2026 Handbook on Multiple Listing Policy

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The Handbook on Multiple Listing Policy (hereinafter referred to as the "Handbook") is copyright by the National Association of REALTORS® and may not be reproduced, retransmitted, or distributed except as provided for herein. The Handbook is intended to guide member associations of REALTORS® in the operation of multiple listing services consistent with the policies established by the National Association's Board of Directors.

The Handbook includes model enabling provisions for insertion in association bylaws authorizing establishment of a multiple listing service and bylaws and rules and regulations for MLSs which will permit optimum service and efficiency.

Members may download and print a single copy of the Handbook for their own use and Member Associations may also download and print multiple copies of the Handbook for their use in education and training programs provided by the Association/MLS and for association/MLS staff responsible for the programs covered by the Handbook. All copies of the Handbook authorized hereunder must include the following copyright notice: Copyright 2025, National Association of REALTORS®.

The Handbook includes compliance classification categories after each policy denoted by the following symbols:

M—Mandatory*
R—Recommended
O—Optional
I—Informational

*Adoption is necessary to ensure compliance with mandatory policies established by the NATIONAL ASSOCIATION OF REALTORS® Board of Directors and coverage under the National Association's master professional liability insurance policy. Local adoption is required by August 17, 2024.

On nar.realtor, amended provisions are shaded in yellow to signify that changes have been made to that content from the previous year. In the PDF, amended provisions are shaded in gray.

Previous years' changes to MLS policy and Model MLS rules and regulations can be viewed here.

Explore this issue

 

Preface

Chronological Listing of Multiple Listing Policy Statements

Purpose

Part One: Key Definitions

Section 1 Multiple Listing Service (MLS) Defined

Section 2: Definition of MLS Participant

Section 3: Definitions of Various Types of Listing Agreements

Section 4: Listing Content Defined

Part Two: Policies

A. MLS Antitrust Compliance Policy

MLS Antitrust Compliance Policy

B. Structure

Section 1: Types of Multiple Listing Services

Section 2: Association and MLS Compliance with National Association Policy

Section 3: Multiple Listing Service Reciprocal Agreements between Association Contract Service for Multiple Listing Service, or Other Association Agreements Concerning the Association Multiple Listing Service - Deleted November 2025

Section 4: Relationship of Association with Independent Multiple Listing Service in Association Area

Section 5: Information Related to Listings of Commercial and Industrial Property

Section 6: Service Area of Multiple Listing Services - Deleted November 2025

C. Administration

Operational Issues

Section 1: Procedures to Be Followed by an Association of REALTORS® Upon Demand for Access to the Association’s Multiple Listing Service without Association Membership - Deleted November 2025

Section 2: Prerequisites for Participation in or Access to a Commercial/Industrial Multiple Listing Service of an Association of REALTORS® - Deleted November 2025

Section 3: MLS Indoctrination Requirements Relating to Individuals Entitled to Participation without Association Membership - Deleted November 2025

Section 4: Inclusion of Exclusive Agency Listings in MLS Compilations and Databases

Section 5: Effective Date of Changes in Multiple Listing Policy

Section 6: Factual Data Submitted by Appraisers

Section 7: Names of Multiple Listing Services - Deleted November 2025

Section 8: Categorization of MLS Services, Information, and Products

Section 9: Changes in MLS Rules and Regulations

Section 10: Nonmember Broker/Appraiser Access - Deleted November 2025

Section 11: Removal of Listings when Participant Refuses/Fails to Timely Report Status Changes

Section 12: Real Estate Transaction Standards (RETS) and RESO Standards)

Section 13: Orientation and Other Training - Deleted November 2025

Section 14: Submission of Photographs or Other Graphic Representations

Section 15: Submission of Legally Required Seller Disclosure Information

Section 16: Price Change Information

Section 17: Days/Time on Market Information

Section 18: Need to Disclose if Property is a Foreclosure, is Bank-owned, or is Real Estate Owned (“REO”)

Section 19: Customer Service and Tech Support

Section 20: Fair Housing

Finance

Section 1: Waivers of MLS Fees, Dues, and Charges

Section 2: Assessment of MLS Fees, Dues, and Charges

Section 3: Merger or Dissolution of Association or MLS

Law

Postal Regulations

Section 1: Compliance with United States Postal Codes

Tax Exempt Status of An Association of REALTORS®

Section 2: Limitation on Content of Association Advertising

Standard Multiple Listing Service Mark of the National Association of REALTORS®

Section 3: Nature of the Standard Multiple Listing Service Mark

Section 4: Authorization to Use the Standard Multiple Listing Service Logo

Section 5: Special Notes Concerning the Standard Multiple Listing Service Logo and the National Association's REALTOR® Trademark

Section 6: Use of the Standard Multiple Listing Service Logo by Nonmember Participants

Other Legal Issues

Section 7: Compliance with Law by Association and MLS

D. Data

Current Listings

Section 1: Listings

Section 2: Termination Dates

Section 3: Net Listings

Section 4: Open Listing - Deleted November 2025

Section 5: Multiple Listing Options for Sellers 

Section 6: Listing Prices Specified

Section 7: Auction Listings

Section 8: Limited Service Listing

Section 9: MLS Entry-only Listings

Section 10: Listings of Suspended Participants

Section 11: Listings of Expelled Participants

Section 12: Listings of Resigned Participants

Section 13: Submission of Offers - Deleted November 2025

Section 14: Reporting Resolutions of Contingencies

Section 15: Reporting Cancellation of Pending Sales

Section 16: Information Included in Any Association MLS Compilation

Section 17: Protection Clauses in Association MLS Standard Listing Contracts

Section 18: Compensation Notice

Section 19: Reproduction of MLS Information

Section 20: Property Addresses

Section 21: Non-Filtering of Listings

Section 22: Definition of "syndication"

Sold/Comparable/Off-market Information

Section 1: Reporting Sales to the MLS

Section 2: Withdrawn Listings

Section 3: Inclusion of Expired or Withdrawn Listings in an Association’s Comparable or Other Report of Statistical Information

Statistical Reports

Section 1: Statistical Reports

Section 2: Statistical Reports Should Be Kept

Advertising

Print and Electronic

Section 1: Internet Data Exchange (IDX) Policy

Section 2: Use of MLS Information in Advertising and Other Public Representations

Section 3: Transmittal of Participants’ Listings to Aggregators - Deleted November 2025

Section 4: Electronic Display of Other Participants’ Listings

Homes Magazines

Section 5: Regulation of Advertising in Association or Commercial Publications

Other Advertising Issues

Section 6: Services Advertised as "free"

Statewide Data Sharing

Section 1: Statewide Data Sharing Defined

E. Participants’ Rights

Section 1: Participation Should be Optional

Section 2: Association Membership as Prerequisite to MLS Participation - Deleted November 2025

Section 3: Participation in an Association Multiple Listing Service of a Branch Office Manager Who Is Not a Principal of the Real Estate Firm

Section 4: MLS Participation by Brokers Acting as Agents of Potential Purchasers

Section 5: Facilitators/Intermediaries as MLS Participants - Deleted

Section 6: Immediate Access to MLS by Association Members if Provided to Nonmember

Section 7: Presentation of Offers - Deleted November 2025

Section 8: Showings and Negotiations

Section 9: Rights of Cooperating Brokers in Presentation of Offers - Deleted November 2025

Section 10: Rights of Listing Brokers in Presentation of Counter-offers - Deleted November 2025

Section 11: Code of Ethics

Section 12: Arbitration

Section 13: Lease of MLS Compilations

Section 14: Caravans

Section 15: Ownership of Listing and Listing Content

Section 16: Digital Millennium Copyright Act, Safe Harbor

Section 17: Clear Cooperation

Section 18: Right of Participant to MLS Data Feed of Listing Content

Section 19: One Data Source

Section 20: Brokerage Back Office Data Feed

F. Enforcement of Rules

Section 1: Appropriate Procedures for Rules Enforcement

Section 2: Rules and Regulations

Section 3: The Use of Fines as Part of Rules Enforcement

Section 4: Financial Penalty Not to Exceed $15,000 - Deleted November 2025

Section 5: MLS Disciplinary Guidelines - Deleted November 2025

G. No Compensation Offers in MLS

Section 1: No Compensation Offers in MLS

Section 2: Agency

Section 3: Required Consumer Disclosure

Section 4: Written Buyer Agreements Required

H. Lock Box/Key Repositories

Section 1: Lock Box Security Requirements

Section 2: Lock Box Key Deposits

Section 3: Centralized Key Repositories - Deleted November 2025

Section 4: Minimum Security Measures for Centralized Key Repositories of Association Multiple Listing Services - Deleted November 2025

I. Virtual Office Websites: 

Policy Governing Use of MLS Data in Connection with Internet Brokerage Services Offered by MLS Participants

Part Three: Model Governance Provisions

  1. Model Association Bylaw Provisions Authorizing MLS as a Committee of an All-REALTOR® Association
  2. Model Association Bylaw Provisions Authorizing MLS as a Committee of an Association with REALTOR® and REALTOR-ASSOCIATE® Members
  3. Model Rules and Regulations for an MLS Operated as a Committee of an Association of REALTORS®
  4. Model Association Bylaws Provisions Authorizing a Multiple Listing Service as a Wholly-owned Subsidiary Corporation of the Association
  5. Model Bylaws for a Multiple Listing Service Separately Incorporated but Wholly-owned by an Association of REALTORS®
  6. Model Rules and Regulations for an MLS Separately Incorporated but Wholly-owned by an Association of REALTORS®

Part Four: Appendices

Appendix 1: History and Background

Appendix 2: Merging an Independent MLS with an Association of REALTORS®

Appendix 3: Protecting the Tax-exempt Status of the Association of REALTORS®

Appendix 4: MLS Schedule of Fines for Administrative Sanctions

Appendix 5: Model Multiple Listing Service Subscription Waiver for Use by Association Multiple Listing Services, National Association of REALTORS®

Appendix 6: National Association of REALTORS®Association Donated Services Record for Committee Meetings

Appendix 7: National Association of REALTORS® Association Donated Services Record, Miscellaneous

Appendix 8: Model Lock Box Authorization Addendum

Appendix 9: Select Interpretations from the Official Interpretations of Article I, Section 2 of the National Association of REALTORS® Bylaws as Referred to in this Handbook