NEFMLS Suggested Forms Are Now Revised

The Northeast Florida Multiple Listing Service, Inc. has just released revised versions of all NEFMLS forms plus a new form for Property Managers to use with tenants concerning photographs.  The NEFMLS Board of Directors approved the recommended changes in February. 

Both the revised forms plus the new form are now available in Flexmls under Daily Functions>Forms/Info.  You will find both an editable version and a “redline” version for those documents that had notable changes made. This Article will summarize the changes made to the specific NEFMLS documents.

Listing Agreement(s) including the Vacant Land Agreement

• In the preamble, the phrase “Seller represents the Seller has legal authority and capacity to convey the property and that no other person or entity has an ownership interest in the Property” has now been moved to the last paragraph of the agreement.
• In paragraph 2, “Real Estate Parcel No.” was replaced with “Property Tax ID No.” Also added a space for the VIN number of a mobile home if included in the listing.
• Paragraph 3(C) now includes “Energy-Related Improvement Assessment (PACE) liens on the property are to be paid by the SELLER at or before closing.”
• Paragraph 5(C) includes permission for the Broker to videograph the property for sale.
• Paragraph 6(G) states that the Seller will comply with the Foreign Investment in Real Property Tax Act (FIRPTA).  The remainder of the FIRPTA language has been moved to paragraph 15 in order to be closer to the signature space.
• Paragraph 6(G) also includes verbiage stating that the Seller will not engage in audio recording of a buyer, buyer’s representatives, buyer’s broker, inspector or appraiser when on the property.  The paragraph includes instructions as well as a check box to indicate if the property does or does not have an active audio and/or visual surveillance system in place.
• Paragraph 19 includes the Wire Fraud Alert message and instructs the Seller on how to avoid wire fraud.
• In the signature space there is a new line labeled “marital status” next to each Seller signature line.

Brokerage Compensation Agreement (This is for a one-time listing)

• The following phrase was added in the first page: “Under Florida Law, the sale of a principal residence requires Seller’s spouse to sign the deed at closing even if Seller’s spouse’s name is not on the present deed.  If applicable, the Seller’s spouse will sign this Agreement to confirm his or her willingness to sign the deed at closing.”  This is the same language that is on the regular listing agreement.
• In the signature space there is a line labeled “marital status” next to each Seller signature line.

Coming Soon Listing Addendum

• The third paragraph now reads as follows:
  
  Notice to SELLER: “Coming Soon” is an industry term for marketing a property before it is placed in Active Status.  Because marketing activities prior to the Property being placed in Active Status reach only a limited number of potential buyers or tenants, a seller or landlord may not obtain the maximum price or optimal terms for the sale or lease of their property. A property that is advertised as Coming Soon but is not entered into NEFMLS does not have the benefit of being fully exposed to the entire potential market. 
    
  
• The fourth paragraph now reads: 
  
  Coming Soon Listing - A Coming Soon Listing in NEFMLS is a listing that is not yet in Active Status in NEFMLS, but has a fully executed listing agreement.  SELLER understands and agrees that the Property CANNOT BE SHOWN and furthermore authorizes Broker to withhold all offers to purchase (Purchase Contracts) until the listing is placed in Active Status in NEFMLS. The Coming Soon listing will be placed in Active Status in the NEFMLS system within 14 calendar days after all necessary signatures of seller(s) have been obtained, with up to one 7-day extension. Only Participants and Subscribers of NEFMLS will have access to the Coming Soon listing database through NEFMLS.  Coming Soon listings will not be disseminated to the public in any manner or in any form through the NEFMLS system until the Coming Soon listing status is changed to Active Status; however, Coming Soon listings will be searchable by NEFMLS members and will appear on the Hotsheet and in Tour/Open House, if applicable.

• The fifth paragraph now reads:  
  
  Acknowledging and understanding the foregoing, the SELLER and BROKER hereby agree that, by signing this Addendum, the SELLER authorizes Broker to engage in marketing activities including, but not limited to, entry into NEFMLS as a Coming Soon Listing prior to the date that the Property listing status is changed to Active Status.
• The last paragraph now reads:
  
  In addition to placing the Property listing in Coming Soon Status in NEFMLS, the Broker is authorized to conduct other marketing activities such as placing a “Coming Soon” sign on the Property, notifying Brokers and licensees with other firms that the Property is “Coming Soon”, advertising, and conducting other marketing activities at Broker’s discretion. 

Seller’s Waiver of Entry

• In the middle of the form, the following sentence has the underlined words added: 

 “By instructing the Broker NOT to enter, publish and display the Listing in NEFMLS, SELLER understands that . . .”

NEW FORM: Tenant’s Consent to Photograph/Videograph and/or Hold an Open House

This is the only new form.  It provides for a tenant to consent that the property can be photographed and videographed inside and outside and that tenant will be notified at least 24 hours in advance that Broker will be taking such photos or videos so that tenant may remove any personal belongings that tenant wishes to have excluded from the photos/videos.  It further states that if such items are not easily movable, Broker will refrain from photographing or videographing such items.  It also provides tenant’s consent for the Broker to conduct one or more open houses of the property on one or more certain dates.  This form is to be signed by the tenant, the seller and the listing agent.

The remainder of the forms only had minor wording changes. The new forms should be available on all transaction platforms (Form Simplicity, TransactionDesk, dotloop, etc.) within the next few weeks.

If you have further questions or need assistance, please call Member Services at (904) 394-9494 x1603.  The above was written by NEFMLS Attorney, Jeff Marks.