ARMLS REQUEST TO EMPLOYING BROKERS

Arizona Regional Multiple Listing Service, Inc. in line with their current Rules and Regulations has ask the Employing Brokers (The Companies) to intensify their control over MLS listings.

In compliance with MLS rules and regulations all listings are to be placed on the MLS within 72 hours of receiving a signed listing contract from a seller, unless seller has in writing, instructed the employing broker not to place the listing on the MLS. This then become what is called a "Office Listing". This is normally used when the house being put under a listing contract is already sold. The listing contract, which is also called a employment contract is used in this instance to insure payment of commission fees being charged.

In compliance with Arizona Regional Multiple Listing Service, Inc.'s Rules and Regulations, no listing is to be placed on the MLS until a signed listing contract is in the office of the employing broker and the agent has acknowledgement of the same.

ARMLS has requested from the employing brokers that they monitor the master property listing roster, furnished daily to each company that are members of the Arizona Regional Multiple Listing Service, Inc. If a property appears on this roster and the employing broker does not have a listing contract, signed by the seller, in the company's possession, the employing broker is instructed to immediately cancel the listing. Possession is consider to be a logged file, located at the Employing Broker's licensed office(s) as authorized by the Arizona Department of Real Estate.

It has come to ARMLS's attention that some Company have become lack in requiring their agents to comply with ARMLS's Rules and Regulations and the Arizona Revised Statutes concerning the handling of required documentation. ARMLS at any time can request a copy of the listing agreement from the employing broker. If the employing broker can not readily furnish and fax a copy to ARMLS then the employing broker (The Company) will be fined. All fines are due within 10 days of levy notice. If the company continues to ignore ARMLS's policies they and all their agents will be barred from their MLS membership.

These are not new rules and regulation. They have been enforce for years. They are reviewed, revised, updated or changed annually as need be, to fit current conditions and industry upgrades.

Clients First Realty, LLC paperwork policy addressed in the company's Policy and Procedure Manual is clear, fair and equitable in the handling of this issue. However, the company's position is to support and comply with ARMLS and any of their administrative requests. All rules, regulations, codes, policies, statutes and laws are put in place to protect our clients.

We as licensed agents, are bound by local, State and Federal controls of one form or another. Primarily our fiduciary obligation to each of our clients, which is a felony if we are in breach.

Remember, under your real estate agency disclosure and election the agent and the company has the fiduciary duties of loyalty, obedience, disclosure, confidentiality and accounting in dealings with either the buyer or seller being represented. Regardless of who the Employing Broker (The Company) or the Agent represents in the transaction, the Broker or Agent shall exercise reasonable skill and care in the performance of their duties and shall be truthful and honest with all clients or customers.

The lawful handling of the clients paperwork falls under the skill and care area of our fiduciary duties. We do have a obligation to fulfill our duties and keep our clients represented in a professional manner. This means we will follow the laws, rules , regulations, codes, statutes and policies dictated by our profession and the agencies that we deal with in behalf of our clients.

If you are not clear about your responsibility or about the company's position concerning this matter, please feel free to call or come by the office.

WMS / DB - CLIENTS FIRST REALTY, LLC