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The checklist specifies mandatory fields for MLS identification, listing dates, full property address details, and clearly defined price and financing terms. 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LISTING CONTRACT CHECKLIST. PLEASE NOTE: It will be necessary for the MLS to return the Listing Agreement to the Listing Agent if any of the following areas are incomplete, since staff is unable to make changes to the document once signed by the seller. In addition, if incomplete, it would not provide adequate protection to other MLS participants ifa dispute arises over whether compensation has been earned. Please write or print firmly and clearly on the Listing Agreement since you are making three copies. Please send or mail the Listing Agreement and Data Form, and only fax if absolutely necessary.  \n1.  MLS: The name of the MLS must be included on the contract, i.e. GRAR or Grand Rapids Association.  \n2.  Dates: Be sure to include specific start and expiration dates (month/day/year) . Listings must be filed within 5 business days of listed date.  \n3. Address: Always provide the street number or approximate street number and the complete street name, city, state, and zip code. Lot numbers may be used instead of street numbers for vacant land if desired, or can be used in conjunction with the street number to differentiate between several lots at the same location. For new, unnamed streets, please indicate the street number or approximate street number and street name that the parcel is ‘off of’.  \n4.  Price and Terms – Must be specific.  \na. Price: Please include one listed price on the contract, at which the Seller is contractually obligated. Other prices may be included on the Data Form, such as price ranges at which the  \nproperty is being marketed.  \nb. Terms: Check all financing terms being offered. Land Contract terms must include complete and specific terms, i.e. specific Down Payment, Interest Rate, Monthly Payment, and Early Payoff (if any) . Note: If the contract is to be sold by the seller to a third party company in order for the seller to be cashed-out, indicate \"SLC\" or “Sell Land Contract” in Other   on the Listing Agreement, and specify terms.  \nc. Contingency term:. Insert contingency, for example, \"This listing to be withdrawn/expired (must choose one or the other) if (other property address) sells first.”  \nd. Discount Points & Repairs: If the sellers are willing to pay discount points and/or repairs, please include the maximum percentage of discount points and the maximum dollar amount of repairs they will pay, on both the Listing Agreement and Data Form . If the seller is not willing to contribute to points or repairs, simply place “0” in these areas.  \n5.  Brokerage Fee - Be sure to fill in this area on the contract. If a Dual Commission Arrangement exists, specify in OTHER CONDITIONS (including the variable in the Brokerage Fee), as well as in the Financial Comments on the Data Form .  \n6.  Protection Period. Please be sure to complete this section.  \n7.  Participation in MLS. Splits offered to Subagent (of the Seller); Buyers Agent; Transaction Coordinator.  \n8.  Possession-Please be specific by indicating the minimum number of days or a specific date (month/day/year) . A simple statement of “negotiable”will not be considered as acceptable since it would not provide adequate protection of other MLS participants when determining whether contract terms have been met and compensation earned. To Be Determined (TBD) is not acceptable in any case.  \n9.  Reserved Prospects. Prospects may be reserved for up to five days from the contract date. Please include names of prospects in the contract portion only and the timeframe in which the prospect is reserved. Then, write \"reserved buyer for five days\" in the Agent Remarks field on the MLS. If a relocation company is a reserved prospect, the contract should state, \"No commission to be paid if sold to (relocation company) .\" This is the only exception to reserved prospects that has been authorized by the Residential MLS Committee, i.e. a relocation company may be reserved for the term of t","cbCailh2CZuKFO7m","https://ap.wps.com/l/cbCailh2CZuKFO7m","pdf",87363,"English","# Listing Contract Checklist\n## MLS identification and listing dates\n## Property address, price, and financing terms\n## Brokerage fee, protection period, and MLS participation\n## Possession, reserved prospects, and signatures","[{\"question\":\"What must be included in the listing contract for the MLS identification?\",\"answer\":\"The MLS name must be included on the contract (e.g., the appropriate MLS association name).\"},{\"question\":\"What address details are required for the property in the contract?\",\"answer\":\"Include the street number (or approximate number) and complete street name, plus city, state, and zip code. Lot numbers may be used for vacant land, and for new unnamed streets indicate the parcel’s street “off of.”\"},{\"question\":\"What signature and documentation requirements apply to ownership and authority?\",\"answer\":\"Signatures must match the required ownership type and marital status. The agreement must be signed as the listing agent, and supporting documentation is required for notarized Power of Attorney and for corporations/LLCs to show signers have authority.\"}]","Residential MLS Committee Minimum Requirements for Submitting Listings - Listing Contract Checklist | PDF",1789560797]