WFRMLS Policies Related to Limited Service

Utah Law and Exclusive Brokerage Agreements. Utah Code Ann. Section 61.2.27, as amended, or any substitute or replacement section, and as amended (the “Exclusive Brokerage Agreement Statute”), provides for the performance of certain obligations by principal brokers. The WFRMLS Policies and Procedures are written to guide our subscribers with the legal requirements. Specifically the provisions of WFRMLS Policies Section 29 and generally the provisions of theWFRMLS Policies and Procedures are subject to and governed by the provisions of the State of Utah Exclusive Broker Agreement Statute, and all other applicable law.

The following are WFRMLS Policy and Procedure excerpts that specifically relate to the MLS requirements for listing brokers:

Showings and Negotiation:. All appointments for showings and all negotiations with the Seller for the purchase of property which is the subject of a Listing shall be conducted through the Listing Broker, except under the following circumstances, but subject to the provisions of the Exclusive Brokerage Agreement Statute:

• The Listing Broker gives Cooperating Brokers specific authority to show and/or negotiate directly in the “Broker/Agent Remarks” portion of the Listing;
• After reasonable efforts, the Cooperating Broker cannot contact the Listing Broker or his/her representative. However, the Listing Broker, at his/her option may preclude such direct negotiations by Cooperating Brokers. The Cooperating Broker must disclose his/her agency status to the Listing Broker at first contact with the Listing Broker, whether in person, by telephone, or in writing.

Presentation of Offers:The Listing Broker, upon receipt of a written offer from a Cooperating Broker, shall submit the offer to the Seller without delay, or give the Cooperating Broker a satisfactory reason for not doing so. The Listing Broker shall permit a representative of the Cooperating Broker to accompany the representative of the Listing Broker in the presentation to the Seller, or at the option of the Listing Broker, shall permit the Cooperating Broker to present the offer directly to the Seller. In the event the offer is submitted by mail, the Listing Broker shall, if requested by the Cooperating Broker, immediately provide the Cooperating Broker with a copy of the transmittal letter. The objective of delivery of the letter is to insure the submission of the offer in a fair and open manner. The Listing Broker may not delay the presentation of an offer made through a Cooperating Broker to gain a preference for any other offer.

Submission of Written Offers:The Listing Broker shall submit to the Seller all written offers until closing, unless precluded by law, government rule, regulation, or agreed otherwise in writing between the Seller and the Listing Broker. Unless an offer received subsequent to another 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.

Right of Cooperating Broker in Presentation of Offer:The Cooperating Broker, or his/her representative, has the right to participate in the presentation to the Seller of any offer he/she secures. He/She does not have the right to be present at any discussion or evaluation of that offer by the Seller and the Listing Broker. However, if the Seller 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 written instructions. None of the foregoing diminishes the Listing Broker’s right to control the establishment of appointments for such presentations.

Right of Listing Broker in Presentation of Counter-Offer:The Listing Broker, or his/her representative, has the right to participate in the presentation of any counter-offer made by the Seller. He/She does not have the right to be present at any discussion or evaluation of a counter-offer by the purchaser or lessee, except where 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.

Reporting Sales to WFR.The Listing Broker shall Submit all information requested by WFR concerning the sale of any real property that is the subject of a Listing, including the consideration received by the Seller, within ten (10) Business Days of the closing of the sale. Such information shall be Submitted for the sale of all real property that is the subject of a Submitted Listing, or in the case of a Listing for a new home or vacant lot in a Subdivision, such information shall be Submitted for the sale of such property regardless of whether the Listing was Submitted.

In addition to the above minimum services requirement the licensee must comply with the following:

The Utah Administrative Code, R162-4 Section 4.1.4.2, requires he principal broker or his authorized representative to attend all closings, and also states that the principal broker is responsible for the content and accuracy of all closing statements regardless of who closes the transaction.