Completing RLA [Residential Listing Agreement]

Completing the RLA [Residential Listing Agreement]

  • Paragraph 1
    1. Always use the correct Listing Agreement: The correct RLA has “Exclusive Right to Sell.”
    2. The “Begin” Date is the date the Agreement is signed – not when you plan to put Property on the Market [use SELM for that].
    3. The “End” Date is the date the Agreement terminates.
    4. Check box in paragraph 1 if Manufactured or Mobile Home or for Probate, Conservatorship or Guardianship.
  • Paragraph 2 – If Property is a Trust, write in paragraph 2.B “Listing Terms”: “Seller is a Trust.” Listing Terms can also spell out what terms such as ALL Cash, Conventional, FHA, VA, Seller Carrybacks might be acceptable to Seller.
  • Paragraph 3
    1. In paragraph 3.A, COMPENSATION TO BROKER put the Total commission Seller is to pay [Usually between 5-6%].
    2. In paragraph 3.A(2) put “If within 60 calendar days . . . ” – Always write in 60 or more days to cover any potential Buyers that showed interest in the Property prior to the end of the Listing Agreement.
    3. Listing Agent must provide a written list of potential Buyer names to the Seller prior to the end of the Listing Period.
    4. In paragraph 3.D(1) put the cooperating Broker commission [i.e 2.5%, 3%, etc.]
  • Paragraph 4
    1. In paragraph 4.B check for Leased or Not Owned Items [Solar System, Alarm System, Propane Tank, Water Softener, etc.]
    2. In paragraph 4.B check for Liened Items [Solar System, Windows, Doors, HVAC, etc.]
    3. Seller to provide to Buyer as part of the sales agreement, copies of leases or other documents obligating Seller to pay for such leased or liened items.
  • Paragraph 5
    1. In paragraph 5.C specify which MLS(s) will be used.
    2. Check the box if property is out the area of the MLS you inputting to.
  • Paragraph 6 “Box” – BENEFITS OF MLS – Both Seller and Agent to initial.
  • Paragraph 7 – PUBLIC MARKETING OF PROPERTY
    1. Paragraph 7.A NAR Clear Cooperation Policy – Check applicable box.
    2. Paragraph 7.B – Explanation of Public Marketing with Clear Cooperation.
    3. Paragraph 7.C – Coming Soon – Check box if Seller does not want “Coming Soon” status used.
    4. Paragraph 7.D – (1) Seller instructs Broker when to start marketing Property or (2) may check box to NOT market the Property to the public. SELM is required if not on MLS within 1 business day.
      1. Note MLS rules require submission to MLS within 1 business day unless using SELM.
      2. SELM must be signed by Seller & Team Leader and uploaded to Command.
      3. Listing Agent to send email to the Board of Realtors with SELM as a PDF attachment.
      4. Copy of confirmation back from Board of Realtors is also to be uploaded to Command.
  • Paragraph 8 – If chosen use form SELI to filter what goes out from MLS to third party website [electing not to show property address, ability to write comments/reviews on those sights, or automatic estimates of value].
  • Paragraph 10.C (2) B – Do NOT have Seller check preference regarding Buyer Letters. If they wish to consult Contract Manager.
  • Paragraph 10.E – Check appropriate boxes if Seller chooses to have inspections completed prior to marketing the Property.
    • Paragraph 15-Check if the Seller does not wish to have a lockbox.
    • Paragraph 16-Check if Seller does not want sign.
  • Other Important Terms
    • Paragraph 12-Agency-Spend adequate time to point out dual agency in-house off market sales.
    • Paragraph 20 – Management Approval – allows for Broker or Manager right to cancel the Agreement within 5 Days. Make sure you submit to compliance within 1 business day so we can make sure that a mistake or term can be corrected.
    • Paragraph 22.A & B. DISPUTE RESOLUTION – Now only includes MEDIATION.
    • Paragraph 22.C. ARBITRATION ADVISORY – If Seller and Broker desire to include an ARBITRATION provision, need CAR form ARB [Arbitration Agreement].
    • Paragraph 24 – If Seller is signing in a representative capacity – RCSD-S is required.

Seller and Listing Agent to sign and date Listing Agreement.

Revised 04/09/22

in Listings