Dolgetta Law

Exclusive Listing Agreements – The Essential Elements

The Westchester-Putnam Multiple Listing Service, Inc. has, without attempting to do so, become a regional MLS. Over the past decade, brokerage firms from outside of Westchester and Putnam Counties have chosen to become Participants of the MLS. When the National Association of REALTORS® created Board of Choice, it also indicated that a Multiple Listing Service’s primary market area can be determined by the MLS based upon natural market factors. As a result, WPMLS now requires that all Participants submit to WPMLS listings taken in Bronx, Westchester, Putnam and Dutchess Counties.

As listings are now submitted electronically to WPMLS it has become apparent that there are a wide variety of listing agreements in use. Some do not conform to the requirements of New York Law. The essential elements, therefore, of an Exclusive Right to Sell or an Exclusive Agency Agreement should be reviewed by every firm.

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