Multiple Listing Service (MLS)
The MLS agreement outlines the professional relationship between the seller, the seller's realtor, and the seller's realtor's brokerage, as well as the terms for listing the property. The contract covers various sections, including the basic terms of the listing, property description, list price, services provided by the realtor's brokerage, remuneration, designated agency, seller's responsibilities, conflicts of interest, and handling of personal information. The contract is legally binding and provides for limited termination or variation in specific situations. The purpose of the contract is to ensure all parties have a clear agreement with defined rights and responsibilities, promoting better protection for everyone involved.