NNRMLS Waiver of Benefits

At the end of last year NNRMLS released a new “Seller’s Waiver of MLS Benefits” form due to the sharp increase in the number of sellers waiving their MLS benefits. This form seeks to protect our Members in what is a growing practice likely to expose them to liability. Please remember that you must submit a Waiver to the NNRMLS office if you are not listing the property in the MLS.There are two forms and brokers have the option to choose which form will best meet the needs of their firm. Of course, we feel a brokerage unused to the practice of offering service outside MLS input should employ the form Option A with sellers initials on points A – D in order to mitigate potential liability should a seller come back and claim they did not understand what they waived. NNRMLS requires the Broker signature on all Waiver forms.

Click below to open a PDF version of the forms:
Sellers Waiver of MLS Benefits Option A
Sellers Waiver of MLS Benefits Option B

Key Details of the Form:

• The form requires the Broker’s Signature as well as those of the Seller(s) and Listing Agent(s)
• Forms received by NNRMLS will be marked “Received” and emailed back to the Broker with carbon copy (cc:) to the Agent as proof of receipt.
• The Citation for not submitting a Waiver within the allowed 48 hours is $1,000.
• Both forms (Option A and Option B) are available in ZipForms and MLS Docs in Paragon.

We take the liability of our Members very seriously and hope you will agree that either version of the new form explains in clear detail the benefits of the MLS and helps release our Member from liability if the seller refuses to allow the listing to be disseminated to the NNRMLS. If you have any concerns, questions, or comments please feel free to contact me directly at shelley@nnrmls.com or give me a call at 775.823.8838.

 

Did you like this? Share it:
This entry was posted in Kitchen Sink, News You Can Use, Rule Book and tagged , , , , , , , by Shelley Specchio. Bookmark the permalink.

About Shelley Specchio

Shelley Specchio, CEO of the Northern Nevada Regional MLS, was hired in December 2008 into her current position. Previously Shelley held the position of Vice President of Sales and Marketing, a position she accepted upon the forming of the Regional MLS in 2003. Shelley began her career within the REALTOR® family in 1994, producing a popular bi-weekly real estate publication as a Member service of the Reno/Sparks Association of REALTORS®. She proudly sits on the Council of Multiple Listing Services (CMLS) Board of Directors, holds a position on NARs MLS Issues and Policies Committee, and serves on the Board of Directors of HomeFree Nevada, the non-profit sponsor of Home Performance with ENERGY STAR™ for the State of Nevada.

Leave a Reply