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.
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 firstname.lastname@example.org or give me a call at 775.823.8838.