Section 1. Listing Procedures

Listings of real or personal property, which are listed subject to a real estate broker’s license, and which are located within the respective primary service area of TREND and taken by Participants on listing contracts acceptable to TREND12 shall be electronically input or delivered to TREND within three (3) business days, unless precluded by law, after all necessary signatures of Seller(s) have been obtained and the listing term has begun.

Contracts acceptable to TREND are defined in sub-sections (a), (b), and (c).

The exclusive right to sell listing is the conventional form of listing submitted to TREND in that the Seller authorizes the listing Participant to cooperate with and to compensate other Participants. The exclusive agency listing also authorizes the listing Participant, as exclusive agent, to offer cooperation and compensation on blanket unilateral bases, but also reserves to the Seller the general right to sell the property on an unlimited or restrictive basis.

Exclusive agency listings and exclusive right to sell listings with named prospects exempted shall be clearly distinguished from exclusive right to sell listings with no named prospects exempted when reported to TREND, since they can present special risks of procuring cause controversies and administrative problems not posed by exclusive right to sell listings with no named prospects exempted. Care should be exercised to ensure that the correct designations are made in the Listing Type and Prospects Excluded fields to clearly identify exclusive agency and exclusive right to sell listings with prospect reservations.

Exception: TREND will accept open listing contracts where acceptance is required by law and/or when a settled property qualifies for inclusion in the MLS Database under the provisions of Section 2.10.