Hi, this is Anthony with OC Realtors, here to give an instructional training video. Most of you asked, “What’s the difference between the CAR SELM or Sellers Instructions to Exclude Listing from the Multiple Listing Service and CRMLS’ Sellers Instruction to Exclude listing from the MLS. The answer to that question is DOM or Days On Market. Today’s instructional video will go over the CRMLS Exclusion Form, which is the form that we here at OC REALTORS® recommend that you use for a client if your client does decide they want or need you to exclude the property from the MLS. Okay. So let’s go over the CRMLS Exclusion Form. Now just real quickly. You can find the CRMLS Exclusion Form within your zipForm® account. Just be in a transaction and when you go to add forms to the transaction. Switch the libraries from California Association of REALTORS® library to the CRMLS library. There you will find the Seller Instructions to Exclude the Listing from the Multiple Listing Service. Now the reason why you’re using this form, is that the seller has expressed to you that they would like to keep the listing out of the MLS maybe because they need to remodel. Maybe they need to clean it up do some painting. Things like that. The seller does have the right to exclude the listing from the MLS either for a period of time or indefinitely. But we as agents have to explain to a client the impact of keeping a listing out of the MLS. This is where the CRMLS Exclusion Form comes in. So let’s go over the form. Very basically. At the top of the form, make sure that the property address is filled in and the listing agreement date and the expiration date are filled in based on the what’s been written on the Listing Agreement. But now what we need to do is explain the impact of keeping the listing out of the MLS. Paragraph 1 basically says that if a seller does decide to exclude a listing from the Multiple Listing Service this will impact the exposure on the internet to multiple possible buyers. When an agent takes a listing and inputs of listing into the MLS, Their listing is now syndicated to over thousands of different website. Some of these websites will include Zillow, realtor.com, Homeseekers, Homes.com, LAtimes.com, OrangeCountyRegister.com To just name a few. So one of the many promises as a listing agent is to say, “I will expose your property out to the world to entertain the highest and best offer from multiple buyers.” So if a seller does decide to exclude their listing from the mls, this now excludes the property from being exposed onto the internet properly. If your listing goes out to over thousands of different web sites, now you’re limiting the amount of buyers that see the home to give an offer to the property. Paragraph 2 is the impact of excluding listing from the Multiple Listing Service. We have an expressed rule that says that we are going to cooperate with other brokers. If we exclude that listing from the MLS, now the other brokers who have buyers that could potentially make offers on this home. We’re now excluding them out of the equation to give us offers to entertain the highest and best offer. So now paragraph1 where we’re excluding it from the internet, exposure to buyers to potentially make offers on a home right now. We’re also excluding it from the MLS from other brokerages not knowing about this home being for sale. Now we’re excluding them from making maybe the highest and best offer as well for their clients Paragraph 3 the impact on the Days On Market. Now this is a big one. This is a big one because when we do when the seller does allow us to input the listing into the MLS on a date that’s different from what’s on the Listing Agreement? This does impact the DOM. Now. What DOM stands for is Days On Market. NOT Days On MLS. The Days On Market are calculated from the Listing Agreement. Either the Listing Agreement Start Date or the last signature date on that listing agreement. Whatever is later that determines when our Days On Market do begin. When we do input a listing into the MLS. Now this means that way when we market a property once we get a Listing Agreement signed, then we are marketing that property based on a listing agreement. This gives direct impact on modifying that DOM when we input that listing into the MLS Marketing as defined by CAR and CRMLS is any communication about a property in any form. Basically if we are disclosing the property address or a price or any details about a property on any form of media or any advertising. Like as an example. We place our For Sale Sign on the property. That’s marketing. We do an internet post like on Craigslist or maybe we do a direct post to Zillow. That’s considered marketing. We do a social media post whether we do a YouTube video or a Facebook post or our targeted ad or boosted post. That’s all consider marketing. Flyers and you know about the property that we’re leaving at the property or we’re walking around the neighborhood and distributing or even just a simple open house. That’s all considered marketing. The impact of this is basically the seller saying how they want us to market the property right away or not right away. This determines the DOM on a listing. Once we’ve explained these three paragraphs to our sellers. Now the seller decides what choice they want to do. Very simply, we’ll go through these four choices. And by the way, this is super simple. So let’s go over the 4 choices here. The seller can decide that they will want you to market the property but not input the listing into the MLS until a certain date. While you’re marketing the property However you need to do it. Facebook posts, targeted ads What-have-you. When you input the listing into the MLS on this particular date, then the DOM is determined from the time that you took the Listing Agreement. Now the seller can decide that they do not need you or want you to market the property. Okay, Option B, NO Marketing the Property whatsoever until you input the listing into the MLS. The day that you input the listing into the MLS is the day that you can begin the market the property. Now your DOM will begin on this date. Choice 3, The seller has said, “I don’t want you to market the property until we get it fixed up until this date. But I don’t want you to input the listing until a different date.” So let’s use this as an example.” I take the listing with the with the seller on August 1st But because they need to fix the property up or they need to clean up the property to get ready to market. They are not ready to market the property until August 15th But I am NOT allowed to input the listing until August 30th. Now on August 30th when I input the listing into the MLS, I’m going to have 15 Days On Market based on the date that I am marketing the property of August 15th. Not on August 1st. So NO Marketing from August 1st to August 15th. But I am marketing from August 15th and beyond So when I input that listing into the MLS on August 30th, I’ve got 15 days on market based on my August 15th date. Now Choice 4, says that the seller is not allowing us to input the listing at all into the MLS and that I can market that property any other way I see fit. So at this point DOM is irrelevant. We’re not inputting the listing at all in the MLS. I am now free to market the property however else I need to get this property sold. So based on one of these 4 choices and by the way choice B and C do require dates. Please DO NOT put in “To Be Determined by Broker or Seller.” Because those are not valid dates. There must be specific dates in one of these three sections. With one of these three sections chosen, please down below make sure that your seller(or sellers) sign this agreement along with you, yourself, the Listing Agent as well as, what’s just as important, your broker or office manager signature. With all 3 or 4 signatures done, you now have within 2 Business Days to submit a copy of this document to CRMLS. Showing CRMLS why your listing has now been kept out of the MLS. I hope this has answered everyone’s questions. Thank you for watching today’s video on the CRMLS Seller’s Instruction to Exclude Listing from the MLS form. I hope that it was very helpful and informative. If you have any questions or need more information Please CLICK on the link below or you can email CRMLS at [email protected] Thank you very much!