Legal Blog

 
legal blog 

Legal Blog

The Legal Blog, brought to you by NVAR's Professional Standards department, helps you stay on top of the latest rules and regulations in the industry.

Who Owns the Listing?

Aug 30, 2016

Listings

Listing agreements are contracts between the broker and the seller. The listing agent acts as a representative of the broker in the transaction.

If a subscriber transfers from one broker to another broker, the listings do not automatically go to the new office with the agent. The old listing broker and seller must agree to release each other from the listing agreement. The new broker and seller must sign a new listing agreement. MRIS will transfer a listing provided both the old and new brokers agree in writing.

To facilitate this change, the Customer Transfer Form (Document # 805) must be submitted. Listings will be transferred if both the previous and new broker/manager sign the document.
Group(s):
  • Listings