BIC TIP #1304: Office Exclusive Listings and Your MLS

It sounds counterintuitive: an MLS form for a listing that is not going into MLS. But Stephen Long, your Notorious BIC, explains that an office exclusive listing still has to play nicely with your MLS. You need seller consent in the listing agreement, the office exclusive addendum, and in many cases a copy filed with your local association.

When the Seller Says No to MLS

Sometimes a seller does not want their property in MLS. Maybe they want privacy, maybe it is a sensitive situation, maybe they just want a quieter sale. In that case, an office exclusive listing may be the right fit.

The listing agreement dictates whether the seller does or does not want MLS exposure and whether they would like an office exclusive. If they do, choose that option on the listing agreement. That is the seller’s informed decision, in writing.

The Addendum Talks to Your Association

Most MLSs also have an office exclusive addendum. Part of its job is to alert the local association that you are taking a listing that is not going into MLS.

Stephen urges brokers to actually read those forms. Many of them indicate that you should submit the addendum to your local association in addition to keeping it in your brokerage file. Skipping that step could leave you out of compliance with your MLS even if everything else is buttoned up.

Two Sets of Rules to Satisfy

From a Real Estate Commission standpoint, as long as you have the proper disclosures and the seller’s consent, you are generally on solid ground. But the Commission is not the only rulebook. Your MLS has its own rules, and violating them can carry consequences of their own.

So think of it as two checkboxes: Commission compliance through disclosure and consent, and MLS compliance through the addendum and any required submission.

The Practical Takeaway

For every office exclusive, check the right box on the listing agreement, complete your MLS office exclusive addendum, read the form’s instructions, and submit it to your local association if required. Keep copies in your file. If you have questions about your MLS’s specific requirements, ask your broker-in-charge.