NEW FORMS
Form #902 - Addendum to Listing Agreement - Internet Advertising
In response to the terms of the settlement between the Department of Justice (DOJ) and the National Association of REALTORS® (NAR), Sellers must now consent to
- allowing their property to be on the internet;
- allowing their full property address to be on the internet;
- allowing information regarding a valuation of the property to be available through third party sources on the internet or through a hyperlink to a third party;
- allowing unedited comments and remarks (blogging) to appear through third party sources on the internet or through a hyperlink to a third party.
If a Seller does NOT consent to any one of these above items, the Seller will indicate such and the listing broker, i.e., agent, is required to notify MRIS of the Seller’s position opting out of one or more of the above items. To notify MRIS, you should either complete the “Addendum to the Listing Contract” or complete the “Seller Opt-Out Form” available on MRIS’ website (once it includes all 4 questions and not just 2 of them as it does right now) and submit a copy of the signed form to MRIS ONLY IF THE SELLER OPTS OUT OF ANY OF THE 4 ITEMS. If the Seller agrees to all 4 items, nothing is sent to MRIS and the form is kept in your files. This form will be unnecessary once MRIS has the technical capability to have the listing agent indicate whether the property should be deleted from any of the above 4 areas, but for now, you need to fax the signed information over to MRIS, again, ONLY if the Seller opts out.
REVISIONS TO EXISTING FORMS
Form #1301 - Regional Sales Contract
Paragraph 11 of the Regional Sales Contract has been changed as follows: the FHA/VA Addendum has been deleted. In its place are checkboxes to indicate if the contract is an FHA or VA contract and thus the appropriate addendum is attached. These two addenda cover seller subsidy as well as appraisal, so no additional paragraphs are necessary in the contract or other addenda regarding seller subsidy and appraisal.
Form #1330 - FHA Addendum to Contract
Form #1338 - VA Addendum to Contract