PPMLS RULES REVISED TO COMPLY WITH CP-36

Pursuant to the DORA Position Statement CP-36 the RSC Board of Directors has revised the PPMLS Rules and Regulations to eliminate the “Entry Only” Service Level choice. Please see the changes noted below.

Section 1.2.1. LIMITED SERVICE LISTINGS.

The service level of each listing filed with the PPMLS shall be indicated on the Listing Input Worksheet or Change Notice form.

A full service listing agreement will be identified with the code/symbol “FS” in the compilations.

Limited service listings are those listing agreements under which the listing broker provides the minimum duties required to be performed pursuant to Colorado statutory law but does not provide one or more of the additional services associated with full service listings such as arranging property showings, holding open houses, providing a lockbox and advertising the listing. following services within the individual listing agreement that was submitted to PPMLS:

1. arrange appointments for cooperating brokers to show listed property to potential purchasers but instead gives cooperating brokers authority to make such appointments directly with the seller(s);
2. accept and present to the seller(s) offers to purchase procured by cooperating brokers but instead gives cooperating brokers authority to present offers to purchase directly to the seller(s);
3. advise the seller(s) as to the merits of individual offers to purchase;
4. assist the seller(s) in developing, communicating, or presenting counter-offers; or
5. participate on the seller(s) behalf in negotiations leading to the sale of the listing property.

Each limited service listings will be identified with the code/symbol "LS" in PPMLS compilations so potential cooperating brokers will be aware of the extent of the services the listing broker will provide to the seller(s), and any potential for cooperating brokers being asked to provide some or all of these services to listing brokers' clients, prior to initiating efforts to show or sell the property.

Section 1.2.2. ENTRY-ONLY LISTINGS

The PPMLS will not accept “entry-only” listings. Entry-only listings are those listings in which If the listing broker does not provide the minimum duties required of a broker pursuant to Colorado statutory law. For example, a listing in which the broker’s only duty is to enter the listing into the PPMLS will not be accepted. any of the above-mentioned services within the individual listing agreement that was submitted to the PPMLS, then that listing will be identified with the code/symbol “EO” for “Entry Only”.

Section 2. SHOWINGS AND NEGOTIATIONS.

Access to the property, appointments for showings and negotiations with the seller or lessor for the purchase, lease, or exchange of listed property filed with the PPMLS shall be conducted through the listing broker except under the following circumstances:

a. The listing broker gives the cooperating broker (either buyer agent or transaction broker) specific authority to show and/or negotiate directly with the seller by noting it in the "Show/Agent Remarks" section of the Listing Input Worksheet with a statement such as, “Please contact seller for showing; see Appointment field.”. The Property Description Remarks and any other field that displays on the “Customer” reports shall not contain seller name, licensee name, office information, telephone numbers, email addresses, hyperlinks, or any identifying information or means of contact. The Appointment field must be used to indicate the name and/or phone number of the person responsible for showing, whether it is the listing broker, seller, or builder, etc. (Note: listing brokers offering only limited or Entry-Only services should remember, however, that they may have certain legal responsibilities which cannot be relinquished or limited by a listing contract or other agreement with the seller.), or

b. After reasonable efforts, the cooperating broker (buyer agent or transaction broker) cannot contact the listing broker or his representative. The listing broker, at his option, may preclude such direct negotiations by, buyer broker, or transaction broker.

Section 2.1. PRESENTATION OF OFFERS.

The listing broker must make arrangements to present the offer as soon as possible, or give the cooperating broker (buyer agent or transaction broker) a satisfactory reason for not doing so or permission to present the offer directly to the seller.

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