Suggested Guidelines and Pitfalls

LISTINGS (LOCAL MLS RULES APPLY)

TWO REQUIRED FORMS TO ACTIVATE. DATA INPUT FORM CREATED IN FLEX AND ERS CREATED IN DOCUSIGN..
TWO TYPES OF LISTINGS. ERS AND EAL. THERE IS NO SUCH THING AS A POCKET LISTING. IT IS NOT RECOGNIZED BY THE WCBR, AND YOU CANNOT ADVERTISE THAT YOU HAVE ONE OTHER THAN IN OUR OWN OFFICE. WE HAVE NO FORMAL “COMING SOON” LISTINGS ALLOWED BY OUR MLS. AN EXCLUSIVE AGENCY LISTING MAY BE USED WITH THE NORMAL EXCLUSIVE RIGHT TO SELL AGREEMENT, AND INCORPORATING THE EXEMPT LISTING FORM. THIS CAN BE DONE IF THE SELLER DOES NOT WANT THE LISTING ACTIVE ON THE MLS AND ONLY THE LISTING BROKERAGE WILL HAVE ACCESS TO SHOW UNLESS PERMISSION IS SPECIFICALLY GIVEN TO AN OUTSIDE BROKER/AGENT. NO OUTSIDE BROKER COMMISSION IS OFFERED. AS ALWAYS, COMMISSIONS ARE NEGOTIABLE BETWEEN SELLER AND BROKER. PLEASE REFER TO THE CLEAR COOPERATION POLICY.
THE DATE ON THE ERS FORM IN SECTION 1 IS THE “EXPIRING” DATE.
LISTINGS ARE SYNDICATED TO MANY WEBSITES THROUGH THE MLS EXCEPTING ZILLOW, TRULIA AND SOME OTHERS. THESE ARE AUTOMATICALLY SYNDICATED THROUGH OUR KWLS SYSTEM.

EXCLUSIVE RIGHT TO SELL AND MLS DATA INPUT FORM…REQUIRE TWO SEPARATE ENTRY AREAS AND FORMS. FLEX AND DOCUSIGN, OR WASATCH FRONT MLS AND DOCUSIGN. (Some of these only apply to the WCBR/Flex MLS)

INCLUDE ALL HOA AND EXTRA DISCLOSURES AND DOCUMENTS. AFTER FILLING OUT FORMS, REMEMBER TO HIT “ADD” ON THE DAY YOU’RE READY TO GO ACTIVE. YOU CANNOT GO BACK AND CHANGE THIS ONCE ADDED. PUT DOCS IN COMMAND AND SUBMIT TO MARKET CENTER. YOU CAN ACTIVATE YOUR OWN LISTING IF YOU HAVE PERMISSIONS. OTHERWISE STAFF WILL ACTIVATE YOUR LISTING THAT DAY.

CANNOT USE PREVIOUS PHOTOS WITHOUT PERMISSION. SOME ARE COPYRIGHTED..
CANNOT USE THE MLS EMAIL FOR PERSONAL USES. ONLY TO PROMOTE LISTINGS, OR RENTALS.
YOU HAVE 1 DAY TO ACTIVATE YOUR LISTING AFTER MARKETING TO THE PUBLIC. IF YOU NEED A LONGER TIME FRAME YOU CAN FILE THE EXEMPT LISTING FORM YOU FIND ON FLEX. THIS IS USED FOR AN EAL AND WILL ONLY BE MARKETED TO OUR OFFICE AND SYNDICATED WEBSITES. NOT ON THE MLS. YOU CAN ADD TO MLS LATER. (REFER TO THE CLEAR COOPERATION POLICY).
REMEMBER COMMISSIONS ARE NOT FIXED AND ARE NEGOTIABLE WITH THE SELLER or BUYER. THERE IS NO “STANDARD” COMMISSION. JUST SOME THAT ARE MORE COMMON.
MOST LISTINGS ARE COMMONLY TAKEN FOR A 6 MONTH DURATION. ALSO NEGOTIABLE. SOME TAKE LONGER, SOME SHORTER.
MOST IMPORTANT LISTING DOCUMENT IS THE SELLERS PROPERTY CONDITION DISCLOSURE. TELL YOUR SELLERS TO DISCLOSE, DISCLOSE, DISCLOSE EVERYTHING THEY KNOW.
SOME BUILDERS PROVIDE THEIR OWN DISCLOSURES, SOME DO NOT. EVERYONE BY LAW NEEDS TO PROVIDE DISCLOSURES EVEN IF NEVER OCCUPIED BY THEM. BUILDERS CAN PROVIDE DISCLOSURES ON LAND AND ANY IMPROVEMENTS THEREON. ALSO ANY ENROACHMENTS, EASEMENTS HOA INFO. ETC.
THERE IS A DIFFERENCE BETWEEN CANCELLED LISTINGS AND WITHDRAWN LISTINGS. CANCELLED IS PERMANENT. IF SELLER WANTS TO RELIST YOU CAN GO TO “COPY IN FLEX” AND ADD PHOTOS AND IT WILL AUTO RE INPUT THE DATA. WITHDRAWN IS TEMPORARY WHILE THE SELLER IS GETTING REFINANCING OR FIXING SOMETHING AND DOESN’T WANT THE LISTING ACTIVE. ALL WITHDRAWNS AND CANCELLATIONS ARE SENT IN COMMAND TO STAFF BY SUBMITTING THE CHANGE FORM. ALSO ANY EXTENSIONS.
LISTING BROKERS OFFER OF COMPENSATION IS MADE ONLY TO PARTICIPANTS OF THE MLS WHERE THE LISTING IS FILED. TYPICALLY MOST AGENTS HOWEVER WILL OFFER A SELLING COMMISSION TO OUTSIDE MEMBERS, BUT THIS SHOULD BE DISCUSSED PRIOR TO LISTING AGENT RECEIVING A CONTRACT OFFER. SOME BROKERS WILL OFFER LESS TO OUTSIDE MEMBERS BECAUSE THEY MAY HAVE TO PROVIDE MORE SERVICE IF THAT AGENT IS OUTSIDE THE AREA. AN OUTSIDE OF MLS BROKER CANNOT DEMAND A COMMISSION UNLESS OFFERED BY THE LISTING AGENT/BROKER. REMEMBER THE GOLDEN RULE HERE, AS YOU MAY WANT TO SELL A PROPERTY OUTSIDE OF YOUR MLS, AND WOULD WANT TO RECEIVE A COMMISSION AS WELL.
LEAD BASED PAINT DISCLOSURES SHOULD BE SIGNED, FILLED OUT AND ADDED TO ANY TRANSACTION FOR A HOME OLDER THAN 1978.
BEWARE OF PROPERTIES THAT BACK BLM OR PROTECTED PRIVATE PROPERTIES. YOU CAN NEVER GUARANTY THAT SOMEDAY THEY WILL OR WILL NOT BE DEVELOPED. NEVER PROMISE THAT TO ANY BUYER.
ALWAYS REFER TO AN APPRAISER FLOOD MAP WHEN SELLING PROPERTIES TO CASH BUYERS. MANY AREAS IN OUR COMMUNITIES HAVE WATERWAYS, RIVERS, STREAMS AND WATERSHEDS. THIS IS IMPORTANT INFORMATION FOR A BUYER TO KNOW. FLOOD INSURANCE IS INEXPENSIVE AND AVAILABLE. BUYERS WHO OBTAIN LOANS WILL LEARN ABOUT THIS WHEN LENDERS ORDER APPRAISALS. CASH BUYERS WILL NOT KNOW UNLESS THEY RESEARCH THAT.

2. SIGNAGE AND GENERAL RULES

CITY SIGN ORDINANCES. BE FAMILIAR WITH THE RULES. ON OPEN HOUSES YOU CAN ONLY HAVE 1 DIRECTIONAL SIGN AND ONE OPEN HOUSE SIGN ON THE PROPERTY. THESE SIGNS CANNOT BE ON CITY RIGHT OF WAYS OR SIDEWALKS BUT NEED TO BE ON PRIVATE PROPERTY. YOU WILL NEED PERMISSION FROM THE OWNER TO PLACE A DIRECTIONAL SIGN ON THE PROPERTY. ST. GEORGE CITY HAS TWO FULL TIME EMPLOYEES LOOKING FOR VIOLATORS. IF YOU LOSE A SIGN, CHECK THE DUMPSTER AREA BEHIND THE CITY OFFICES. THEY WILL BE CONFISCATED AND PLACED THERE TEMPORARILY. OTHER CITIES MAY HAVE DIFFERENT RULES.
NEW SIGNS MUST BE KW COMPLIANT AND COMPLY WITH STATE REQUIREMENTS. ALL ADVERTISING, WHETHER PRINTED OR SOCIAL MEDIA MUST HAVE THE BROKERAGES FULL LEGAL NAME SOMEWHERE ON THE ADVERTISING AND IN FULL VIEW OF THE READER. Staff CAN SHOW YOU WHERE TO FIND THE COMPLIANCY LOGOS.
THE RULE FOR PAYING A REFERRAL FEE IS THAT AN AMOUNT UP TO $250.00 CAN BE OFFERED FOR AN UNSOLICITED REFERRAL TO A NON AGENT. ANY AMOUNT CAN BE NEGOTIATED WITH ANOTHER AGENT WITHIN OR WITHOUT THE STATE OF UTAH.

3. CONTRACTS

EARNEST MONEY IS REQUIRED TO BE RECEIVED BY SELLING OFFICE WITHIN 4 CALENDAR DAYS AFTER EXECUTION OF CONTRACT. YOU WILL NEED TO SIGN A RECEIPT AND PROVIDE A COPY OF THE CHECK OR WIRE RECEIPT TO LISTING AGENT. OR IF YOU ARE THE LISTING AGENT YOU WILL NEED TO COLLECT A RECEIPT ALONG WITH A COPY OF THE CHECK OR WIRE FROM SELLING AGENT. EARNEST MONEY CAN BE PROVIDE TO A TITLE CO. BUT THE TITLE CO. MUST BE MENTIONED IN THE CONTRACT. RECEIPTS FROM TITLE MUST ALSO BE SHARED WITH OTHER AGENT. IF EM IS NOT RECEIVED IN THE 4 DAYS REQUIRED, COMMUNICATE WITH OTHER AGENT. ULTIMATELY SELLER CAN EITHER CANCEL FOR BREACH OF CONTRACT OR EXTEND DEADLINE IF THEY FEEL THAT THERE WAS A JUSTIFIABLE DELAY. IF SO, AN ADDENDUM SHOULD BE WRITTEN TO EXTEND THE DEADLINE. WE DO NOT ACCEPT WIRES TO OUR TRUST ACCOUNT. ALL WIRES MUST BE MADE TO TITLE. THE BROKERAGE HAS 4 CALENDAR DAYS TO DEPOSIT THE EARNEST MONEY.
IN SECTION 2. OF REPC (MONEY SECTION) CHANGES IN AMOUNTS OF CASH TO LOAN CAN BE ADJUSTED BY BUYER AND LENDER WITHOUT CONSENT OF SELLER.
BUYER CANCELLATION AND SELLER CANCELLATION FORMS 37 AND 49 ARE USED TO CANCEL A CONTRACT. READ EACH ONE CAREFULLY AS WELL AS REVIEWING SECTIONS 8 AND 16 OF THE REPC. IT IS MUCH EASIER FOR A BUYER TO CANCEL THAN IT IS FOR A SELLER. BEWARE TO USE THE CORRECT FORMS. IF A SELLER NEEDS TO FIND A REPLACEMENT PROPERTY OR IF THERE IS ANOTHER CONDITION OF SALE.
USE FORM 60, RESOLUTION OF DUE DILIGENCE ADDENDUM FOR ALL REPAIRS REQUESTED BY BUYER. REMEMBER ALL PROPERTIES ARE SOLD “AS IS”. THE SELLER DOES NOT HAVE TO AGREE TO THE REQUESTED REPAIRS. HOWEVER MOST OFTEN THEY WILL AGREE TO SOME, NOT ALL, OR OFFER TO PAY CLOSING COSTS OR REDUCE PRICE TO COVER THOSE.
IF APPRAISAL FAILS TO COME IN AT SALES PRICE OR ABOVE, A NEW NEGOTIATION IS NEEDED FOR A SOLUTION. TYPICALLY IF BUYER DECIDES TO MOVE FORWARD, SELLER CAN REDUCE PRICE OR BUYER CAN PAY IN CASH THE AMOUNT NEEDED TO MAKE UP THE DIFFERENCE. OR THE CONTRACT CAN BE CANCELLED. REMEMBER YOU CAN CHALLENGE AN APPRAISAL IF YOU HAVE SUFFICIENT COMPARABLES THAT THE APPRAISER DID NOT USE.
BE AWARE OF ALL CONTRACT DEADLINES. MAKE SURE YOU DO NOT PASS THEM WITHOUT EXTENDING OR CANCELLING. YOU ARE IN CHARGE OF PROTECTING YOUR BUYERS RIGHTS AND MONEY! USE FORM 40 CONTINGENT CANCELLATION ADDENDUM IF YOU CANNOT REACH AGENT OR AGENTS BROKER TO EXTEND BY THE EXPIRATION DEADLINES. THIS FORM ONLY REQUIRES BUYER TO SIGN AND CAN BE DELIVERED TO OTHER AGENT VIA EMAIL PRIOR TO THE DEADLINE. A PHONE CALL OR TEXT TO VERIFY DELIVERY SHOULD ALSO BE MADE.
ADDING OR REMOVING A BUYER OR SELLER FROM A CONTRACT REQUIRES SIGNATURES FROM ALL PARTIES INCLUDING THE NEW OR REMOVED PARTY.
TO BE DETERMINED DATES, SHOULD NOT BE USED UNLESS THERE IS A SUBJECT TO SELL CONDITION. YOU HAVE TO USE THESE BECAUSE THERE ARE NO KNOWN DATES. WHENEVER POSSIBLE USE HARD DATES!
REMEMBER TO CHECK ALL APPROPRIATE BOXES FOR ACCEPTANCE, COUNTER OFFER OR REJECTION ON REPC AND ALL ADDENDA.
DOC RECEIPTS SHOULD BE SIGNED BY THE PARTIES RECEIVING THE DOCUMENTS. IT IS ACCEPTABLE FOR AN AGENT TO SIGN THE RECEIPT, BUT NOT RECOMMENDED.
REMEMBER FOR ALL APPRAISER QUESTIONS REGARDING A SALE, YOU SHOULD COMMUNICATE YOUR QUESTIONS OR CONCERNS THROUGH THE LENDER. A FEW BASIC QUESTIONS CAN BE ASKED OF APPRAISER. BUYER IS PAYING FOR THE APPRAISAL AND LENDER HAS TO ORDER IT. YOU CANNOT INFLUENCE AN APPRAISER IN ANY WAY. HOWEVER IF THE APPRAISER ASKS YOU FOR ADDITIONAL COMPS OR REPAIRS YOU MAY HAVE USED, YOU CAN GIVE THEM THOSE. AGAIN YOU CAN CHALLENGE AN APPRAISAL USING COMPS YOU HAVE FOUND THAT THEY DID NOT USE.
YOUR QUESTIONS TO A BUYERS LENDER IF YOU ARE THE LISTING AGENT MUST BE LIMITED TO GENERAL QUESTIONS, SUCH AS: IS THE BUYER QUALIFIED AND ARE YOU GOING TO BE ABLE TO MEET THE DATES PROVIDED? NO PERSONAL INFORMATION CAN BE PROVIDED BY THE LENDER ON BUYERS..
WE HAVE RECENTLY ADDED A WIRE FRAUD DOCUMENT. THIS WILL BE REQUIRED FOR ALL BUYERS AND SELLERS TO SIGN GOING FORWARD! THIS FORM HAS ALSO BEEN ADDED AS A REQUIRED DOCUMENT IN THE EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT, AND THE EXCLUSIVE BUYER BROKER AGREEMENT.
IF THE “TIME FOR ACCEPTANCE” DEADLINE HAS PASSED WITHOUT GETTING SIGNATURES FROM THE OTHER PARTY, THE OFFER BECOMES VOIDABLE AT THE OPTION OF THE PARTY GIVING THE OFFER/COUNTER OFFER. A COUNTER OFFER IF USED CAN REINSTATE THE OFFER AS IT CREATES AN ENTIRELY NEW OFFER WITH A NEW TIME FOR ACCEPTANCE. SEE BELOW
REFER TO OUR “TIME FOR ACCEPTANCE” ARTICLE IN BROKER SUPPORT FOR MORE INFORMATION

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