Section 2.3 Submission of written and counter-offers The broker submits to the seller all written offers until closing, unless this is excluded by law, by state provisions, by regulations or by other written agreements between the seller and the stockbroker. To the extent that the subsequent offer does not depend on the termination of an existing contract, the broker advises the seller to get advice from a lawyer before accepting the subsequent offer. The service may, through its lawyer: (1), reserve the right to refuse to accept a list form that does not adequately protect the interests of the public and participants; (b) the cooperating broker cannot contact the stockbroker or his representative after a reasonable charge. However, the stockbroker may, once chosen, exclude such direct negotiations by cooperating brokers. Section 1 Listing Procedures Listings of one (1) to four (4) family properties registered under a real estate agent`s license and located in the territorial jurisdiction of the Multiple Listing Service, introduced into the computer system by participants on an exclusive license to the sale or exclusive basis of an agency, after collecting all the necessary signatures, and within twenty-four hours of the date of listing. The listing agreement must include the owner`s right to send to the service. The Multiple Listing Service reserves the right to request a copy of the participant`s list agreement. If NJMLS requests the filing of a list contract, it must be submitted to NJMLS within 24 hours, otherwise a fine of USD 150 will be imposed. (c) Unless contrary to the VOW Directive or these rules, a participant is not required to obtain separate authorization from other MLS participants whose offers are displayed on the participant`s VOW.
The Board Multiple Listing Service must not have a rule requiring the broker to disclose the total amount of the commission negotiated in its list contract, and the Board Multiple Listing Service cannot publish the entire commission negotiated on a quote presented to the service by a participant. The Multiple Listing Service Board cannot disclose the overall commission negotiated between the seller and the Broker. Section 5 Information showing the compensation of each list submitted with the service by depositing a property to the service, the participant submits a flat-rate unilateral compensation offer to the other MLS participants and therefore sets out, on each list submitted to the service, the compensation that the listing broker offers to other MLS participants. This is necessary because the cooperating participant has the right to know what compensation must be before they go on sale. An exclusive list of agencies must be identified by selecting the exclusive agency in the Type of Agreement field from the list. b. provides an automated estimate of the market value of the list (or hyperlinks to such an estimate) in direct connection with the list; (d) Subject to subsection b), a participant`s VOW may authorize third parties (i) to write comments or evaluations on specific offers or to post a hyperlink to such comments or evaluations directly related to certain offers, or (ii) an automated estimate of the market value of the list (or hyperlink to such an estimate) in connection with the list. Net listings allow a real estate agent to maintain the difference between what the homeowner wants to sell the home for and the actual sale price. Boards of Directors and Multiple Listing Services may refuse to sell or lease key boxes, terminate existing key leases and refuse to activate or reactivate a key held by a person convicted of a felony or misdemeanor when the offence relates to real estate activity in determining the board of directors or MLS or endangers clients , clients or other real estate professionals.