{"id":6568,"date":"2013-08-08T12:00:56","date_gmt":"2013-08-08T19:00:56","guid":{"rendered":"http:\/\/rmlscentral.com\/?p=6568"},"modified":"2013-08-07T15:51:45","modified_gmt":"2013-08-07T22:51:45","slug":"do-you-know-what-these-listing-terms-mean","status":"publish","type":"post","link":"https:\/\/rmlscentral.com\/v1\/2013\/08\/08\/do-you-know-what-these-listing-terms-mean\/","title":{"rendered":"Do You Know What These Listing Terms Mean?"},"content":{"rendered":"
\"image_pdf\"<\/a>\"image_print\"<\/a><\/div>

\"\"<\/a>This is a blog post by RMLS\u2122 Data Accuracy Liaison Vallerie Bush (at left). Vallerie is a 15-year veteran of RMLS\u2122, including over a decade working with RMLS\u2122 Rules and Data Accuracy.
\n<\/em><\/p>\n

Do you know the difference between ER and EA?<\/p>\n

There are a number of terms used in RMLSweb<\/em> listings that are rather technical and may seem confusing. The following is a list of some commonly used terminology and their meanings which will help you when entering or viewing a listing:<\/strong><\/p>\n

\"List<\/a>Exclusive Right to Sell (ER)<\/span><\/strong>:\u00a0 This is one of the options in the \u201cList Type\u201d field. The seller gives the Listing Broker the exclusive right to sell their property for a specified period of time and authorizes the Listing Broker to cooperate with and compensate other RMLS\u2122 brokers, with no exceptions.<\/p>\n

Exclusive Agency (EA)<\/span><\/strong>:\u00a0 The exclusive agency listing also authorizes the Listing Broker, as exclusive agent, to offer cooperation and compensation on blanket unilateral bases to other RMLS\u2122 brokers, but the seller reserves the right to sell the property without paying a commission, if the buyer is not obtained by the listing agent or their advertising and marketing efforts. You must select EA in the \u201cList Type\u201d field if an Exclusive Agency agreement exists.<\/p>\n

\"Total<\/a>Dual or Variable Rate Commission Agreement<\/span><\/strong>:\u00a0 This is an \u00a0arrangement in which the total commission paid by the seller is variable and dependent on who brings in the buyer.\u00a0 For example, the commission offered by the seller may be different should the property be sold by the listing broker, than if the listing is sold by a cooperating broker.\u00a0 You must enter a YES in the \u201cTotal Comm. Differs\u201d field of your listing if an agreement exists.<\/p>\n

\"Owner\"<\/a>Owner<\/span><\/strong>:\u00a0 The term \u201cOwner\u201d can represent: 1. the person or persons who have legal ownership of the property; 2. their authorized agent;\u00a0or 3.\u00a0someone with the legal right to sell the property. However, the RMLS\u2122 definition of the term owner does not include a person or persons who merely has the right to purchase the property, but does not yet own it. The owner\u2019s name is required to be entered in the listing under \u201cOwner\u201d field unless an Owner Name Omission Form<\/a> or similar document is submitted to RMLS\u2122.<\/p>\n

If you have any questions, contact us at rules@rmls.com<\/a> or at (503) 236-7657.<\/p>\n","protected":false},"excerpt":{"rendered":"

RMLS\u2122 Data Accuracy Liaison Vallerie Bush has compiled a short list of some of our most potentially confusing terms and their meanings, which may help when you enter or view a listing.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[26,30],"tags":[298],"series":[],"episode_featured_image":false,"episode_player_image":"https:\/\/rmlscentral.com\/v1\/wp-content\/plugins\/seriously-simple-podcasting\/assets\/images\/no-album-art.png","download_link":false,"player_link":false,"audio_player":false,"episode_data":{"playerMode":"dark","subscribeUrls":{"apple_podcasts":{"key":"apple_podcasts","url":"","label":"Apple Podcasts","icon":"apple-podcasts.png"},"google_play":{"key":"google_play","url":"https:\/\/play.google.com\/music\/m\/Iinki5xppiud4zt7r4evlggzzcy?t=Real_Talk_with_RMLS","label":"Google Play","icon":"google-play.png"},"google_podcasts":{"key":"google_podcasts","url":"","label":"Google Podcasts","icon":"google-podcasts.png"}},"rssFeedUrl":"https:\/\/rmlscentral.com\/v1\/feed\/podcast","embedCode":"

Do You Know What These Listing Terms Mean?<\/a><\/blockquote>\n