Martin & Tope Real Estate Broker's Corner
This article ran in the Wet Mountain Tribune on October 21, 2021.
When you list your property for sale with Martin & Tope Real Estate Company, you may choose to have the following provision in your listing agreement. I recommend that you have this provision in your listing agreement. Please read the provision, which is self-explanatory.
– Gary D. Martin, Managing Broker
Clause Title: Additional Provisions Para. 28- Entering property into MLS.
Clause Text: In reference to Paragraphs 9.1.1 above, Seller and Broker agree that Broker will submit the Subject Property into any Multiple Listing Services (MLS`s) that Broker is a member of. Broker shall determine the timing that is most advantageous for submitting the Subject Property, taking into consideration Seller`s best interest and a reasonable time frame needed for Broker to produce and design a good quality and accurate marketing presentation that in Broker`s opinion reasonably attempts to target and stimulate the right market sector of potential buyers to respond to the MLS`s advertisement. Seller and Broker agree that Broker will not submit the Subject Property into the MLS`s until Broker has attained the necessary level of marketing quality, based on Broker`s opinion. The reason for this Additional Provision is this: Some MLS`s require Brokers to submit data into the MLS within a short period of time or be fined. To prevent being fined, but more importantly, to produce the best marketing presentation for the Seller, an agreement such as this is needed. After all, who does the Broker work for? The Seller? Or for the organizations providing the MLS`s? Who is better equipped to determine the best quality data submission for the MLS`s? The Broker or the MLS? That submission quickly goes to internet real estate web sites such as Realtor.Com, Zillow, Lands Of America and many others. A qualified local Broker is in tune with local market conditions and in tune with what buyer`s are interested in buying. MLS`s interests are not focused in the same way. If they were, these organizations would not demand data submission deadlines. The best way for a Broker to do the best work for the Seller is to agree with the Seller on a data submission policy in the Listing Agreement. That overrides the demands of the MLS`s and affords the Broker the opportunity to create a marketing approach that stimulates thought and produces sales.
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