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Exclusive Multiple Listing by H.E. Nightingale Chairman Multiple Listing
Exclusive Multiple Listing by H.E. Nightingale Chairman Multiple Listing
ExclusiveMultiple Listing
B? H. E. NIcETtNcaLE
A NECESSITY
TO I'OSTER MO\IEMENT AEALTY BOA,R]D
Itr order that tlle idea of multiple listing be promulgated with the
bestresults, it is [ecessary to form a realty board in the community.
If a board aheady exists, the advantages of the system should be
broughtbefore that board for considerationand adoption. If the
boardacts favorably, it should change its constitution and byla\ts 60
as to ta.ke in every member. It is not advisable io attempt to make
it compulsory,but it is imloftant that every member should adopt
s,.stem.
NOT ADI'ISABLE TO HAVE SDPIIATE ORCANIZATION WITHIN BOAND
The formation of a gaoupwithin the board is not advisable, except
:e it is absolutely impossible to get concert€daction, or unanimoua
)ptionof the system. But in that eventualityevery meansshould
employedto convert those who are opposed. A properly organized
rd, ricognizing this principle, should be able to overcome all
ections by means of a full exposition of the advantages of the
iple listing proposition. while the so-called"Group Plan" has
with somesuccess,yet it has been the means of creating jealousy
undermining co-operation among the members.
ORGANIZATION
Where the service is adopted by boards in large cities covering
iderableterdtory it is necessaryto divide the territory into over-
divisions. This requiles great care and should be undertaken
bt thosefitied by judcment and pxperience,
EXPENSE
No board, large or small, need hesitate to adopt the multiple sy3-
for fear of additional expense. In truth, the system is not only
oriing, but a sourceot income. Loyally and faithlully sup-
it cannot fail to make money for both member and board.
AIMINISTRATION AND REGULATION
I'Llere must be rigicl administrative regulations, which must be
enforced. Laxity inthis respectmeansfailure.
BY.LAWSJ CONSTITUTION'ETC,
It is highly advisable to berefit by the experience of others in
dDgthe necessaryconstitution and by-laws, and it is advised that
boardadoptingthe systemshouldpattem after someboardwhich
t€sted out t}Ie systern and by experieice fouDd it successful;
of course, by such local conditions as may be necesssry.
main plan of operation, however, should control.
D$MIBUTION TO MEMBBS
DISPOSITION OF LISTINC
nxLn**":lg *"
:t*1";
*1,;fl H:':i
t.llt'T:i'"-:1lffi"*J
incorrect listings,
GENE.RA], DIRECTIONS
1 . Havp the lislings {or a cerlain definile pPriod
2. io not koeperpired listing in vour livp li;tirs fle lf good relist
them if possible.
3. ili'"oit'akJnet listins" for vour board They onlv bdng trouble'
4. Demand five per cent-no more, no less, and live up to rtyou
5. bo not list airv property for your board unless certain can
sell it withjn the tisting Period.
6. iiit e prope.tr is pri.ed righl lilt il fol vour.board li pavs .
An inflatedlisting injures your board and lhe brokPr who l)srsrr'
7. -Do
t"i youi board as a means to sell his propert-v
"oi " "i.
""tl"i wfrich also would have a tendelcy to discrediJ
at-inflatea plices,
your appraisal judgment
judgmcnt
8. bo noi i'^u" rn ,ppt"isal comnitlee. ll questionsthe
oI vour member, and is surp to cause Lrouble.
9. wh;n a listing ha. pxpired, do nol plece a handicapupon your
membertiar lh. oulsidebrok"r is frPe ftom lrr othpr words'
""11
remember that anyone can sell or relist ihat property whether a
-emte. o. not. Iiowever, ry office other than the original list_
ine ofiice Ihp propertv lhould pav'he boa)d its lee..be-
""lting
cause it was throush thp board thai fhe lisling was obtalned
10. A fee of $1.00 shoutd be charged the Iisling office for each listing
s€nt to the board. This keeps out undesirable listings.
Ihe Realt! BLueBook ol Cd,tfornin 85
Your privaiq listings are your own. Do not turn them in to your
board,as the boardhas no controlov€r suchlistings. Eventually
your board listings will eliminate tlem.
It is a mistake to put your board on a complete exclusive plalr
at tle beginning. Ttat will come in time, but only after the
Multiple Listing Service has.demonstratealthat the private list-
ing is little bette! than no listing at all.
Proper8 is never sold until the selling offrce has taken a deposit
(preferably on a C. R. E. A. deposit blank) ard same has been
signedby the seller and buyer. Observance of this rule avoids
much trouble.
Board listings cannot be canceled during the period for which
tlley are listed, except vrith the consent of the boaralof directols.
rEES
I'he fees charged on sales that have proven most satisfactory
$2.50vrherethe cornmissionis $100.00or less.
$10.00where the commissioa is between $100 and $360.
$10.00plus 3 per cent on balancewhere the commissionis over
$350.00.
$2.50where the listing oflice sells its o$n listing.
DIYISION OF COMMISSIONS
Commissions between brokers are divided in the following
After the board fee is paid the balance of the corl1missioflBhould
divid€dinto tlree parts, one palt to the listirg office and two parts
Leselling offce.
Whercthe listing office is ihe selling office, the whole comeis,sion,
the boardfee, is retained.
DIVISIONS SITOULDBE MADE IN ESCROW
It is advisable that this division be made in escrow. and that the
office and the board be furnished with $crow cards. It is not
that the listing broker be present in escrow.
PBICES NOT CHANGED DURINC I,ISTINC PERIOD
rling the period for x'hich the property is listed, the prices anil
cannotbe changed,exceptdownward. The listing cannot be
itr any way that will render selling the propefty more difficult
as originally listed.
AD}IEBTISING LISTINCS
member may advertise any board listing. A large percent
Balesfu the best argument one can make with the owner of
for listing pioperty exclusivelywith your board.
DIIAI,ING \{ITII SALESMDN
board has tro authodty as to the manner in which the board
dealswith his salesm€n. It is suggested,hobever, that when
86 TheRea,ItaBtweBcak qrlil:!!Y-
"f
DroDerrv is listedby thesalesmen lor theboard.andanothermember
5"ii5li,'ui"t tt;rtit"en fiItv per cent- is re-
of whatevercommission
'ifti" pf"""Jttim on ihi samebasisas tle broker'and should
make oI him an eamest supporl,er oI lhc sennce'
"!i"""a.
BENEFITSOF THE SER'!'ICE
th-e
l. It creales a poinl of conlact beh€en the members and
and a feeling of trust and fripnd-
loeicai result is closer co-operalion
' of inestimable\alue betweenbrokcrs'
ship,
2- The brokpr is assrrreil tlat his labor is not wasted and that
.h*i,d he-h;:'; ;;t;"p"ci rol itre prope*v tisted. and receive a deposil
irt"."o". te a?'t;"e. at the price and terms !iste'l'
"""' ""n ilt" trrot<eir o get exclusive listingslar in excess oI'
i.'' if*iti*
" couldsecureunder i,heold syslem'
""1: he
whaL
i;;J;;i;;1r'" puuii" ro the rights of l'Ip..broker and
assistsin maintainingihp fi\P
*-'!] ""
per cpnt commiaslons on all sales
it *itiJ hi*-good lisiingsovcr a much wider lerrilorv ihan
''" could Dossiblvcover bv himself.
he
;-'-li;;;;"; i;o ir more salesmen negotjalinswirh.a seller
for a pmperty for fhe same buyer' And thcreby DooslIng
unconsclously
the pdce to the buyer-
BENEFITS DB]YED BY TIIE SELI'EB
The benefitsto the owncr and selleroI prcpedy are
1. Il hp is really desirousof selling his ptoperly he. may oy
listing it through one memberwith the board' haveure ser!'ces or arr
members.
"'t"
i.'"ilavine tt'e serMcesof the largest selling organizalionin his
Io lt'
'3.if his propleflyis a goodbuJ he-isalmosi'sure sellt)?e oi men
cily,
Hd ha; th; advanLage of dPalingvrith the highpst
in the real esiatc profession.backedby an organizatrondptetmlneo
to *;. ' his interest.
* nrotect
H; il;;; lfu exactly what commission he is paJ'1ngfot the
sale of his propelty.
BENEFITS SECURiEDBY'THE BIJYER
1. IIe feels confident that he rtill receive a square deal becaus€he
k'" Drotected
*;.'"ii; bv lhe pihicso[ tle Realty Board.
frow; th;i wil,t our organizationand the mulliple listins
*e uri, tffJ io ,largel terito-iT and obtain better buvs than the
indivialual "o"""
broker can.
"'--b.
li"-k";;" that the commissioncharged cannot exceed five
oer cent. 'H"
"' 1: kno*" thai,wa do not list property for the serviceunless
it is wori.l1the pri.p asked.and that shouldthere be any 'hange ln
iriil ii*""Cueln I't;sfavor. This senseof securily is caus-ingrnanv
iuvers to seet out multiple listing scrvicemembersin preferenceto
othera.
IN ITS INFANCY
The multiDle lisfing serviceis in ils infancy The service'how-
6in y ost;blished.and t}le -pcrfection of uur presenl
""".,-i* "o*
iratus and the union of our torcesis the duty of today.
Th,enedfu Bl,ueBodt oI C'ttliforn&l 87
'rtis Coorrac' and Asfeemerl Ll'is day @ade abd pntered iD(o bv .od be
TII:
That, fo. a valuable consideration, the unileNigned Owner anil lndersisaed
TSE OWNER AGREEA: (1) To, and by thiB asreenenr does sive ro
Resltor tor a le.iod oI six months rrdm the date hereol the sole and ex-
: risnt to selr the foliowits ddcrtbeil rcal esttte situateil in
.-...............,,..,Coun1x,State o!., .-....--.----'.-, -. .-..-.-..-....-... - - belns
a total conside.a,tio4 of $-..-.,.-.,.. . ..; to !e laid as follows, to-wlt:
or........-.......---.......-............