RULES & REGULATIONS Revised October 2014

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1 RULES & REGULATIONS Revised October 2014

2 Article I LISTING PROCEDURES Section 1 Listing Procedures Listings of real or personal property of the following types, which are listed subject to a real estate broker's license and are located within the territorial jurisdiction as defined in Article III of the Bylaws of the Cape Cod & Islands Multiple Listing Service, Inc. and are taken by Participants (DRs) on an exclusive right to sell, exclusive agency, or limited exclusive agency listing shall be delivered to the Multiple Listing Service (MLS) office within forty-eight (48) hours after all necessary signatures of Seller(s) have been obtained. (a) (c) single family homes for sale or exchange vacant lots and acreage for sale or exchange two-family, three-family, and four-family residential buildings for sale or exchange Note 1: The Multiple Listing Service (MLS) shall not require a Participant (DR) to submit listings on a form other than the form the Participant (DR) individually chooses to utilize provided the listing is of a type accepted by the Multiple Listing Service (MLS), although a Property Data Form may be required as approved by the Multiple Listing Service (MLS). However, the Multiple Listing Service (MLS), through its legal counsel: (a) May reserve the right to refuse to accept a listing form which fails to adequately protect the interests of the public and the Participant (DR). Assure that no listing form filed with the Multiple Listing Service (MLS) establishes, directly or indirectly, any contractual relationship between the Multiple Listing Service (MLS) and the client (buyer or seller). The Multiple Listing Service (MLS) shall accept exclusive right to sell listing contracts and exclusive agency listing contracts, and may accept other forms of agreement which make it possible for the listing broker to offer cooperation and compensation to the other Participants (DRs) of the Multiple Listing Service (MLS) acting as subagents, buyer agents, or both. The listing agreement must include the seller's written authorization to submit the agreement to the Multiple Listing Service (MLS). The different types of listing agreements include: (a) (c) (d) exclusive right to sell; exclusive agency; open; net. The Multiple Listing Service (MLS) may not accept net listings because they are deemed unethical and, in most states, illegal. Open listings are not accepted except where required by law because the inherent nature of an open listing is such as to usually not include the authority to cooperate and compensate other brokers and inherently provides a disincentive for cooperation. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 2 of 27

3 The exclusive right to sell listing is the conventional form of listing submitted to the Multiple Listing Service (MLS) in that the seller authorizes the listing broker to cooperate with and to compensate other brokers. The exclusive agency listing also authorizes the listing broker, 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 should be clearly distinguished by a simple designation such as a symbol from exclusive right to sell listings with no named prospects exempted, 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 different symbols are used to denote exclusive agency and exclusive right to sell listings with prospect reservations. Note 2: A Multiple Listing Service (MLS) does not regulate the type of listings its members may take. This does not mean that a Multiple Listing Service (MLS) must accept every type of listing. The Multiple Listing Service (MLS) shall decline to accept open listings (except where acceptance is required by law) and net listings, and it may limit its service to listings of certain kinds of property. But, if it chooses to limit the kind of listings it will accept, it shall leave its members free to accept such listings to be handled outside the Multiple Listing Service (MLS). Note 3: A Multiple Listing Service (MLS) may, as a matter of local option, accept exclusively listed property that is subject to auction. If such listings do not show a listed price, they may be included in a separate section of the MLS compilation of current listings. Section 1.1 Listing Subject to Rules and Regulations of the Multiple Listing Service (MLS) Any listing taken on a contract to be filed with the Multiple Listing Service (MLS) is subject to the rules and regulations of the Multiple Listing Service (MLS) upon signature of the seller(s). Section 1.2 Detail on Listings Filed with the Multiple Listing Service (MLS) A listing agreement or property data form, when filed with the Multiple Listing Service (MLS) by the listing broker, shall be complete in every detail which is ascertainable as specified in the property data form. Section 1.3 Change of Status of Listing Any change in listed price or other change in the original listing agreement shall be made only when authorized in writing by the Seller and shall be filed with the Multiple Listing Service (MLS) within forty-eight (48) hours (excepting weekends, holidays, and postal holidays) after the authorized change is received by the listing broker. Section 1.4 Withdrawal of Listing Prior to Expiration Listings of property may be withdrawn from the Multiple Listing Service (MLS) by the listing broker before the expiration date of the listing agreement, provided notice is filed with the Multiple Listing Service (MLS), including a copy of the Agreement between the Seller and the listing broker which authorizes the withdrawal. Sellers do not have the unilateral right to require an MLS to withdraw a listing without the listing broker's concurrence. However, when a Seller(s) can document that his exclusive relationship with the listing broker has been terminated, the Multiple Listing Service (MLS) may remove the listing at the request of the Seller. Properties that are withdrawn from the Multiple Listing Service (MLS) prior to the expiration date written on the listing agreement will still expire within the Multiple Listing Service (MLS) on the appropriate date, as written on the listing agreement. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 3 of 27

4 Section 1.5 Contingencies Applicable to Listings Any contingency or conditions of any term in a listing shall be specified and noticed to the Participant (DR). Section 1.6 Listing Price Specified The full gross listing price stated in the listing contract will be included in the information published in the MLS compilation of current listings, unless the property is subject to auction. Section 1.7 Expiration of Listings Listings filed with the Multiple Listing Service (MLS) will automatically be removed from the compilation of current listings on the expiration date specified in the agreement, unless prior to that date the MLS receives notice that the listing has been extended or renewed. If notice of renewal or extension is received after the listing has been removed from the compilation of current listings, the extension or renewal will be published in the same manner as a new listing. Extensions and renewals of listings must be signed by the Seller(s) and filed with the Multiple Listing Service (MLS). Section 1.8 Termination Date on Listings Listings filed with the service shall bear a definite and final termination date, as negotiated between the listing broker and the Seller. Section 1.9 Jurisdiction Only listings of the designated types of property located within the jurisdiction of the MLS are required to be submitted to the Multiple Listing Service (MLS). Listings of property located outside the MLS's jurisdiction will be accepted if submitted voluntarily by a Participant (DR) as a reciprocal listing. Section 1.10 Listings of SUSPENDED Participants (DRs) When a Participant (DR) of the Multiple Listing Service (MLS) is suspended from the Multiple Listing Service (MLS) for failing to abide by a membership duty (i.e. violation of the Code of Ethics, Association Bylaws, Multiple Listing Service (MLS) Bylaws, Multiple Listing Service (MLS) Rules and Regulations or other membership obligations EXCEPT failure to pay appropriate dues, fees, or changes), all listings currently filed with the Multiple Listing Service (MLS) by the suspended Participant (DR) shall, at the Participant's (DR s) option, be retained in the Multiple Listing Service (MLS) until sold, withdrawn, or expired and shall not be renewed or extended during the suspension period by the Multiple Listing Service (MLS) beyond the termination date of the listing agreement in effect when the suspension became effective. If a Participant (DR) has been suspended from the Association or the Multiple Listing Service, (MLS) (or both) for failure to pay appropriate dues, fees or charges, the Association Multiple Listing Service (MLS) is not obligated to provide the Multiple Listing Service (MLS) services, including continued inclusion of the suspended Participant's (DR s) listings in the Multiple Listing Service (MLS) compilation of current listing information. Prior to any removal of a suspended Participant's (DR s) listings from the Multiple Listing Service (MLS), the suspended Participant (DR) should be advised in writing of the intended removal so that the suspended Participant (DR) may advise his clients. Section 1.11 Listings of EXPELLED Participants (DRs) When a Participant (DR) of the Multiple Listing Service is expelled from the Listing Service for failing to abide by a membership duty (i.e., violation of the Code of Ethics, association bylaws, MLS bylaws, MLS rules and regulations, or other membership obligations except failure to pay appropriate dues, fees, or charges), all listings currently filed with the MLS by the expelled Participant (DR) shall, at the Participant (DR) s option, be retained in the service until sold, withdrawn, or expired and shall not be renewed or extended by the MLS beyond the termination date of the listing agreement in effect when the expulsion became effective. If a Participant (DR) has been expelled from the association (except where MLS participation without association membership is permitted by law) or MLS (or both) for failure to pay appropriate dues, fees, or charges, an association MLS is not obligated to provide MLS services, (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 4 of 27

5 including continued inclusion of the expelled Participant (DR) s listings in the MLS compilation of current listing information. Prior to any removal of any Participant (DR) s listings from the MLS, the expelled Participant (DR) should be advised, in writing, of the intended removal so that the expelled Participant (DR) may advise his clients. Section 1.12 Resignation from Multiple Listing Service (MLS) Resignation of any member (DR) from the Multiple Listing Service (MLS) shall be made in writing to the Executive Committee. Said resignation shall become effective immediately; however, members (DR) who have not paid all obligations to the MLS, including membership fees, service charges, fines or invoices, will not be held in good standing until all obligations are paid. In addition, all charges left unpaid shall remain open and will have to be paid before the resigned member (DR) may rejoin. Section Listings of RESIGNED Participants (DRs) When a Participant (DR) of the Multiple Listing Service (MLS) resigns and resignation is accepted and becomes effective, the Multiple Listing Service (MLS) is not obligated to provide continued inclusion of resigned Participant's (DR s) listings in the MLS Compilation of current listing information. Prior to any removal of a resigned Participant's (DR s) listings from the Multiple Listing Service (MLS), the resigned Participant (DR) shall be advised of the intended removal so that the resigned Participant (DR) may advise his clients. Section 1.13 Listings of property located outside the Association's jurisdiction will be accepted if submitted voluntarily by a Participant (DR), but are not required by the Multiple Listing Service (MLS). Such listings, if submitted, fall under the same Rules & Regulations as all other listings accepted by the Multiple Listing Service (MLS). Section 1.14 A listing taken on an approved form immediately comes under the Rules & Regulations of the Multiple Listing Service (MLS) upon signature of the Seller(s). In the event property so listed is sold before filing with the Multiple Listing Service (MLS), filing of said listing will still be required under these Rules & Regulations. Section 1.15 All Participants (DRs) of the Multiple Listing Service (MLS) shall present to all potential Sellers the benefits of the Multiple Listing Service (MLS). Section Exempted Listings If the seller refuses to permit the listing to be disseminated by the service, the Participant (DR) may then take the listing (office exclusive) and such listing shall be filed with the service but not disseminated to the Participant (DR) s. Filing of the listing should be accompanied by certification signed by the seller that he does not desire the listing to be disseminated by the service. Section 1.16 A listing agreement on an approved form, when entered and filed with the Multiple Listing Service (MLS) by the licensing broker, shall bear a specific beginning date and termination date and shall be complete in every detail which is ascertainable with no abbreviations and as required on the listing agreement form, including, but not limited to, the following: (a) (c) name of owner(s) and address of property to be marketed; signatures of all parties whose signatures are required to make a binding contract authorizing sale of property; complete terms of sale; (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 5 of 27

6 (d) (e) (f) complete information on location and all other information required to make a complete description of the property including legal description or title reference; date the contract was fully executed; termination date of agreement. Section 1.17 The property data form, complete with photo or artist's sketch of the building, or if vacant land, a sketch of the lot with dimensions, shall be input into the Multiple Listing Service (MLS) office within five (5) business days after execution of the listing agreement except where sellers expressly direct that photographs or other graphic representations of their property not appear in Multiple Listing Service (MLS) complations. Section 1.18 The listing broker has the responsibility to check the Multiple Listing and computer within five (5) days of listing submission for the accuracy of each listing he filed with the Multiple Listing Service. The listing broker holds the Multiple Listing Service (MLS) harmless against any liability arising from any inaccuracy or inadequacy of information filed with the Multiple Listing Service (MLS), including errors in publication or otherwise. Section 1.19 A listing with conditions (i.e. tenancy, license to sell, restrictions, etc.) may be filed with the Multiple Listing Service (MLS) provided the condition is clearly stated on both the listing agreement and property data form under "Agent Remarks". Section 1.20 Any change in listed price or any other change in the original listing agreement shall be made only when authorized in writing by the owner(s) and shall be filed within forty-eight (48) hours after notice is received by the listing broker and on forms provided by the Multiple Listing Service (MLS). Section 1.21 All properties which are to be sold separately (i.e. lots, condominiums, etc.) shall be listed individually. Section 1.22 The full gross listing price shall be stated on the listing agreement. Section 1.23 Any listing filed with the Multiple Listing Service (MLS) automatically cancels at the expiration thereof unless renewed and notice of renewal is filed with the Multiple Listing Service (MLS) prior to cancellation from the Multiple Listing Service (MLS), provided: (a) if notice of renewal or extension is received prior to cancellation from the Multiple Listing Service (MLS), or after cancellation of the listing but on such form that allows for extension of the listing after the expiration date, then such notice of renewal shall be published by the Multiple Listing Service(MLS); (1) if notice of renewal or extension is dated after expiration date of the original listing agreement or previous valid extension and is not on a form expressly affirming the continuation of the listing from original expiration date to the date of the extension, or (2) if ANY extension is received by the Multiple Listing Service, (MLS) more than 30 days after the expiration date of the listing, THEN, a new listing must be secured for the listing to be filed with the (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 6 of 27

7 Multiple Listing Service (MLS). It should then be published as listing. a new an extension or renewal of a listing may be filed with the Multiple Listing Service (MLS) only on a form approved by the Multiple Listing Service (MLS) and signed by the Seller(s). Section 1.24 No Control of Commission Rates or Fees Charged By Participant (DR) The Multiple Listing Service (MLS) shall not fix, control, recommend, suggest, or maintain commission rates or fees for service to be rendered by Participants (DRs). Further, the Multiple Listing Service (MLS) shall not fix, control, recommend, suggest, or maintain the division of commissions or fees between cooperating Participants (DRs) and Non-Participants (non-drs). Article II SELLING AND SHOWING PROCEDURES Section 2.1 Showing and Negotiations Appointments for showings and negotiations with the SELLER(s) for the purchase of property filed with the Multiple Listing Service (MLS) shall be conducted through the listing broker or his representative except: (a) the listing broker or his representative gives the cooperating broker (subagent or buyer agent or both) specific authority to show and/or negotiate directly or: after reasonable efforts, the cooperating broker cannot contact the listing broker or his representative; however, the listing broker, at his option, may preclude such direct negotiations by cooperating brokers. Section 2.2 After showing a listing filed with the Multiple Listing Service (MLS), if requested, the cooperating broker (subagent or buyer agent) shall notify the listing broker or his representative of the name of the customer to whom the property was shown. Section 2.3 Presentation of Offers The listing broker or his representative must make arrangements to present an offer as soon as possible, or give to the cooperating broker (subagent or buyer agent) a satisfactory reason for not doing so. Section 2.4 Right of Cooperating Broker in Presentation of Offer The cooperating broker (subagent or buyer agent) or his representative has the right to participate in the presentation to the seller or lessor of any offer he secures to purchase or lease. He does not have the right to be present at any discussion or evaluation of that offer by the seller or lessor and the listing broker. However, if the seller or lessor gives written instructions to the listing broker that the cooperating broker not be present when an offer the cooperating broker secured is presented, the cooperating broker has the right to a copy of the seller's or lessor s written instructions. None of the foregoing diminishes the listing broker's right to control the establishment of appointments for such presentations. Section 2.5 Right of Listing Broker in Presentation of Counter-Offer The listing broker or his representative has the right to participate in the presentation of any counter-offer made by the seller or lessor. He does not have the right to be present at any discussion or evaluation of a counter-offer by the purchaser or lessee (except when the cooperating broker is a subagent). However, if the purchaser or lessee gives written instructions to the cooperating broker that the listing broker not be present when a counter-offer is presented, the listing broker has the right to a copy of the purchaser's or lessee's written instructions. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 7 of 27

8 Section 2.6 Reporting Sales to the Service Status changes, including final closings of sales, shall be reported to the Multiple Listing Service (MLS) by the listing broker within seventy-two (72) hours after they have occurred. If negotiations were carried out under Section 2.13 a. or b. hereof, the cooperating broker shall report accepted offers to the listing broker within seventy- two (72) hours after occurrence and the listing broker shall report them to the Multiple Listing Service (MLS) within seventy-two (72) hours after receiving notice from the cooperating broker. Note: The listing agreement of a property filed with the Multiple Listing Service (MLS) by the listing broker should include a provision expressly granting the listing broker authority to advertise; to file the listing with the Multiple Listing Service (MLS); and to provide sales information including selling price to the Multiple Listing Service (MLS) upon sale of the property. If deemed desirable by the Multiple Listing Service (MLS) to publish sales information prior to final closing (settlement) of a sales transaction, the listing agreement should also include a provision expressly granting the listing broker the right to authorize dissemination of this information by the Multiple Listing Service (MLS) to its Participants (DRs). Section 2.7 Submission of Written Offers The listing broker shall submit to the seller all written offers until closing unless precluded by law, government rule, regulations, or agreed otherwise in writing between the seller and the listing broker. Unless the subsequent offer is contingent upon the termination of an existing contract, the listing broker shall recommend that the seller obtain the advice of legal counsel prior to acceptance of the subsequent offer. Section 2.8 The listing broker or his representative shall deliver to the cooperating broker (subagent or buyer agent) a copy of the signed offer to purchase within forty-eight (48) hours after receipt of executed offer. Section 2.9 Under contract shall be reported by the listing office to the Multiple Listing Service (MLS) office within twenty-four (24) hours of the full execution of said contract (offer or Purchase and Sales [P&S], whichever comes first) All reports of sales closed (settlement) shall be filed by the listing office with the Multiple Listing Service (MLS) office within seventy-two (72) hours after closing is held (settlement). Reporting to the Multiple Listing Service (MLS) shall include an accurate representation of the selling agent and company. Section The Contingent status will require one of the following conditions to be selected/identified within the Multiple Listing Service (MLS): Inspection, Attorney Review, Appraisal, Financing, Third Party Approval, Pending Purchase & Sale, or Home Sale Contingency. Section Commercial listings with contingencies may remain in Active status until all sales contingencies are met, under the direction of principal. Section 2.10 The listing broker or his representative shall deliver to the selling broker a copy of the signed sales agreement within forty-eight (48) hours after receipt of executed agreement. Section 2.11 The listing broker or his representative shall file notice with the Multiple Listing Service (MLS) office within seventy-two (72) hours of the time that a contingency on file with the Multiple Listing Service (MLS) office has been fulfilled or renewed, or the agreement is cancelled. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 8 of 27

9 Section 2.12 The listing office shall report immediately or within twenty-four (24) hours to the Multiple Listing Service (MLS) office at the time any under contract is cancelled. Listing shall be reinstated immediately as long as expiration date of listing has not passed. Section 2.13 Advertising of any listing by a Participant (DR), other than the listing broker, is permissible only with consent of the listing broker. Section 2.14 All participating brokers in a cooperative sale shall be noted on the Purchase and Sales Agreement (P&S). ARTICLE III REFUSAL TO SELL Section 3 If the seller of any listed property filed with the Multiple Listing Service refuses to accept a written offer satisfying the terms and conditions stated in the listing, such fact shall be transmitted immediately to the Multiple Listing Service and to all Participants (DRs). Article IV PROHIBITIONS Section 4 Information for Participants (DRs) only Any listing filed with the Multiple Listing Service (MLS) shall not be made available to any broker or firm not a Member of the Multiple Listing Service (MLS) without prior consent of the listing broker. Section 4.1 "FOR SALE" Signs Only the "FOR SALE" signs of the listing broker may be placed on a property. Section 4.2 "SOLD" Signs Prior to closing, only the "SOLD" sign of the listing broker may be placed on a property, unless the listing broker authorizes the cooperating (selling) broker to post such a sign. Section 4.3 Solicitation of Listing Filed with the Multiple Listing Service (MLS) Participants (DRs) shall not solicit a listing on property filed with the Multiple Listing Service (MLS) unless such solicitation is consistent with Article 16 of the REALTORS Code of Ethics, its Standards of Practice and its Case Interpretations. Note: This section is to be construed in a manner consistent with Article 16 of the Code of Ethics and particularly Standard of Practice This section is intended to encourage sellers to permit their properties to be filed with the Multiple Listing Service (MLS) by protecting them from being solicited, prior to expiration of the listing, by brokers and salespersons seeking the listing upon its expiration. Without such protection, a seller could receive hundreds of calls, communications, and visits from brokers and salespersons who have been made aware through the MLS filing of the date the listing will expire and desire to substitute themselves for the present broker. This section is also intended to encourage brokers to participate in the Multiple Listing Service (MLS) by assuring them that other Participants (DRs) will not attempt to persuade the seller to breach the listing agreement or to interfere with their attempts to market the property. Absent the protection afforded by this section, listing brokers would be most reluctant to generally disclose the identity of the seller or the availability of the property to other brokers. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 9 of 27

10 Section 4.4 Use of the Term MLS and Multiple Listing Service No MLS participant, subscriber or licensee affiliated with any participant shall, through the name of their firm, their URLs, their addresses, their website addresses, or in any other way represent, suggest, or imply that the individual or firm is an MLS, or that they operate an MLS. Participants, subscribers and licensees affiliated with participants shall not represent, suggest, or imply that consumers or others have direct access to MLS databases, or that consumers or others are able to search MLS databases available only to participants and subscribers. This does not prohibit participants and subscribers from representing that any information they are authorized under MLS rules to provide to clients or customers is available on their websites or otherwise. Article V DIVISION OF COMMISSIONS Section 5 Compensation Specified on each Listing The listing broker shall specify, on each listing filed with the Multiple Listing Service (MLS), the compensation offered to other Multiple Listing Service (MLS) Participants (DRs) for their services in the sale of such listing. Such offers are unconditional except that entitlement to compensation is determined by the cooperating broker s performance as the procuring cause of the sale (or lease) or as otherwise provided for in this rule. The listing broker s obligation to compensate any cooperating broker as the procuring cause of the sale (or lease) may be excused if it is determined through arbitration that, through no fault of the listing broker and in the exercise of good faith and reasonable care, it was impossible or financially unfeasible for the listing broker to collect a commission pursuant to the listing agreement. In such instances, entitlement to cooperative compensation offered through the Multiple Listing Service (MLS) would be a question to be determined by an arbitration hearing panel based on all relevant facts and circumstances including, but not limited to, why it was impossible or financially unfeasible for the listing broker to collect some or all of the commission established in the listing agreement; at what point in the transaction did the listing broker know (or should have known) that some or all of the commission established in the listing agreement might not be paid; and how promptly had the listing broker communicated to cooperating brokers that the commission established in the listing agreement might not be paid. In filing a property with the Multiple Listing Service (MLS) of an Association of REALTORS, the Participant (DR) of the Multiple Listing Service (MLS) is making blanket unilateral offers of compensation to the other Multiple Listing Service (MLS) Participants (DRs), and shall therefore specify on each listing filed with the Multiple Listing Service (MLS), the compensation being offered to the other Multiple Listing Service (MLS) Participants (DRs). Specifying the compensation on each listing is necessary, because the cooperating broker has the right to know what his compensation shall be prior to his endeavor to sell. 1 1 The compensation specified on listings filed with the Multiple Listing Service (MLS) shall appear in one of two forms. The essential and appropriate requirement by an Association Multiple Listing Service (MLS) is that the information to be published shall clearly inform the Participants (DRs) as to the compensation they will receive in cooperative transactions unless advised otherwise by the listing broker in writing in advance of submitting an offer to purchase. The compensation specified on listings published by the Multiple Listing Service (MLS) shall be shown in one of the following forms: (a) By showing a percentage of the gross selling price By showing a definite dollar amount (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 10 of 27

11 The listing broker retains the right to determine the amount of compensation offered to other Participants (DRs) (acting as subagents, buyer agents, or in other agency or non-agency capacities defined by law) which may be the same or different. This shall not preclude the listing broker from offering any Multiple Listing Service (MLS) Participant (DR) compensation other than the compensation indicated on any listing published by the Multiple Listing Service (MLS) provided the listing broker informs the other broker, in writing, in advance of submitting an offer to purchase, and provided that the modification in the specified compensation is not the result of any agreement among all or any other Participants (DRs) in the Multiple Listing Service (MLS). Any superseding offer of compensation must be expressed as either a percentage of the gross sale price or as a flat dollar amount. Note 1: The Association Multiple Listing Service (MLS) shall not have a rule requiring the listing broker to disclose the amount of total negotiated commission in his listing contract, and the Association Multiple Listing Service (MLS) shall not publish the total negotiated commission on a listing which has been submitted to the Multiple Listing Service (MLS) by a Participant (DR). The Association Multiple Listing Service (MLS) shall not disclose in any way the total commission negotiated between the seller and the listing broker. Note 2: The listing broker may, from time to time, adjust the compensation offered to other Multiple Listing Service (MLS) Participants (DRs) for their services with respect to any listing by advance published notice to the Multiple Listing Service (MLS) so that all Participants (DRs) will be advised. Note 3: The Multiple Listing Service (MLS) shall make no rule on the division of commissions between Participants (DRs) and non-participants (non-drs). This should remain solely the responsibility of the listing broker. Note 4: Multiple Listing Services (MLS), at their discretion, may adopt rules and procedures enabling listing brokers to communicate to potential cooperating brokers that gross commissions established in listing contracts are subject to court approval, and that compensation payable to cooperating brokers may be reduced if the gross commission established in the listing contract is reduced by a court. In such instances, the fact that the gross commission is subject to court approval and either the potential reduction in compensation payable to cooperating brokers or the method by which the potential reduction in compensation will be calculated must be clearly communicated to potential cooperating brokers prior to the time they submit an offer that ultimately results in a successful transaction. Note 5: Nothing in these Multiple Listing Service (MLS) rules precludes a listing Participant (DR) and a cooperating Participant (DR), as a matter of mutual agreement, from modifying the cooperative compensation to be paid in the event of a successful transaction. Section 5.01 Disclosing Potential Short Sales The Multiple listing service (MLS) must give Participants (DRs) the ability to disclose to other Participants (DRs) any potential for a short sale. As used in these rules, short sales are defined as a transaction where title transfers, where the sale price is insufficient to pay the total of all liens and costs of sale and where the seller does not bring sufficient liquid assets to the closing to cure all deficiencies. The Multiple Listing Service (MLS) may, as a matter of local discretion, require Participants (DRs) to disclose potential short sales when Participants (DRs) know a transaction is a potential short sale. In any instance where a Participant (DR) discloses a potential short sale, they may, as a matter of local discretion, also be permitted to communicate to other Participants (DRs) how any reduction in the gross commission established in the listing contract required by the lender as a condition of approving the sale will be apportioned between listing and cooperating Participants (DRs). All confidential disclosures and confidential information related to short sales, if allowed by local rules, must be communicated through dedicated fields or confidential remarks available only to Participants (DRs) and subscribers. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 11 of 27

12 Participants (DRs) must disclose potential short sales when reasonably known to the listing Participant (DR). When disclosed, a Participant (DR) may, at their discretion, advice other Participants (DRs) whether and how any reduction in the gross commission established in the listing agreement, required by the lender as a condition of approving the sale, will be apportioned between listing and cooperating Participants (DRs). Section 5.1 Participant (DR) As Principal If a Participant (DR) or any licensee (or licensed or certified appraiser) affiliated with a Participant (DR) has any ownership interest in a property, the listing of which is to be disseminated through the Multiple Listing Service (MLS), that person shall disclose that interest when the listing is filed with the Multiple Listing Service (MLS) and such information shall be disseminated to all Multiple Listing Service (MLS) Participants (DRs). Section 5.2 Participant (DR) as Purchaser If a Participant (DR) or any licensee (including licensed and certified appraisers) affiliated with a Participant (DR) wishes to acquire an interest in property listed with another Participant (DR), such contemplated interest shall be disclosed, in writing, to the listing broker not later than the time an offer to purchase is submitted to the listing broker. Section 5.3 Dual or Variable Rate Commission Arrangements The existence of a dual or variable rate commission arrangement (i.e., one in which the seller/landlord agrees to pay a specified commission if the property is sold/leased by the listing broker without assistance and a different commission if the sale/lease results through the efforts of a cooperating broker; or one in which the seller/landlord agrees to pay a specified commission if the property is sold/leased by the listing broker either with or without the assistance of a cooperating broker and a different commission if the sale/lease results through the efforts of a seller/landlord) shall be disclosed by the listing broker as required by the Multiple Listing Service (MLS.) The listing broker shall, in response to inquiries from potential cooperating brokers, disclose the differential that would result in either a cooperative transaction or, alternatively, in a sale/lease that results through the efforts of the seller/landlord. If the cooperating broker is a buyer/tenant representative, the buyer/tenant representative must disclose such information to their client before the client makes an offer to purchase or lease. Article VI SERVICE CHARGES Section 6 Service Fees and Charges The following service charges for operation of the Multiple Listing Service (MLS) are in effect to defray costs of the Multiple Listing Service (MLS) and are subject to change from time to time by the Board of Directors: (a) An initial participation fee for Participant (DR) member status, which shall accompany each application submitted in full. The amount of the current participation fee may be obtained by calling the Multiple Listing Service (MLS) office. Additional branch offices do not incur a separate fee and must be registered with the Multiple Listing Service (MLS) office. The Participant (DR) will be assessed a monthly charge for every associate. The amount of the current service charges may be obtained by calling the Multiple Listing Service (MLS) office. Administrators, one per office will be assessed a reduced fee which can be obtained by calling the Multiple Listing Service (MLS) office. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 12 of 27

13 Section 6.1 Charges shall begin on the first day of the month in which a member Participant (DR) shall be notified of acceptance. Article VII COMPLIANCE WITH RULES Section 7 Compliance with Rules -- Authority to Impose Discipline By becoming and remaining a Participant (DR) or Subscriber (Agent) in this Multiple Listing Service (MLS), each Participant (DR) and Subscriber (Agent) agrees to be subject to the Rules and Regulations and any other Multiple Listing Service (MLS) governance provision. The Multiple Listing Service (MLS) may, through the administrative and hearing procedures established in these rules, impose discipline for violations of the rules and other Multiple Listing Service (MLS) governance provisions. Discipline that may be imposed may only consist of one or more of the following: (a) (c) letter of warning; letter of reprimand; attendance at Multiple Listing Service (MLS) orientation or other appropriate courses or seminars which the Participant (DR) or Subscriber (Agent) can reasonably attend taking into consideration cost, location, and duration; (d) appropriate, reasonable fine not to exceed $15,000; (e) (f) (g) probation for a stated period of time not less than thirty (30) days nor more than one (1) year; suspension of Multiple Listing Service (MLS) rights, privileges, and services for not less than thirty (30) days nor more than one (1) year; termination of Multiple Listing Service (MLS) rights, privileges, and services with no right to reapply for a specified period not to exceed three (3) years. Section 7.1 Compliance with Rules The following action may be taken for non-compliance with the rules: (a) For failure to pay any service charge, invoice or fine within one month after the due date, the member Participant (DR) may be dropped from membership in the Multiple Listing Service (MLS) by the Board of Directors, in its discretion and without reference to any other provisions of the Bylaws or these Rules and Regulations. Such actions shall become final one month after giving written notice of the action unless, within that time and subject to acceptance by the Board of Directors, the full amount due is paid. If the action of the Board of Directors has become final, the dropped member Participant (DR)s (DRs) may apply for reinstatement in the manner prescribed for new applicants for membership. The Membership office has the option of discontinuing MLS access to a company who has a subscriber who has not paid the MLS non-realtor assessment fee. (c) For failure to comply with any rules, the provisions of Article VIII, Section 8, 8.1 and 8.2 shall apply. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 13 of 27

14 Note: Generally, warning, censure, and the imposition of a moderate fine are sufficient to constitute a deterrent to violation of the Rules and Regulations of the Multiple Listing Service (MLS). Suspension or termination is an extreme sanction to be used in cases of extreme or repeated violation of the Rules and Regulations of the Multiple Listing Service (MLS). If the Multiple Listing Service (MLS) desires to establish a series of moderate fines, they should be clearly specified in the Rules and Regulations. Article VIII ENFORCEMENT OF RULES OR DISPUTES Section 8 Consideration of Alleged Violations The Protocol/Violations Committee shall give consideration to all written complaints from Participants (DRs) having to do with violations of the Rules and Regulations. Section 8.1 Violations of Rules and Regulations If the alleged offense is a violation of the Rules and Regulations of the Multiple Listing Service (MLS) and does not involve a charge of alleged unethical conduct or request for arbitration, it may be administratively considered and determined by the Protocol/Violations Committee of the Multiple Listing Service (MLS) and if a violation is then determined, the Protocol/Violations Committee may direct the imposition of sanction provided the recipient of such sanction may request a hearing before the Professional Standards Committee of the Association in accordance with the Bylaws and Rules and Regulations of the Association of REALTORS within twenty (20) days following receipt of the Protocol/Violations Committee of the Multiple Listing Services (MLS) decision. If, rather than conducting an administrative review, the Multiples Listing Services (MLS) Protocol/Violations has a procedure established to conduct hearings, the decision of the Multiple Listing Service (MLS) Committee may be appealed to the Board of Directors of the Association of REALTORS within twenty (20) days of the tribunal s decision being rendered. Alleged violations involving unethical conduct shall be referred to the Association s Grievance Committee for processing in accordance with the Professional Standards procedures of the Association. If the charge alleges a refusal to arbitrate, such charge shall be referred directly to the Board of Directors of the Association of REALTORS. Section 8.2 Complaints of Unethical Conduct All other complaints on unethical conduct shall be referred by the Multiple Listing Service (MLS) Board of Directors to the Association of REALTORS for appropriate action in accordance with the usual procedure under terms of the Association's Bylaws. Article IX FINES Section 9 Fines Please refer to Section 1.10 for Listings of Suspended Participants (DRs) and Section 1.11 for Listings of Expelled Participants (DRs). Refer to Article VII for Compliance with the Rules and Article VIII for Enforcement of the Rules and Disputes. Failure to pay any fine due the Cape Cod & Islands Multiple Listing Service, Inc. within fifteen (15) days of its due date, and provided at least ten (10) days written notice has been given to such Participant (DR), all privileges of the Cape Cod & Islands Multiple Listing Service, Inc. will be suspended to such Participant (DR) until said fine is paid in full or satisfactory arrangements for payment of said fine are made with the Multiple Listing Service (MLS). If a letter of suspension to a Participant (DR) is required a second time, and the Participant (DR) has been reinstated once based on a previous suspension, the second and every subsequent suspension thereafter shall require a Two Hundred ($200) Dollar fee for (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 14 of 27

15 reinstatement and progress up to One Thousand ($1,000) Dollars in two hundred ($200) Dollar increments. All violations will be determined individually and all fines will be preceded by an notice of the violation from the Cape Cod and Islands Multiple Listing Service office to the Participant (DR) and Subscriber (agent). Said contact will require a confirmation and the Cape Cod and Islands Multiple Listing Service, Inc. office will follow it up with a phone call unless the violation is voluntarily corrected within forty-eight (48) hours of the . If a phone call does not bring an immediate solution to the violation the Cape Cod and Islands Multiple Listing Service, Inc. office will mail a letter certified return receipt to the Participant (DR) with the notice of a fine and/or mandatory education session, to be completed within thirty (30) days of notice or subject to a two hundred and fifty ($250) dollar fine. The 10 days of written notice, addressed within this Article (IX) will begin on the date of the mailed letter. Violation Fine Failure to input a listing into the Multiple Listing Service (MLS) computer, including faxing/mailing a copy of said contract to the Multiple Listing Service (MLS) office within forty-eight (48) hours after all necessary signatures are obtained. All Listings shall be considered Unapproved until said documents are uploaded. All Listing Agreements shall have the Seller s authorization to submit to the Multiple Listing Service (MLS). This violation shall not apply where the seller of a property listed on the Multiple Listing Service (MLS) has directed that legally-required disclosure information and documents not be disseminated through the Multiple Listing Service (MLS). All entries into the Multiple Listing Service (MLS) computer system must be complete and include accurate information in all mandatory fields, an accurate expiration date and an accurate Seller s name. If a Participant (DR) or Subscriber (Agent) attempts to inaccurately represent the Days on Market (DOM) by changing an address for the same Tax ID will be subject to a fine. Failure to submit a non-branded photo or sketch of the lot or building within five (5) business days of the date the listing is entered into the Multiple Listing Service (MLS). This violation shall not apply where the seller of a property listed on the Multiple Listing Service (MLS) has expressly directed that photographs or graphic representations of their property not appear in Multiple Listing Service (MLS) compilations. Failure to forward to the Multiple Listing Service (MLS) office an extension, withdrawal Twenty-five ($25) dollars a day from the date of Seller s signatures up to One Thousand ($1000) dollars. Twenty-five ($25) dollars a day from the date of entry and a mandatory education session on the Multiple Listing Service (MLS) Rules and Regulations within thirty (30) days. Two hundred ($200) dollars. Twenty five ($25) dollars a day from date of entry. Two hundred and fifty ($250) dollar fine, if NO form is filed with the Multiple Listing Service (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 15 of 27

16 or price change form within forty-eight (48) hours, with Seller s signature, and entry into the computer. If a listing is NOT entered as Under Contract or Contingent within twenty-four (24) hours of fully executed offer or Purchase and Sales (P&S) - whichever is fully executed first. Commercial listings with contingencies may remain in Active status until all sales contingencies are met, under the direction of principal. (MLS) office there will be mandatory education on the Multiple Listing Service (MLS) Rules and Regulations within thirty (30) days. Twenty-five ($25) dollars a day and mandatory education session on the Multiple Listing Service (MLS) Rules and Regulations within thirty (30) days. Failure to enter a listing as sold within seventy-two (72) hours of the closing and to include the accurate Selling agent and Company into the Multiple Listing Service (MLS) data system. Failure to notify the Multiple Listing Service (MLS) within seventy-two (72) hours of a change in status of an associate. Any Participant (DR) or Subscriber (Agent) who fails to show up at a MLS Tour when they have a scheduled house on the Tour, the second violation will result in a fine. Agent Remarks shall include all conditions if applicable i.e. Broker/Owner and short Sales. Public Remarks shall be reserved for a description of the property only. Failure to disclose the existence of a short Sale or foreclosure if known by the Listing Agent when the listing is input into the Multiple Listing Service (MLS). In the event that a Participant (DR) uses IDXprovided listings for any purpose other than display on their website. Pursuant to IDX Failure to identify the listing firm in a prominent location and in a readily visible color and typeface not smaller than median used in the display of listing data. Twenty-five ($25) dollars a day and mandatory education session on the Multiple Listing Service (MLS) Rules and Regulations within thirty (30) days. One hundred ($100) dollar fine. One hundred ($100) dollars and a mandatory education session to review the MLS Tour Protocol Sheet within thirty (30) days. One hundred ($100) dollar fine. One hundred ($100) dollar fine. Two hundred and fifty ($250) dollar fine. Five hundred ($500) dollar fine. One thousand ($1,000) dollar fine. Article X CONFIDENTIALITY OF MULTIPLE LISTING SERVICE (MLS) INFORMATION SECTION 10 Confidentiality of Multiple Listing Service (MLS) Information Any information provided by the Multiple Listing Service (MLS) to the Participants (DRs) shall be considered official information of the Multiple Listing Service (MLS). Such information shall be (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 16 of 27

17 considered confidential and exclusively for the use of Participants (DRs) and real estate licensees affiliated with such Participants (DRs) and those Participants (DRs) who are licensed or certified by an appropriate state regulatory agency to engage in the appraisal of real property and licensed or certified appraisers affiliated with such Participants (DRs). Section 10.1 Multiple Listing Service (MLS) Not Responsible for Accuracy of Information The information published and disseminated by the Multiple Listing Service (MLS) is communicated verbatim, without change by the Multiple Listing Service (MLS), as filed with the Multiple Listing Service (MLS) by the Participant (DR). The Multiple Listing Service (MLS) does not verify the information provided and disclaims any responsibility for its accuracy. Each Participant (DR) agrees to hold the Multiple Listing Service (MLS) harmless against any liability arising from any inaccuracy or inadequacy of the information such Participant (DR) provides and agrees to take no legal action against the Multiple Listing Service (MLS) on account of reliance on said information. Section 10.2 Access to Comparable and Statistical Information Association members (DRs) who are actively engaged in real estate brokerage, management, appraising, land development, or building, but who do not participate in the Multiple Listing Service (MLS), are nonetheless entitled to receive by purchase or lease all information other than current listing information that is generated wholly or in part by the Multiple Listing Service (MLS), including comparable information, sold information, and statistical reports. This information is provided for the exclusive use of Association members (DRs) and individuals affiliated with Association members (DRs) who are also engaged in the real estate business and may not be transmitted, retransmitted, or provided in any manner to any unauthorized individual, office, or firm, except as otherwise provided in these rules and regulations. Article XI OWNERSHIP OF MULTIPLE LISTING SERVICE (MLS) COMPILATIONS AND COPYRIGHTS Section 11 By the act of submitting any property listing content to the MLS the Participant (DR) represents that he has been authorized to grant and also thereby does grant authority for the Multiple Listing Service (MLS) to include the property listing content in its copyrighted Multiple Listing Service (MLS) compilation and also in any statistical report on comparables. Listing content includes, but is not limited to, photographs, images, graphics, audio and video recordings, virtual tours, drawings, descriptions, remarks, narratives, pricing information, and other details or information related to listed property. Section 11.1 All right, title, and interest in each copy of every Multiple Listing Service (MLS) Compilation created and/or copyrighted by the Cape Cod & Islands Multiple Listing Service, Inc. and in the copyrights therein, shall at all times remain vested in the Cape Cod & Islands Multiple Listing Service, Inc. Section 11.2 Each Participant (DR) shall be entitled to lease from the Cape Cod & Islands Multiple Listing Service, Inc. a number of copies of each Multiple Listing Service (MLS) Compilation sufficient to provide the Participant (DR) and each person affiliated as a licensee with such Participant (DR) with one copy of such Compilation. The Participant (DR) shall pay, for each such copy, the rental fee set by the Multiple Listing Service (MLS). Participants (DRs) shall acquire by such lease only the right to use the Multiple Listing Service (MLS) Compilation in accordance with these rules. Section 11.3 (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 17 of 27

18 The term MLS Compilation, as used herein, shall be construed to include any format in which property listing data is collected and disseminated to the Participants (DRs), including but not limited to, bound book, loose-leaf binder, computer data base, card file, or any other format whatsoever. Article XII USE OF COPYRIGHTED MLS COMPILATION Section 12 Distribution Participants (DRs) shall at all times maintain control over and responsibility for each copy of any MLS Compilation leased to them by the Association of REALTORS, and shall not distribute any such copies to persons other than Subscribers who are affiliated with such Participant (DR) as licensees, those individuals who are licensed or certified by an appropriate sate regulatory agency to engage in the appraisal of real property, and any other Subscribers as authorized pursuant to the governing documents of the Multiple Listing Service (MLS). Use of information developed by or published by an Association Multiple Listing Service (MLS) is strictly limited to the activities authorized under a Participant's (DR s) licensure(s) or certification and unauthorized uses are prohibited. Further, none of the foregoing is intended to convey "Participation", or "Membership" or any right of access to information developed or published by an Association Multiple Listing Service (MLS) where access to such information is prohibited by law. Section 12.1 Display Participants, (DRs) and those persons affiliated as licensees with such Participants (DRs), shall be permitted to display the MLS Compilation to prospective purchasers only in conjunction with their ordinary business activities of attempting to locate ready, willing, and able buyers for the properties described in said MLS Compilation. Section 12.2 Reproduction Participants (DRs) or their affiliated licensees shall not reproduce any MLS Compilation or any portion thereof except in the following limited circumstances. Participants (DRs) or their affiliated licensees may reproduce from the MLS Compilation, and distribute to prospective purchasers, a reasonable number of single copies of property listed data contained in the MLS Compilation which relate to any properties in which the prospective purchasers are, or may be, in the judgment of the Participants (DRs) or their affiliated licensees, interested. Nothing contained herein shall be construed to preclude any Participant (DR) from utilizing, displaying, distributing or reproducing property listing sheets or other compilations of data pertaining exclusively to properties currently listed for sale with the Participant (DR). Section 12.3 Limitations on Use of Multiple Listing Service (MLS) Information Use of information from the MLS Compilation of current listing information, from the Association's "Statistical Report" or from any 'sold' or 'comparable' report of the Association or Multiple Listing Service (MLS) for public mass-media advertising by Multiple Listing Service (MLS) Participant (DR) or in other public representations may not be prohibited. However, any print or non-print forms of advertising or other forms of public representations based in whole or in part on information supplied by the Association or its Multiple Listing Service (MLS) must clearly demonstrate the period of time over which such claims are based and must include the following Notice: Based on information from the Association of REALTORS (alternatively, from the Cape Cod & Islands Association of REALTORS MLS) for the period (date) through (date). Article XIII CHANGES IN RULES AND REGULATIONS (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 18 of 27

19 Section 13 Changes in Rules and Regulations. Amendments to the Rules and Regulations of the Multiple Listing Service (MLS) shall be by consideration and approval of two-thirds (2/3) of the Executive Committee of the Cape Cod & Islands Multiple Listing Service (MLS) present and voting at any regular meeting at which a majority is present and with the approval of the Cape Cod & Islands Multiple Listing Service (MLS) Board of Directors and the Cape Cod & Islands Association of REALTORS, Inc. Board of Directors. Article XIV ORIENTATION Section 14. Orientation Any applicant for MLS participation and any licensee (including licensed or certified appraisers) affiliated with an MLS Participant (DR) who has access to and use of MLS-generated information shall complete an orientation program of no more than eight (8) classroom hours devoted to the MLS rules and regulations and computer training related to MLS information entry and retrieval and the operation of the MLS within thirty (30) days after access has been provided. Participants (DRs) and subscribers may be required, at the discretion of the MLS, to complete additional training of not more than four (4) classroom hours in any twelve (12) month period when deemed necessary by the MLS to familiarize Participants (DRs) and subscribers with system changes or enhancements and/or changes to MLS rules or policies. Participants (DRs) and subscribers must be given the opportunity to complete any mandated additional training remotely. Article XV Internet Data Exchange (IDX) Section 15 IDX Defined IDX affords Multiple Listing Service (MLS) Participants (DRs) the ability to authorize limited electronic display of their listings by other participants. Section 15.1 Authorization Participants (DR s) consent for display of their listings by other Participants (DRs) pursuant to these rules and regulations is presumed unless a Participant (DR) affirmatively notifies the Multiple Listing Service (MLS) that the Participant (DR) refuses to permit display (either on a blanket or on a listing-bylisting basis). If a Participant (DR) refuses on a blanket basis to permit the display of that Participant s (DR s) listings, that Participant (DR) may not download, frame or display the aggregated Multiple Listing Service (MLS) data of other Participants (DRs). Even where Participants (DRs) have given blanket authority for other Participants (DRs) to display their listings on IDX sites, such consent may be withdrawn on a listing-by-listing basis where the seller has prohibited all Internet display. Section 15.2 Participation Participation in IDX is available to all Multiple Listing Service (MLS) Participants (DRs) who are REALTORS who are engaged in real estate brokerage and who consent to display of their listings by other Participants (DRs). Section Participants (DRs) must notify the Multiple Listing Service (MLS) of their intention to display IDX information and must give the Multiple Listing Service (MLS) direct access for purposes of monitoring/ensuring compliance with applicable rules and policies. Section Multiple Listing Service (MLS) Participants (DRs) may not use IDX-provided listings for any purpose other than display as provided for in these rules. This does not require Participants (DRs) to prevent indexing of IDX listings by recognized search engines. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 19 of 27

20 Section Listingss, including property addresses, can be included in IDX displays except where a seller has directed their listing broker to withhold their listing or the listing s property address from all display on the Internet (including, but not limited to, publicly-accessible websites or VOWs). Section Participants (DRs) may select the listings they choose to display on their IDX sites based only on objective criteria including, but not limited to, factors such as geography or location ( uptown, downtown, etc.), list price, type of property (e.g., condominiums, cooperatives, single-family detached, multi-family), cooperative compensation offered by listing brokers, type of listing (e.g., exclusive rightto-sell, exclusive agency, or open listing), or the level of service being provided by the listing firm. Selection of listings displayed on any IDX site must be independently made by each Participant (DR). Section Participants (DRs) must refresh all Multiple Listing Service (MLS) downloads and IDX displays automatically fed by those downloads at least once every three (3) days. Section Except as provided in the IDX policy and these rules, an IDX site or a participant or user operating an IDX site or displaying IDX information as otherwise permitted may not distribute, provide, or make any portion of the MLS database available to any person or entity. Section Any IDX display controlled by a participant must clearly identify the name of the brokerage firm under which they operate in a readily visible color and typeface. For purposes of the IDX policy and these rules, control means the ability to add, delete, modify and update information as required by the IDX policy and MLS rules. Section Any IDX display controlled by a participant or subscriber that: (a) allows third-parties to write comments or reviews about particular listings or displays a hyperlink to such comments or reviews in immediate conjunction with particular listings, or displays an automated estimate of the market value of the listing (or hyperlink to such estimate) in immediate conjunction with the listing, either or both of those features shall be disabled or discontinued for the seller s listing at the request of the seller. The listing broker or agent shall communicate to the MLS that the seller has elected to have one or both of these features disabled or discontinued on all displays controlled by Participant. Except for the foregoing and subject to Section , a Participant s (DR s) IDX display may communicate the Participant s (DR s) professional judgment concerning any listing. Nothing shall prevent an IDX display from notifying its customers that a particular feature has been disabled at the request of the seller. Section Participants shall maintain a means (e.g. address, telephone number) to receive comments about the accuracy of any data or information that is added by or on behalf of that Participant beyond that supplied by the MLS and that relates to a specific property. Participants shall correct or remove any false data or information relating to a specific property upon receipt of a communication from the listing broker or listing agent for that property explaining why the data or information is false. However, the Participants shall not be obligated to remove or correct any data or information that simply reflects good faith opinion, advice or professional judgment. (Revised 10/14) Cape Cod & Islands Multiple Listing Service, Inc. Rules & Regulations -Page 20 of 27

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