Processing and Billing: Drop Realtor Membership; want to continue with Maine Listings If eligible/want to continue as a nonmember, within 30 days must submit a Must notify Maine Listings in writing new Site License, pay $825 initiation fee, and non member differential starting with that month Participant joins as REALTOR, but doesn't complete membership requirement such as orientation class An additional $825 is assessed, and non member fee differential is assessed Participant Name Change Account must be current; Maine Listings administratively processes Complete Name Change form; Either the former or new Participant may complete the form. Participant Sells Company New site license is required. Office ID is retained unless new ID is requested by buyer. If name changes, the name on listings changes too. Account of Participant must be current. Complete new site license; inform Maine Listings of whether or not to use same Office ID. If using the same Office ID the initiation fee is waived. Participants Merge Office which will no longer be active will terminate their Current and Pending listings. New office can copy listings and submit as new under new office. Previously sold and/or off market listings on the other Office ID remain under that ID. Accounts of both Participants must be current. Complete new license; inform Maine Listings which Office ID to use. Fees, Fines Pro Rated Billing Participant and Vendor Fees are detailed in the Maine Listings Rules; Fines are defined in the Maine Listings Rules There is no prorated billing. Pay for entire month or quarter, as defined. The Maine Listings Rules & Regulations are posted at mainelistings.com 1
Payment by Check No Refunds Advance Payment Reinstatement after Collections Process Leave of Absence (LOA) There is a $25 adminstrative fee per check when elect not to use the electronic payment system. There are no refunds for any reasons including advance payments; or for terminations. Vendors and Participants may pay any fees up to a year in advance. Should fees change during the year, will be assessed any difference. Any Participant wishing to be reactived as a Participant or end user must pay all fees by certified bank check for reinstatement Account must be current. Current and pending listings will be withdrawn by Maine Listings within 15 days Authorized Representative must request LOA in writing prior to date of wanting waiver. Not retroactive. Must explain with proof regarding need for the absence; and that access will not be gained at any time during LOA term Rejoining Allow a one time waiving of initiation fee if a company rejoins within twenty four (24) months of terminating their participation. Company must have the same DR/owners and the predecessor firm does not exist. End User Processing Maine Listings will process End Users at the request of the Participant. The End User must be licensed with the company at the time, even if not yet appearing on MREC website. Major Violation if MREC records later show incorrect licensing info provided to Maine Listings. Participant electronically submits End User via the End User Authorization Form; and new End Users must complete the End User License Agreement (EULA) E Processing All legal forms and agreements accepted online by Participants and Vendors are considered executed, with same legal acceptance as paper documents 2
IDX and VOW Site Reviews (Initial and when changes) If a new vendor: vendors and Must reapply for additional time period if Participants have 60 days to provide a new vendor and don't complete the site for review. Extension of time compliance within 60 days. requires an additional payment of setup fees. If existing vendor, compliance review is optional but violations give automatic penalties. A compliance checklist is available in print or online to assist in confirming understanding and compliance with rules. Changes involving IDX data that occur after compliance review may be resubmitted for additional review before making available to public. Participant Data Feed of own company lisings Any Participant my request a feed of their own company listings to provide to any vendor of choice. Information is delivered by RETS. Vendor use of that data is at Participant's own risk. A form must be completed to set up the feed. Monthly Fee Waivers Any Participant fee waiver or reduction is made by the Board of Directors as part of the overall budget process. Classes and Training: Missed Class/Training Policy There is a $25 fee for missed classes, or cancellation within a certain time period. Bylaws & Policies: Requirement to Follow All Participants, End Users and Vendors are required to follow the Maine Listings Bylaws, Rules and Policies. Bylaws, Rules, Policies are posted at MaineListings.com. Participants and End Users cannot rely on vendors to provide accurate info about what is or is not permitted. 3
Requests for Change Requests for any policy change must be made in writing and sent to the Maine Listings Office. The request must originate from a Participant. Quarterly, Maine Listings considers policy changes to its bylaws and rules. Repeat requests within a same calendar year will often be delayed to the policy date. New issues may be considered at any Board meeting as determined by the Maine Listings President. NAR Bylaws/Rules Requirements Maine Listings is a REALTOR MLS and follows mandatory policies established by the NAR Board of Directors. Amendment language noting implementation of mandatory language is in the rules/bylaws. MAR Approval of Certain Maine Listings Bylaws changes Vendor Requests As a wholly owned subsidiary of MAR, certain bylaws changes would also require approval by the MAR Board of Directors. Vendor requests for access or change of policies must be submitted by a Participant. Technical determinations that deny IDX or other vendor application requests made by staff are final and not available for appeal by the Board of Directors. Conflicts of Interest Policy Accounting Status Travel Policy All Board of Director members shall annually sign a Conflict of Interest statement; and disclose any potential conflict prior to consideration of any action Maine Listings has a for profit tax status; operates on a calendar year; and uses accrual accounting. Reserves are monitored to keep reasonably close to $500,000. Travel by officers, directors and staff are established by the Maine Listings Board of Directors 4
Financial Policies The bylaws establish spending limits by the Executive Committee. Signatories on financial accounts are determined solely by the Board of Directors. No signatory may sign a check or authorize an electronic payment made payable to their name, a family member, or their personal/family owned business. There is an annual audit conducted by a CPA/accounting firm. The Maine Listings CEO, Office Manager and Bookkeeper may use the debit card for authorized purchases by the Board or in budget, which require immediate documentation. Lockboxes: New Users Voluntary Return Policy Key Holder Termination May request up to 120% of their Active and Pending inventory or 3 boxes, whichever is higher. Additional boxes are not assigned until staff confirms correct assignment of boxes on properties. Users are encouraged to voluntarily return any unused or unwanted lockboxes If a key holder terminates, all equipment leased to the key holder must be immediately returned to the Maine Listings Office or dropped off at one of the assigned lockbox distribution locations within the state. Execute key holder lease agreement Failure to return leased equipment is subject to recapture as outlined in Section 17.3 of the Maine Listings Rules and Regulations. Transfer of Lockboxes A key holder may transfer an assigned lockbox to another key holder. Request must be done in writing using the Lockbox Transfer Request Form (avaiilable on MaineListings.com) and approved by Maine Listings. 5
Maine Listings Rights to Recover Key holders may not sell any leased equipement to other users or outside entities, per terms of the lease agreement executed between key holder and Supra. Failure to return leased equipment is subject to recapture as outlined in Section 17.3 of the Maine Listings Rules and Regulations. Last Amended Date: 9/22/17 6