“Syndication” as used in NAR MLS policy, refers to the MLS’s display of Participants’ listings on an MLS public website and the MLS’s distribution of Participants’ listings to a third-party to advertise and/or display on their website. It does not apply to the transmission of Delayed Marketing Exempt Listings (DMEL) through a Brokerage Back Office feed (MLS Policy Statement 8.7) or a data feed of an MLS Participant’s listings (MLS Policy Statement 8.3). (Adopted 11/25) I