When To Use the NNRMLS Waiver of Benefits and Why

As you know, 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. While the Rules surrounding Listing Input and the use of the Waiver of Benefits have not altered in over 5 years, the 2012 form seeks to protect our Members in what is a growing practice likely to expose them to liability if the seller does not fully understand the benefits they may be waiving by withholding the listing from dissemination via the MLS.

So while we hope to protect our members from liability, we also hope to help you fully understand our Rules regarding listing properties into the MLS or withholding them using the Waiver of Benefits form to avoid citations.

The Rules:

1. All Residential (up to 4-family residential buildings) and Vacant Land listings offered for sale or exchange MUST be entered into the MLS System with 2 business days of sellers’ signatures executing the Listing Contract.

2. If your Seller refuses to allow you to list his property in the MLS you must submit the signed Seller’s Waiver of MLS Benefits form to the MLS within 2 business days of sellers’ signatures executing the Listing Contract.

Stay out of Trouble:

If your seller is withholding the listing from MLS while they have the carpets cleaned…send in a Waiver!

• If your seller is withholding the listing from MLS entirely…send in a Waiver!

• If your seller is withholding the listing from MLS while you get exceptionally good pictures…send in a Waiver!

• If your seller wants you to give Craig’s List a try before the MLS…send in a Waiver! (and watch out for scammers)

If for any reason you are not inputting a residential or land listing within 2 business days, you must send in a Waiver of MLS Benefits within those same 2 business days.

The Process:

1. NNRMLS looks at every new listing every day for obvious mistakes and violations. Mistakes and most violations allow the Listing Agent 2 business days to correct, but not the late listing.

2. Every listing that is entered into the system beyond the 2 business day rule is checked against the Waiver file. If we have not received a Waiver for that property, we will contact the listing agent with an automatic Level 4 violation.

Avoid this violation:

• Enter your listing into Paragon within 2 business days of the date you have a fully executed, signed listing contract.

• If you are not going to put it in the MLS we must receive your signed Waiver within those same 2 business days.

• NNRMLS will respond with a confirmation email to the listing agent and broker for every Waiver we receive. If you do not receive confirmation, we have not received your Waiver. Resend!

In addition to taking the liability of our Members very seriously, the Leadership and Staff of NNRMLS believe that the spirit of Cooperation, that is the keystone of the Multiple Listing Service, has caused this industry to thrive for decades. The creation of a trading platform where competitors can cooperate under agreement to participate in building and disseminating reliable, accurate and timely listing information is a marvel unparalleled in almost any other industry. Let’s protect it!

If you have any questions, please feel free to contact me, shelley@nnrmls.com

Did you like this? Share it:

2 thoughts on “When To Use the NNRMLS Waiver of Benefits and Why

  1. I would like to propose that there be a time frame or expiation of any waiver of benefits that involve anything but a blanket waiver from the seller to not disseminate to MLS. There are some brokers that are using the waiver to hold the property off the market for up to three weeks with the explanation of getting better photos. One broker in particular installed a sign on the property and waited 21 days before it showed up on MLS pending short sale. Guess who had the buyer in this transaction! This was a blatant abuse of the waiver and restricted all other agents from having an opportunity to show and present offers. In addition to abusing the waiver privilege’s the broker was not looking out for the Seller best interest.

Leave a Reply