 3/2020)