Multi-Listing Service By-Laws

Transcription

1 Multi-Listing Service By-Laws DEFINITIONS Business day Committee Conjunctional agreement Council Country Regions Exclusive Agency Agreement means any day other than a Saturday, Sunday or State public holiday in Western Australia. means any committee established by the Council whose role includes the managing of the MLS. means any agreement between a listing agent and a non-listing agent in accordance with the terms of the REIWA Multi-Listing Service by-laws to share the listing agent s selling fee with another licensed real estate agent in return for and on condition that the non-listing agent provides agreed real estate services. Such a conjunctional agent becomes a sub-agent of the listing agent. Means the Institute s management committee under section 20 of the Associations Incorporation Act, being the Council constituted pursuant to Article 52 of REIWA s Articles. means the country regions of the MLS referred to in by-law 5 below. means a listing agreement whereby the agent is appointed to sell a property on an exclusive basis and the seller agrees to pay a selling fee to the agent if: (a) during the term of the agency listing the property is sold or transferred; (b) if at any time an entity introduced during the term of the agency listing to the principal or to the property contracts or procures another to contract to buy or to be the recipient of a transfer of the property or business or otherwise becomes a legal or beneficial owner of the property or business; (c) the property is sold, transferred or leased in any of the circumstances referred to in sub-paragraphs (a) or (b) above and the sale, transfer or lease is not completed owing to fault of the seller. Exclusive Plus Agency Agreement has the same meaning as Exclusive Agency Agreement save and except that the agent and the seller agree that the property : (a) will be marketed using the REIWA Multi-Listing Service and (b) will be marketed using the REIWA internet site. Homebuyer Institute means the Real Estate Institute of Western Australia (Inc).

2 Listing agent Listing agreement means a member of the Institute who is entitled to use the MLS and with whom the seller has provided a valid appointment to act as the seller s agent pursuant to section 60 of the Real Estate and Business Agents Act means a selling agency agreement: (a) whereby a seller provides a valid appointment for an agent to act on the seller s behalf pursuant to section 60 of the Real Estate and Business Agents Act 1978; and (b) which is an Exclusive Agency Agreement, an Exclusive Plus Agency Agreement or a Multi-List Exclusive Agency Agreement. MLS agents MLS means a member of the Institute who is entitled to use the Multi-Listing Service of Western Australia. means the Institute s Multi-Listing Service constituted by the Council. Multi-Listing Exclusive Agency Agreement means the same as an Exclusive Plus Agency Agreement save and except that the agent and the seller agrees that the agent will offer conjunctional agreements to all MLS agents and the seller authorises other real estate agents who are entitled to use the REIWA Multi-Listing Service to display a photograph of the property in their office window. Non-listing agent REIWA internet site means a licensed real estate agent, other than the listing agent. means an internet site with the internet address of produced by REIWA and by which the sale of properties is marketed. Security lock box Total Property Market Means an electronic database. Valid inspection of the property means an inspection whereby the agent concerned accompanies the purchaser onto the land inside the boundary lines of the lot making up the property (including, in the case of a strata titled property, any land which is common property) but shall not require any entry into the dwellings or improvements on the property. PRIORITY OF REIWA ARTICLES 1. The by-laws of the MLS shall be subject to the terms of the REIWA Articles and to the extent that there is any inconsistency between the REIWA Articles and the MLS by-laws, the Articles shall prevail. Further, the Members Code of Practice and all other rules and regulations of REIWA shall apply to the MLS, save and except to the extent that the MLS by-laws conflict with the terms of the Members Code of Practice, rules and/or regulations, in which case the MLS by-laws shall prevail to the extent of any inconsistency.

3 CONJUNCTIONAL AGREEMENTS Properties the subject of Exclusive Plus Agency Agreements and Multi-List Exclusive Agency Agreements entered into by MLS agents are able to be listed with the MLS. Properties the subject of Exclusive Agency Agreements are not able to be listed with the MLS. 2.2 The listing of a property the subject of a Multi-List Exclusive Agency Agreement with the MLS amounts to the making of a unilateral offer by the listing agent to all other MLS agents to enter into a conjunctional agreement with respect to that property. 2.3 The listing of a property the subject of an Exclusive Plus Agency Agreement does not amount to the making of a unilateral offer by the listing agent to all other MLS agents to enter into a conjunctional agreement with respect to that property. Nevertheless, the listing agent is entitled to agree to enter into conjunctional agreements with MLS agents regarding properties the subject of Exclusive Plus Agency Agreements should they desire. Further, MLS agents are entitled to enter into conjunctional agreements with licensed real estate agents who are not MLS agents (whether or not those persons are members of the Institute) regarding properties the subject of Exclusive Plus Agency Agreements and Multi-List Exclusive Agency Agreements should the MLS agent desire. 2.4 Unless MLS agents agree to the contrary, a non-listing agent who is a MLS agent shall be deemed to have accepted a listing agent s unilateral offer of a conjunctional agreement with respect to a property the subject of a Multi-List Exclusive Agency Agreement and shall be entitled to a conjunctional fee upon the non-listing agent who is a MLS agent performing the following tasks in connection with the purchaser who the non-listing agent who is a MLS agent claims gives rise to an entitlement to a fee: the non listing agent who is a MLS agent shall introduce the purchaser to the property; the non listing agent who is a MLS agent shall carry out at least one valid inspection of the property in the presence of the prospective purchaser, or a representative of that purchaser, prior to the purchaser entering into a relevant contract to purchase the property the non-listing agent who is a MLS agent shall speak to the purchaser, or a representative of that purchaser, in person or by telephone or shall make contact in writing no less than once in the 14 day period prior to the purchaser entering into a relevant contract to purchase the property; 2.5 Should a listing agent enter into a conjunctional agreement with a MLS agent with respect to a property the subject of an Exclusive Plus Agency Agreement or should a listing agent enter into a conjunctional agreement with a licensed agent who is not entitled to use the MLS but is nevertheless a member of REIWA, unless agreed to the contrary, the non-listing agent shall be entitled to a conjunctional fee upon the non-listing agent performing the following tasks in connection with the purchaser who the non-listing agent claims give rise to an entitlement to a fee:

4 2.5.1 the non listing agent shall introduce the purchaser to the property; the non listing agent shall provide the listing agent with the name of the purchaser or lessee concerned; the non listing agent shall carry out at least one valid inspection of the property in the presence of the prospective purchaser, or a representative of that purchaser, prior to the purchaser entering into a relevant contract to purchase the property the non-listing agent shall speak to the purchaser, or a representative of that purchaser, in person or by telephone or shall make contact in writing no less than once in the 14 day period prior to the purchaser entering into a relevant contract to purchase the property; 2.6 Listing agents and non-listing agents have complete freedom to negotiate the terms of any conjunctional agreement, including, but not limited to, the manner in which they shall divide any fee with respect to the sale of a property. LISTINGS WITH THE MLS AND THE PROVISION OF INFORMATION 3. The seller shall be given complete and accurate information by the listing agent of what the MLS entails. The listing agent must ensure that the seller has read and fully understood the Listing Agreement and the fact that it is an enforceable agreement, before the seller signs it. The seller s liability in respect of all fees in the event of a sale taking place should be fully explained to the seller by the listing agent. The listing agent shall maintain contact with the seller during the period of the Listing Agreement. 4. A listing agent shall make it clear to a seller that other agents may share in the selling fee with respect to the sale of a property should a conjunctional agreement be entered into between the listing agent and a non-listing agent The MLS will operate with respect to all properties referred to in by law 9 below in the Perth metropolitan region and in such Western Australian country regions as determined from time to time by the Committee and/or Council. All MLS agents shall be entitled to use the MLS in the Perth metropolitan region and all country regions. 5.2 The Committee and/or the Council shall have the power to designate country regions within Western Australia in which properties will be able to be listed for the MLS. The Committee and/or Council may set up offices in country regions to administer the MLS in those regions. However, those offices will only have the power to administer the MLS in those regions as directed by the Committee and those offices shall not have the power to make their own by laws, rules or regulations or to set or levy any fees Listings with the MLS will only be accepted if the Listing Agreement relating to the property is in the form prescribed by the Committee and/or Council from time to time. 6.2 Listing agents are to ensure that all Listing Agreements are completed in full and all particulars referred to in the agreement are inserted prior to execution of the agreement by the seller.

5 The form of Listing Agreements to be used with the MLS shall be in the form published by the Institute from time to time. Those forms are for the use of MLS agents only and shall not be passed by MLS agents to non MLS agents or to members of the public save for the purpose of executing Listing Agreements. MLS agents and their staff are the only persons authorised to use the forms produced by the Institute for the MLS. 7.2 Any information provided by a seller that is contained in an Listing Agreement or on Total Property Market is information that is confidential and MLS agents are not to show or provide that information to any person not authorised by the seller to receive it. PROPERTIES LISTED 8 The MLS shall accept listings of the sale of all real property and shall not accept the listing of businesses. All real properties in Western Australia, subject to the terms of these by-laws, are eligible to be listed with the MLS and country branches of REIWA are not permitted to have independent multi-list systems. AMENDMENTS TO LISTINGS 9 If a property is sold or withdrawn from the listing agent, if the listing of the property with the listing agent is reinstated or if there is a material alteration in the details provided to the MLS of the listing during the period of the Listing Agreement, the listing agent shall report such change in status to the MLS within two working days of the agent learning of that matter. Further, the listing agent shall inform the MLS within two business days if a conditional sale is not completed and the subject property becomes available for sale again pursuant to the original listing with the listing agent.