Fillable Application For Designated Realtor Form (Page 3 of 4) in pdf

PARTICIPATION AGREEMENT

APPLICATION FOR SERVICE FROM THE

NORTH TEXAS REAL ESATE INFORMATION SYSTEM, INC (“NTREIS”)

THROUGH ARLINGTON BOARD OF REALTORS (“ARBOR”),

LOCAL MULTIPLE LISTING SERVICE PROVIDER

STATE OF TEXAS

COUNTY OF TARRANT

THIS AGREEMENT is made and entered into by the undersigned party (“Participant”) in conjunction

with Participant’s Application for MLS Service from NTREIS through ARBOR.

FOR AND IN CONSIDERATION of the privileges of service from NTREIS, the benefits to be derived by

the Participant and other goods and valuable consideration, the receipt and sufficiency of which is

acknowledged, upon acceptance of the Application of the Participant, the Participant agrees as follows:

1. Participant acknowledges that Participant has read all Rules and Regulations of the MLS and the

National Association of REALTORS (“NAR”), understands such Rules and Regulations, and agrees to

observe, comply with, and uphold the Rules and Regulations so long as Participant is a member of

MLS.

2. Participant covenants and agrees that, for every listing of property filed with the MLS, Participant will

obtain a written listing agreement from the owner or owners of the property, which listing agreement will

provide

(a) a good and sufficient legal description of the property;

(b) that the listing broker on the property has either an exclusive right to sell or lease the property,

or that the listing broker is appointed as the exclusive agent of the owner for the sale or lease of

the property;

other participants in the MLS, and;

(d) authorization for the listing broker to submit statistical information to the MLS after the property

is sold or exchanged, including, but not limited to, the true sales price, whether the sale was for

cash of financed by the owner, and in the event of an exchange, the value allocated to the

property by the parties to the exchange transaction.

3. Participant agrees to retain in Participant’s files an executed copy of the listing agreement for a period of

365 days after the date on which the property is sold or the date on which the listing for the property is

terminated whichever is later.

4. Participant covenants and agrees, with respect to each listing of property filed with the MLS by

Participant to complete a profile sheet on a form made available by the MLS. By filing the information

concerning each listing with the MLS by Participant, the Participant warrants and represents to the MLS

that Participant has obtained a written listing agreement described in paragraph 2 and a duly completed

profile sheet containing the information required by the MLS. Participant agrees to retain the

Participant’s files each of the profile sheets for a period of 365 days after the date on which the property

is sold or the date on which the listing for the property terminated, whichever occurs later.

5. Participant agrees to indemnify and hold harmless NTREIS, ARBOR, and all other participants of the

MLS of and from any and all claims, causes of action, damages, losses or injuries sustained as a result

of failure of the Participant to comply with the terms and provisions of this Agreement or of the Rules

and Regulations of the MLS, as amended from time to time. The indemnification provisions of this

paragraph shall survive any resignation or termination of service from NTREIS by Participant.

Participant acknowledges that all date included in the MLS system belongs to and is owned by NTREIS.

6. I herby authorize representatives of NTREIS and/or ARBOR to request information concerning my

creditworthiness in connection with this Agreement.

7. I agree that as a condition of my Participation in NTREIS, through ARBOR, to complete the Orientation

courses prescribed by NTREIS.

______________________________________

_________________________

Signature of the Applicant

Date

Application For Designated Realtor Form Page 3

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