IMLS Guidelines

PURPOSE.

The International Multiple Listing Service [IMLS] is a means by which authorized IMLS Broker participants establish legal relationships with other participants by making a blanket unilateral contractual offer of compensation and cooperation to other Broker participants and is a facility for the orderly correlation and dissemination of listing information among the participants so that they may better serve their clients, customers, and the public. Entitlement to compensation is determined by the cooperating agent's performance as a procuring cause of the sale of real property.

The IMLS is not a collectively owned unit by an association, but a privately funded, privately owned company bringing together the world's most important agencies and the public's desire to see international properties. The IMLS has as its objectives to always listen to the ever-changing needs of the marketplace, whether it be brokers or customers. There is an understanding by The IMLS of the need to listen to the top international brokers and agencies in establishing further guidelines as time goes on.

THE IMLS COMMITTEE.

The IMLS shall be governed by its board of directors (hereinafter “Board of Directors”) in accordance with its desires to provide the most current, fresh, and up to date data, as well as protection for all agents involved across the world. Committees may be established to perform such functions as may be delegated, but all actions of committees shall be subject to the approval and confirmation of the Board of Directors. As this is a privately held company, all suggestions will be duly listened to as suggestions to improve all of the workings of The IMLS, and not governance.

Participant

A participant is any agency who applies and is accepted by the IMLS and meets and continues to meet all of the following requirements of either a Broker participant as defined below--

Broker/Agency Participant.

A Broker participant is a participant who meets all of the following requirements:

The individual or corporation, for whom the individual acts as a Broker/officer, holds a valid Real Estate Broker’s license in the country in which the individual or corporation operates when required by law, and owns a real estate agency in that region or has collected the listings of other licensed brokers who meet these requirements

The individual has signed a written marketing and referral agreement with The International Realty and will abide by the rules and data integrity standards of the IMLS in force at that time and as from time to time amended. The Agency has signed a cooperating marketing and referral agreement with The International Realty Inc permitting the marketing of properties and the clear stating of commissions paid upon a successful sales transaction.

Agency agrees to pay all commissions due to The International Realty inc in a timely manner so shared commissions can be paid to any agent or broker who provides the buyer lead which results in that successful sale of real property by The International Realty inc.

Commissions will only be paid to licensed individuals, where applicable. In the United States, commissions will only be paid to licensed real estate brokers in behalf of all of their licensed agents who work under them. These rules will vary from country to country, and The IMLS will make every attempt to follow each rule whenever it can.

Subscriber

A subscriber is anyone who has adapted the IMLS search for their own web site, subjected to the Terms Of Service. This is where agents and brokers throughout the world may adopt the IMLS search widget for their own web site and share in any commissions generated upon a successful sale for making that client lead referral.

Consumers

Consumers can and will have access to the IMLS through various means on the Internet and there will be no charge or codes required. The IMLS search may be found not only on www.TheInternationalMLS.com but on thousands and thousands of web sites throughout the world.

IMLS Charges And Fees

There are NO charges or fees required by anyone to utilize or participate in the IMLS. The IMLS search is free, and there is NO cost to join The IMLS. Agency agreements are required to provide property listings, and not all agencies are accepted as listing providers due to the nature of the international business and the requirement that agencies pay referral fees to The International Realty inc which will use its best endeavors to collect such fees for everyone involved. Therefore, every attempt will be made to select and work with the most reputable and largest companies in each region where the corporation or individual reputation is held most dearest. Participation as a Listing Broker is NOT open to everyone. Participation as a subscriber is open to everyone to display all of the property listings, but referral commissions can only be paid where not excluded from payments provided by law.

A Broker participant is not obligated to pay any recurring participation fees or other IMLS fees and charges for real estate licensees affiliated with the participant or the participant’s firm in or otherwise use the IMLS.

Listing Fees

There are no listing fees charged by The IMLS for providing property listings. Listings are only taken electronically through data feeds, and the responsibility of providing this feed shall reside on the agency wishing to provide these feeds. The IMLS has made arrangements with a vendor who may provide this service for them for the nominal fee of 10 British Pounds per month. IN the case of larges feeds, The IMLS will provide data feed specifications to the willing participating agency.

Agencies will be required to provide the data feeds in suitable fashion so that all listings can be uploaded on to the IMLS technology platform for distribution either via the international search widgets or by proper syndication to other real estate sites when not excluded by agreement with that participating agency. Agencies understand that their assistance may be required in helping in the adaption of their feeds, and will understand that only listings with photos will be displayed and that proper region or locale identification may be needed from time to time.

Referral Fees

Referral fees will vary from locale to locale based on prevailing market conditions in each country, and agencies understand that The IMLS will provide only listings approved via contract with The International Realty inc, and that The International Realty inc will seek the highest commissions to the benefit of all real estate agent and brokers throughout the world. Referral fees will always be paid in a timely fashion, and any deviance from agreements may result in termination as a Listing Agency. The IMLS and The International Realty inc understands that country or local laws always prevail in which the transaction has taken place, and other subscribers and Listing agencies agree to abide by local and country laws.

Listing Procedures

Coordination of the data for all listings shall be between the technology departments of The IMLS and that agency, and the agency agrees to help or assist the IMLS when needed so that proper display of all property listings may result.

It shall be the responsibility of the Agency/Broker participant to properly classify the type of listing, and if necessary, obtain a legal opinion to determine the correct classification. By classifying the type of listing, the listing broker certifies that the listing falls under the legal classification designated. The IMLS shall have no affirmative responsibility to verify the listing type of any listing filed with the IMLS. However, the IMLS shall have the right to have legal counsel make a determination as to the classification of the listing type
and if the listing Agency/Broker does not reclassify it accordingly, the IMLS shall have the right to reject or remove any such listing that it determines falsely represents the classification of listing type.

Agency and Brokers agree that any listings sold shall be removed from their data feeds within 7 days of that closed transaction and sale.

Services by Listing Agency/Brokers

Agency/Brokers who provide property listings will be getting all of the client leads when out side the USA, and are selected as to their ability to perform their tasks in a diligent manner. As the USA has the Exclusive Right To Sell agreement, brokers/Agencies may submit their listings without any guarantee that clients will be directed there, but understand that since their listing commission is already guaranteed upon a sale, that this service may still be extremely beneficial to them and their clients. The IMLS and The International Realty inc reserves the right to direct said clients as it chooses, and these agencies understand the variances of the traditional MLS in the USA as well as the IMLS guidelines. Agents and brokers in the USA understand that the tracking of each and every agency as to the sale of a property is a near impossible task, so in these cases, The IMLS basically serves as similar to an MLS as properties are displayed by the listing agent, but the buyer's commissions are earned by whoever brings the customer and completes the sale.

For those agencies selected to post their listings, as well as receive the clients for each property listing, they understand that they may earn both sides of the commission and will be acting as dual agency and need to abide by all state laws in doing so. The IMLS and The International Realty inc specifically is to be waived from any legal actions involving any improper conduct by agencies and brokers.

Local agencies and brokers understand what is in their agreements as to providing excellent service to all referred clients and what they will be responsible for in doing everything possible to complete a sale. and also understand that continual updating of the CRM systems as to the actions of agency/broker and clients is mandatory as everyone has a vested interest in each lead referred.

Property Identification

All property requests will come with the proper identification of the property based on what has been submitted to the IMLS whenever possible, and this will be sent to each participating agency, immediately in the case of a lead which comes from any of the IMLS search widgets

Acceptance of Listings

Participants understand that NOT all listings will be accepted and promoted that are submitted, and that minimum price requirements will need to be instituted as no fees are collected up front from any Listing Broker, and that listing broker understands that there are costs associated with each successful transaction, and that The IMLS is a privately owned company and has a right to display properties as it chooses. Not all agencies are accepted to provide listings and get clients, and not all agency listings will be approved, accepted or displayed.

There is no mandatory submission of listings and agencies and brokers may decide which properties to either include, or exclude.

Agencies which would like their properties NOT to be disseminated or syndicated shall indicate as such to The IMLS or to The International Realty. In the case of USA listings, USA listings will be syndicated only to international real estate portals ands search engines. Portals do not want duplicates, The IMLS does not want duplicates and agencies do not want duplicate listings, so every attempt will be made to avoid doing so.

Participants compensation

Compensation to participants who have referred a client automatically through their international search, shall be paid a 30% referral fee of whatever The International Realty receives as IT'S compensation, except in the Americas where it shall be 25% Invoices shall be provide on each sale with all important information included.

Termination of Participation of Listing Agency/Broker

When a participant or subscriber of the IMLS is suspended or expelled from the IMLS for failure to pay timely and proper commissions upon a successful sale, the IMLS shall have the right to ease to provide services to such participant or subscriber, including continued inclusion of listings in the IMLS compilation of current listing information. In the event listings are removed from the MLS pursuant to this section, it shall be the sole responsibility of the participant to notify the sellers(s) that the property is no longer listed in the IMLS.

No Control of Commission Rates or Fees Charged by Participants.

The IMLS shall not fix, control, recommend, suggest, or maintain commission rates or fees for services to be rendered by participants. Further, the IMLS shall not fix, control, recommend, suggest, or maintain the division of commissions or fees between cooperating participants or between participants and non-participants except through contractual agreements

Listing Agreement and Seller’s Permission.

Prior to submitting a listing to the IMLS, the listing broker shall obtain the written agreement of the seller(s) expressly granting the listing broker authority to:

a. file the listing with the IMLS for publication and dissemination to those authorized by the IMLS;
b. act as an agent for the seller(s);
c. abide by the rules of the IMLS;
d. provide timely notice of status changes of the listing to the IMLS;
e. provide sales information, including selling price, to the IMLS and The International Realty upon sale of the property for proper disbursements of payments to be made.

The IMLS asks that in the case of the USA, that all local MLS rules and regulations shall assist in the proper guidelines for listings and actions, and that agencies and brokers understand that the very nature of international transactions has varied this business model, but that normal rules of ethics and moral behavior shall be expected by all concerned.

Listing Agencies/Brokers understand that participation in The IMLS is a PRIVILEGE, and NOT a right.

Responsibility for Accuracy.

By inputting information into the IMLS computer database, the listing broker represents that the information input is accurate to the best of the listing broker’s knowledge. The listing broker shall use good faith efforts to determine the accuracy of the information and shall not submit or input information which the listing broker knows to be inaccurate.

The listing broker shall make all necessary corrections when advised as to any errors whatsoever. The IMLS merely publishes the information provided by all listings Agency/Brokers and has no affirmative responsibility to verify the accuracy of the IMLS information. The IMLS, however, reserves the right to require participants and subscribers to change their IMLS information if the IMLS is made aware of alleged inaccuracies in the IMLS information and the IMLS determines that such inaccuracies do in fact exist.

If a participant or subscriber fails to make necessary or required corrections to their IMLS information, the participant and subscriber shall indemnify and hold harmless the IMLS for any claims, cost, damage, or losses, including reasonable attorney fees and court costs, incurred by the IMLS as a result of such failure. The IMLS also reserves the right to remove information and listings from the database when it is clear that inaccurate data has been entered, in addition to disciplining the participant and subscriber for violations of the IMLS rules. In no event will the IMLS be liable to any participant, subscriber, or any other party for any indirect, special, or consequential damages arising out of any information published in the IMLS.

OWNERSHIP OF THE INTERNATIONAL MULTIPLE LISTING SERVICE COMPILATIONS AND COPYRIGHTS.

IMLS Compilation Defined. The term “IMLS compilation” includes, but is not limited to, the IMLS computer database, all printouts of data from the IMLS computer database, and all IMLS publications.

Active Listing MLS Compilation Defined.
“Active listing IMLS compilation” shall mean that portion of the IMLS compilation which includes listings currently for sale and all other indexes and other information relating to the current listing information.

Authority to Put Listings in MLS Compilation.
By submitting any property listings data to the MLS or inputting listing information into the IMLS compilation, participants and subscribers represent that they have been authorized to grant and also thereby do grant authority for the IMLS to include the property listing data in its copyrighted IMLS compilation. By submitting any property listing data to the IMLS, participants and subscribers represent that they have been authorized to report information about the sales, price, and terms of a listing, have authority to grant and also thereby do grant authority for the MLS to include the sold information in its copyrighted MLS compilation.

Photographs on the IMLS.
By submitting photographs to the IMLS the submitting participant and/or subscriber grants the MLS and the other participants and subscribers the right to reproduce and display the photographs in accordance with these rules. Use of photographic media by a subsequent listing agent requires prior written authorization from the originating participant and/or subscriber or other appropriate party. Photographic media may not contain other information which goes beyond a presentation of the property.

Copyright Ownership.
All right, title, and interest in each copy of every IMLS compilation created and copyrighted by the IMLS, and in the copyrights therein, shall at all times remain vested in the IMLS. The IMLS shall have the right to license such compilations or portions thereof to any entity pursuant to terms agreed upon by the Board of Directors. All right, title, and interest in each copy of every compilation created by any technology solution aggregator, shall, pursuant to agreement with the IMLS, at all times remain vested in the aggregator.

Leasing of MLS Compilations.
Each participant shall be entitled to lease from the IMLS the property listings and this can be accessed on www.MySonarSearch.com and there is NO CHARGE to have as many of The IMLS searches as wished.

Advertising of Listing Filed With the IMLS.
A listing shall not be advertised in any media including the Internet by any participant or subscriber, other than the listing broker, without the prior consent of the IMLS and The International Realty inc.

False or Misleading Advertising and Representations;

True Picture Standard of Conduct.
Participants and subscribers may not engage in false or misleading advertising, including, but not limited to, advertisements or representations regarding the participant’s or subscriber’s relationship to the IMLS, about the IMLS itself, or about any property listed with the IMLS. IMLS participants and subscribers shall present a true picture in their advertising and representations to the public, and participants and subscribers may not:

engage in deceptive or unauthorized framing of real estate brokerage web sites;
manipulate (e.g., presenting content developed by others) listing content in any way that produces a deceptive or misleading result; or
deceptively use meta tags, keywords or other devices/methods to direct, drive or divert Internet traffic, or to otherwise mislead consumers.

Use of IMLS Information.
In recognition that the purpose of the IMLS is to market properties and offer compensation to other Broker participants and subscribers for the sole purpose of selling the property, and that sellers of properties filed with the IMLS have not given permission to disseminate the information for any other purpose, participants and subscribers are expressly prohibited from using IMLS information for any purpose other that to market property to bona fide prospective buyers. Any uses of MLS information inconsistent with these sections is expressly prohibited. Nothing in this section, however, shall limit the MLS from entering into licensing agreements with MLS participants and subscribers or other third parties for use of the MLS information.

Display.
Broker and Agency participants and subscribers shall be permitted to display the IMLS compilation in either electronic or printed format to specifically identify and bona fide prospective buyers only in conjunction with their ordinary business activities of attempting to locate ready, willing, and able buyers for the properties described in said IMLS compilation. Broker participants and subscribers shall be permitted to display the IMLS compilation in either electronic or printed format to specifically identified and bona fide sellers or prospective sellers

Reproduction.
“Reproduction” shall include, but not be limited to, making photocopies, computer printouts, electronic transfers (including email), or downloading of IMLS data or compilations. Participants and subscribers or their affiliated Licensees shall not reproduce any IMLS compilation or any portion thereof. An IMLS Search widget may be obtained under the Terms of Service.

Use of the Terms IMLS and International Multiple Listing Services.

No IMLS Participant or Subscriber shall, through the name of their firm, their URL's, their e-mail addresses, their web site addresses, or in any other way represent, suggest, or imply that the individual or firm is an IMLS, or that they operate an IMLS, but are permitted to state that they DISPLAY The IMLS on their web sites. Participants and Subscribers may suggest, or imply that consumers or others have direct access to IMLS databases, or that consumers or others are able to search IMLS databases available to Participants and Subscribers. Participants outside the USA are free to advertise that they have these properties on their web sites, and/or that they are agencies/brokers who are Participants under the IMLS in their aid to OBTAIN LISINGS. This may be a competitive advantage for agencies/brokers, as only APPROVED agencies/brokers will be getting all client leads. In the USA, all agencies and brokers may submit their listings, providing that they provide listings electronically and under other stated guidelines, but understand that due to logistical issues, not all agency listings may be accepted.

Reinstatement.
Any participant whose IMLS services have been terminated for nonpayment of IMLS referral fees may reapply for participation in the IMLS. However, prior to being granted access, such participant and/or subscriber must pay double all fees applicable as to all past due amounts owed, including paying interest at the rate of ten (10%) per annum on such past due amounts.