Disclaimers & Disclosures
ULISTR®
PROCESSES & Disclaimer Please read, sign & return with your other documents
Processes
With this MLS Listing service, you list your property with ULISTR who provides you with MLS entry-only services. All other “traditional Brokerage” services are excluded. You are still the seller of your house , Exclusive Agency, and you retain all the rights to sell it as For Sale By Owner, EXCEPT you may call yourself a For Sale By Owner “FSBO” because you’re technically a Broker/agent-assisted sale when you are listed on the MLS. MLS listing services have been around for awhile, ULISTR offers the seller true autonomy in selecting the amount of commission offered out to the Buyer Broker without coaching ,suggesting , recommending, encouraging, promoting the amount of the Buyer Broker commission thats “customarily”.
You will be required to sign disclosures and agreements necessary listing to comply with the State/MLS requirements . ULISTR will enter the information you provided into the MLS and they will be shown as the listing agent/Broker with Showing Instructions that reflect “ Owner To Show/Showingtime appointments required”. Showingtime is the free service provided to make appointments according to your schedule, that you control, using the free 888#. It is also a method of registering interested parties and distinguishing them from Buyer Broker Agents interested in showing your home to their customers. The MLS documents are very important for the MLS for sale by owner listing so be sure all information provided correct reflective of your deed and tax records.
Once you have filled out the required MLS documents and disclosures, ULISTR will confirm the information provided by you with a copy of the listing description sheet to be displayed on the MLS. Once you have reviewed, initialed, dated (where indicated) and returned ACCEPTED, your listing will be live within 24 hours after completing and submitting all the information. ULISTR will notify you as soon as it is. Note, it may take 48 hours for your listing to land on the many free landing sites like Zillow. Reviewing your listing as soon as it goes live is suggested to avoid any errors or delays with MLS information provided and inconvenience in the future.
Once your property is listed on the MLS, you will manage the marketing, staging and showing of the property to those who request showing through Showingtime ( unrepresented interested parties and/or Buyer Agent represented parties). Before you receive an offer, it is a good idea to reach out to a Real Estate attorney as they will be instrumental in your process once you have received an offer and negotiations have begun. Any changes to the listing after it goes live, must be coordinated with ULISTR.
When you find a qualified buyer and accept an offer, NOTIFY ULISTR within 24 hours so we can mark the listing * in Attorney Review/Under Contract. At this point you will begin going through various processes towards closing your property at this point its very important to contact your Real Estate Attorney or Title/Escrow Company if you are in a “non Attorney” region where Title/Escrow Company's, sending them all the required documents necessary to perform closing processes. They will prepare the HUD with financials with Seller/ Buyer credit and debits including Attorneys fees ,closing fee, ULISTR 199$ Closing Success fee and any Buyer Agent commission on fee if the Buyer Agent/Broker procured the Buyer for your home. It important to alert ULISTR and submit the closing information to the MLS listing service with in 24 hours of your completed closing.
One important note to re-state......Per MLS rules, sellers must notify brokers within 24 hours/1 business day after closing their sale and provide a fully executed contract to ULISTR. As a very important procedure of the listing process, brokers are required to immediately update the listing on the MLS within 1 business day of home closing. Brokers can be fined for not updating your listing and they will be required to pass that fine onto you.
DISCLAIMERS
Listing Broker is relieved of any and all responsibility or liability as to accuracy of information provided to Listing Company, by the Seller/Owner in the MLS description/details and/or to make any additional repairs, maintenance or improvements of any kind after the sale of above identified property. Listing Broker has made no warranty representation or guarantee regarding the property, Property condition, including the accuracy, adequacy or quality of any repairs or improvements made. Seller/Owner understands and agrees to give up, waive and relinquish all rights to assert any claim, demand, proceeding or lawsuit of any kind against Listing Broker , Employees or its Agent(s) involved with respect to the condition of the property, improvements and any personal property, except for claims which are based upon Seller's and/or Listing Broker’s or Agent's concealment of material facts and defects, which those parties are required to disclose by law. Furthermore, both Buyer and Seller/Owner & Co Broker & its Agent(s) hereby release and agree to hold harmless, indemnify Listing Broker ULISTR, Brokers, Employees, and its Agent(s) from any and all costs, damages, liabilities, losses, expenses, claims, charges, or action of any kind associated with this Real Estate transaction. Seller acknowledges ULISTR, LLC is solely acting as a platform to list property on MLS and service does not constitute a “Fiduciary” relationship in any matter , shape or form. The Corporation asserts, represents any/all relationships dealing with customers and the MLS listing service is strictly acting as, considered to be from the actions and intention, Non Fiduciary as the Corporations business is to only act as conduit to a platform for the customer to attain access on the MLS (s) in an attempt to broaden the exposure of the sale of their residence. As such, all information provided to the Corporation from the Seller/Owner is without prejudice, interference, consulting, persuasion, and or the recommendation from the Corporation , BOR, and or associates now or in the future is/has been will be provided soley by the customer, Seller, Owner, Sellers representative. Seller/Owner acknowledges the MLS NO CONTROL OF COMMISSION RATES OR FEES clause where by The Service shall not fix, control, recommend, suggest, or maintain commission rates or fees for services.to be rendered by Participants. Further, the Service shall not fix, control, recommend, suggest, or maintain the division of commissions or fees between cooperating Participants or between Participants and nonparticipant. Relationship in any capacity. As such , Seller/Owner acknowledges that the determination of Co-Broke Compensation/ Commission % has been solely derived by the seller without interference.
Commission Splits offered out on the MLS to Buyer Broker/Agents-General information. LISTING BROKERS USUALLY COOPERATE WITH OTHER BROKERAGE FIRMS BY SHARING INFORMATION ABOUT THEIR LISTINGS AND OFFERING TO PAY PART OF THEIR COMMISSION TO THE FIRM THAT PRODUCES A QUALIFIED BUYER. THIS IS GENERALLY REFERRED TO AS THE"COMMISSION SPLIT". SOME LISTING BROKERS OFFER TO PAY COMMISSION SPLITS OF A PORTION OF THE GROSS COMMISSION, USUALLY EXPRESSED AS A PERCENTAGE OF THE SELLING PRICE, LESS A SIGNIFICANT DOLLAR AMOUNT. OTHER LISTING BROKERS OFFER A PORTION OF THE GROSS COMMISSION LESS ONLY A MINI MAL LISTING FEE OR LESS ZERO. THE AMOUNT OF COMMISSION SPLIT YOU/Owner/Seller OFFER OUT UNFORTUNATELY , albeit can be considered Steering, an illegal practice, MAY AFFECT THE EXTENT TO WHICH YOUR PROPERTY IS EXPOSED TO PROSPECTIVE BUYERS WORKING WITH LICENSEES FROM OTHER BROKERAGE FIRMS. ON THIS LISTING, THE BROKER/LISTING COMPANY IS OFFERING OUT A COMMISSION SPLIT THAT IS DIRECTED BY THE SELLER/OWNER MINUS A MINIMAL LISTING FEE TO POTENTIAL COOPERATING BROKERS IF THE PROCURE A QUALIFIED BUYER READY/WILLING AND ABLE TO PURCHASE YOUR HOME AT YOUR PRICE AND TERMS. BY SIGNING THE MLS LISTING SERIVICES AGREEMENT, YOU, THE SELLER/OWNER(S) ACKNOWLEDGE HAVING READ THIS STATEMENT ON COMMISSION SPLITS, PAYMENT OF THE COMMISSION FOR EXCLUSIVE AGENCY ARRANGEMENTS.
COMMISSION OR FEE DISCLOSURE. "AS SELLER/Owner YOU HAVE THE RIGHT TO INDIVIDUALLY REACH AN AGREEMENT ON ANY FEE, COMMISSION, OR OTHER VALUABLE CONSIDERATION WITH ANY BROKER. NO FEE, COMMISSION OR OTHER CONSIDERATION HAS BEEN FIXED BY ANY GOVERNMENTAL AUTHORITY OR BY ANY TRADE ASSOCIATION OR MULTIPLE LISTING SERVICE.
" Nothing herein is intended to prohibit an individual Broker from independently establishing a policy regarding the amount of fee, commission or other valuable consideration to be charged in transactions by the Broker.
GRANT OF EXCLUSIVE AGENCY, LEASE, EXCHANGE OR OTHERWISE TRANSFER AND TO MULTIPLE LIST PROPERTY. In consideration of the Listing Service Broker listing and endeavoring to list e MLS the Property at the Listing Price, Seller/OWNER ( or their legally authorized representative) grants the Listing Service Broker the exclusive Agency, exchange or otherwise transfer the Property, at the Listing Price and on the terms as stated in this Agreement, or upon such other price and/or terms as may be acceptable to the Seller. The Listing Service Broker is directed by the Seller/ Owner to list the Property with the Listing Service and to distribute this listing to Service participants.
LISTING SERVICE BROKER PROTECTION
Seller/Owner agrees to pay the BUYER Broker the Commission as they had indicated on the Sellers Agreement and MLS listing, IF BUYER BROKER procures a qualified Buyer, Paying Sellers price & terms. If the Seller, acting on the own behalf, within 60 days after the Expiration Date conveys or agrees to convey the Property to any Buyer shown the Property by the Buyer Broker or any person during the term of this Listing Agreement. This clause shall not apply if the property has been listed by the Seller with another broker by written agreement.
SELLER/OWNER(S) LIABILITY. The OWNER(S) hold harmless and indemnify the Listing Service Broker and Cooperating Buyer Brokers against loss or damage resulting directly from any condition of the Property not disclosed to the Listing Broker or from the Seller/Owner's use of/or acts in the showing and inspection of the Property.
The Seller/Owner(s) represent that they are the sole owner(s) of the Property, the Seller/Owner(s) have the legal right to sell the Property, and that to the best of their knowledge they have Marketable Title to the Property. The Seller/Owner(s) further represent that after a sale at the Listing Price there will be sufficient proceeds to discharge all liens and encumbrances and to pay the Buyer Broker Commission stated in this Agreement.
NO ENVIRONMENTAL HAZARDS. The Seller/Owner(s) are not aware of any environmental hazards relating to the Property, or proceedings regarding such hazards which are now pending or threatened with regard to the Property.
SIGN AUTHORIZATION. Seller/Owner agrees to procure/ utilize their own “For Sale” sign, “ House For Sale” sign. If Owner decides to utilize Sign Companies referred by Listing Service Broker ULISTR, the Owner agrees to effect Signage agreement directly with Sign Companies, holding harmless and indemnifying ULISTR from costs related to ordering, installation, and removal of "For Sale " , “ House For Sale” sign on the Property during the term of this Agreement.
If/When the Seller/ Owner transitions into a FULL SERVICE “Traditional” Brokerage representation, The Owner may every effort to refer to the Listing Broker every prospective Buyer/Tenant who contacts the Seller/Owner during the term of the FULL SERVICE Traditional listing agreement. The Seller/Owner directs that all negotiations for the purchase or lease of the Property shall be conducted through the Listing Broker that it has decided to effectuate a Traditional/Full Service Model. The Owner represents that the Property is not currently listed with any other Broker. The information contained in this Agreement and on the attached Listing Input Sheets has been furnished solely by the Seller/Owner who states it is correct to the best of Seller/Owner's knowledge and belief, and the compilation by the Broker for the Service is not to be deemed a representation as to the accuracy of the information provided. The Seller/Owner acknowledges that this Agreement has been read by the Seller/Owner and that Seller/Owner understands its contents. Seller/Owner has received a copy of this Agreement and the Listing Input Sheets, which are incorporated herein and made part of this Agreement.
Seller/Owner acknowledges having read and approved the Listing Input Sheet(s) and represents that they are accurate.
ACKNOWLEDGEMENT OF RECEIPT OF THE CONSUMER INFORMATION STATEMENT ON NEW JERSEY REAL ESTATE RELATIONSHIPS. Seller/Owner acknowledges receipt of a copy of the Consumer Information Statement on New Jersey Real Estate Relationships and acknowledges receipt of the New Jersey Attorney General's Summary of the New Jersey Law Against Discrimination, and further acknowledges that Seller/Owner has reviewed this Summary and agrees to abide by the terms and conditions of the Law Against Discrimination
The Seller/Owner agrees to pay the Buyer Broker/Agency the Commission, directed by the Seller/Owner on the onset of the agreement if the Property if sold, exchanged or otherwise transferred by/through, during the MLS Listing Service Agreement or through any other source before the Expiration Date, when the Buyer Broker/Agent has procured the Buyer.
The Buyer Broker Commission shall be earned when a ready, willing and able qualified Buyer is produced and shall be paid at the time of the transfer of the Property or signing of the lease. By signing this Agreement the Seller/Owner instructs the title agent/attorney to pay the Commission, if due, at such time.
In the event the Property is sold to the Tenant during the term of its Tenancy, No Sale Commission shall be paid by the Seller/Owner to the Listing or Buyer Broker.
The Listing Broker agrees that the Commission may be shared with any Buyer Broker who assists in causing a sale, exchange or transfer of the Property as indicated in the offer of Cooperation/Compensation Box that has been directed by the Seller/Owner.
In the event the Commission due the Buyer Broker from the Seller/Owner is not paid per the terms of this Agreement, the Seller/Owner agrees to arbitrate with Buyer Broker Company solely come to a reasonable agreement paying expenses, including reasonable attorney's fees incurred by the Buyer Broker, relating to the collection of the Commission, holding harmless and indemnifying Listing Service Broker ULISTR.