To enter a listing into the MLS under terms which are of "Limited Service" versus "Exclusive right-to-sell," the following applies (See image below):
Section 2.12 Limited Service Listing Agreements.
Limited Service Listing Agreements shall mean listing agreements under which:
- the Listing Participant will perform the duties; responsibilities and services required by the Oklahoma Real Estate License Code,
- but fewer than all the services required to complete a transaction. Such listing shall be identified with a “Y” (yes) on the MLS Property Data Form in the “Limited Service” box.
It will be published in the MLS Data compilations so potential cooperating Participants will be aware that it will be necessary to contact the listing Participant prior to initiating efforts to show or sell the property to determine what services will not be performed by the Listing Participant and to what extent the cooperating Participant will be asked to perform services required to complete the transaction.
(6/23/05 - MLS Technology, Inc. Rules & Regulations)