# Section 4: Key MLS Concepts, Jurisdiction & Agreements {% hint style="info" %} 🟦 = NAR-based policy provision {% endhint %} ### [4.1 – Key MLS Concepts and Definitions](#id-4.1-key-mls-concepts-and-definitions)🟦NAR Model Rules #### [A. Multiple Listing Service (MLS)](#multiple-listing-service-mls) A facility for Brokers to share listing information in an orderly way to enhance cooperation. It also serves as a mechanism to enable Subscribers to prepare appraisals, analyses, and other valuations of real property for bona fide clients and customers. #### [B. Cooperation](#b.-cooperation) Sharing information on listed property and making property available to other Agents for showing to prospective purchasers and tenants when it is in the best interests of a Listing Agent’s clients, and/or attempting to find buyers or tenants for properties listed in the Service. #### [C. The 3-Day Rule](#the-3-day-rule) Unless otherwise stated, all actions required for a listing to remain in compliance must occur within three (3) business days (Monday–Friday), excluding certain Federal holidays. See [**Section 1.1 – Timekeeping (Applies to Entire Handbook)**](https://rulebook.bscmls.com/pages/VjRMUDfZ0Hw8G1b1J5zg#id-1.1-timekeeping-applies-to-entire-handbook). #### [D. Listing Content](#listing-content) Any data related to a listed property, including photos, videos, virtual tours, documents, descriptions, remarks, and pricing. #### [E. Internet Data Exchange (IDX)](#e.-internet-data-exchange-idx) A cooperative agreement among MLS members to display each other's listings on their own websites, fostering broker reciprocity and providing consumers with comprehensive, MLS-sourced data directly from agent sites. See [**Section 14**](/section-14-data-feeds-idx-vow-policy-website-display-rules.md) for more details. #### [F. Listing Syndication](#f.-listing-syndication) A unilateral decision by a brokerage to advertise its own listings on third-party websites (portals) for maximum public exposure, with the brokerage controlling where their listings are sent. #### [G. Real Property vs. Personal Property](#g.-real-property-vs.-personal-property) BSCMLS accepts listings only when a real property interest is conveyed (e.g., land or an assignable long-term leasehold recognized as real property under applicable law). #### [H. Business Only Listings](#h.-business-only-listings) Unless the business includes a building or unit for sale, or an assignable lease, it cannot be entered into the BSCMLS. #### [I. Days on Market (DOM)](#i.-days-on-market-dom) The collective number of days a property is being marketed for sale without any pending purchase agreement under its current MLS number. DOM does not accrue while a listing is Under Contract, Contingent, Temporarily Off-Market, Expired, Canceled/Terminated, Sold, or Leased. DOM stops (pauses) once a purchase agreement is accepted or leaves the market. #### [J. Cumulative Days on Market (CDOM)](#j.-cumulative-days-on-market-cdom) CDOM tracks the total marketing history of the underlying parcel(s), regardless of changes in Listing Agent, office, or price. Material composition changes, such as splitting off a lot or adding/removing a structure, do not automatically reset CDOM. If any portion of the property has been publicly exposed to the market, that history remains attached to the listing. CDOM accrues only while the property is in a status that counts as active marketing and stops when the property is no longer actively marketed. **Resetting to Zero DOM:** If the property is relisted within 180 days after expiration, cancellation, or termination, CDOM continues from the prior listing, unless the property was sold or leased during that period. CDOM resets to zero only after 180 consecutive days off-market with no active listing agreement. #### [K. DOM & CDOM Accrual by Status:](#dom-and-cdom-accrual-by-status)
Listing StatusDOM Accrues?CDOM Accrues?
Active (all marketing options)✅ Yes✅ Yes
Active-Property Sale Contingency✅ Yes✅ Yes
Contingent, Backups OK❌ No❌ No
Under Contract❌ No❌ No
Temporarily Off-Market❌ No❌ No
Expired / Canceled / Terminated❌ No (clock stopped)❌ No (clock stopped)
Sold / Leased❌ No (clock stopped)❌ No (clock stopped)
### [4.2 – BSCMLS Service Area and Jurisdiction](#id-4.2-bscmls-service-area-and-jurisdiction) The official BSCMLS service area includes the following Montana counties: {% columns %} {% column %} * Beaverhead * Broadwater * Deer Lodge * Gallatin {% endcolumn %} {% column %} * Granite * Jefferson * Madison * Meagher {% endcolumn %} {% column %} * Park * Silver Bow * Sweet Grass {% endcolumn %} {% endcolumns %} #### [View the BSCMLS Service Area Map Here](https://bscmls.com/service-area) Listings located outside the BSCMLS service-area counties may be entered voluntarily. These voluntary listings are exempt from (a) the BSCMLS 3-Day Rule and (b) CCP-related submission deadlines that apply within the service area – see [**Clear Cooperation Policy (“CCP”) Violation and Repercussions**](https://rulebook.bscmls.com/pages/Ly52oj7Jm1RUXjXdk2ur#id-6.6-clear-cooperation-policy-ccp-violation-and-repercussions-nar-policy-8.00). Once a voluntary listing is entered into the MLS, it must still follow all MLS content, accuracy, status-change reporting, and data integrity requirements applicable to any listing record. ### [4.3 – Authorized Listing Agreements](#id-4.3-authorized-listing-agreements) 🟦NAR Model Rules These requirements ensure that a single authorized party is responsible for the accuracy of the property data. #### [A. AGREEMENTS ELIGIBLE FOR ‘ACTIVE’ STATUS](#a.-agreements-eligible-for-active-status) The following agreement types establish an exclusive agency relationship and authorize the Broker to cooperate with other Participants. {% stepper %} {% step %} #### ✅ **Exclusive Right-to-Sell:** The seller provides exclusive authorization to the Listing Agent to cooperate with other Brokers in the sale of the property. The commission is payable regardless of who procures the buyer. {% endstep %} {% step %} #### ✅ **Exclusive Agency:** The seller authorizes the Listing Agent to cooperate with other Brokers but reserves the general right to sell the property themselves on an unlimited or restrictive basis without owing a commission. {% endstep %} {% step %} #### ✅ **Limited-Service Listing:** A listing agreement where the Agent may not provide one or more standard fiduciary services (e.g., arranging appointments, presenting offers, advising on price). {% endstep %} {% endstepper %} #### [B. AGREEMENTS ELIGIBLE FOR “COMP ONLY” ENTRY](#b.-agreements-eligible-for-comp-only-entry) The following agreement types do not qualify for immediate open MLS marketing at the outset but may later be entered into the MLS or reported after closing if permitted by these Rules and the seller’s written instructions on the mandatory Office Exclusive Disclosure form. If a property is never entered into the MLS during the active listing term, it may be entered after closing for statistical comparison purposes only (see [**Comparison Only Sales (“COMP ONLY”)**](https://rulebook.bscmls.com/pages/aJ9uVyuBt9rjWl5xYxB3#id-11.1-comparison-only-sales-comp-only)). To remain eligible, the Office Exclusive Disclosure must be submitted within three (3) business days, and the seller must have explicitly selected the applicable “Future MLS Entry” instruction on the form. {% stepper %} {% step %} #### ⚠️ **Single-Party Listing:** A listing agreement where the Seller and Listing Agent agree to facilitate a sale to a specifically identified buyer. Under BSCMLS policy, Single-Party Listings are treated as privately marketed (buyer identified) and must not be entered as “Active.” {% endstep %} {% step %} #### ⚠️ **Office Exclusive Listings:** Listings handled as [**On-MLS Office Exclusive**](/section-6-multiple-listing-options-for-sellers-and-ccp-compliance-nar-policy-8.00.md#on-mls-office-exclusive) are already MLS records and would not later be entered for comparison purposes. Listings handled as [**Off-MLS Office Exclusive**](/section-6-multiple-listing-options-for-sellers-and-ccp-compliance-nar-policy-8.00.md#off-mls-office-exclusive) may later be entered into the MLS during the active listing term if the seller authorized future MLS entry on the Office Exclusive Disclosure and the property has no accepted offers. If the property is never entered into the MLS during the active listing term, it may be entered after closing for statistical credit only if the seller also authorized that option on the Office Exclusive Disclosure. {% endstep %} {% endstepper %} {% hint style="danger" %} **Note:** A valid, seller-signed listing agreement is a prerequisite for COMP ONLY eligibility. For-Sale-By-Owner (FSBO) transactions are not eligible for COMP ONLY entry regardless of whether an Office Exclusive Disclosure is submitted, because no listing agreement exists. See [**Section 4.4 – Prohibited Agreements**](#id-4.4-prohibited-agreements-nar-model-rules) for details. {% endhint %} ### [4.4 – Prohibited Agreements](#id-4.4-prohibited-agreements)🟦NAR Model Rules {% stepper %} {% step %} #### **❌** FSBO / Commission Agreements: The BSCMLS requires a valid listing agreement as a condition of MLS entry — a "one-time showing" or compensation agreement alone is not sufficient. A listing agreement designates a broker who is responsible for the accuracy of the listing data, bound by fiduciary duty to the seller, and accountable to the MLS; a compensation agreement creates none of that accountability. Because a FSBO transaction has no listing agreement and no Office Exclusive Disclosure on file with the BSCMLS, it is not eligible for entry in any form — not as an Active listing and not as a Comp Only sale. The most straightforward path to MLS participation is for the seller to enter into a listing agreement with a licensed broker. {% endstep %} {% step %} #### **❌** Open Listings: Agreements that lack exclusivity (where the seller only pays if that specific broker sells the property) are NOT accepted. While the National Association of REALTORS® no longer mandates the exclusion of open listings, the BSCMLS Board of Directors has elected, as a matter of local MLS policy, to continue excluding open listings from the Service. This policy may be revisited by the Board at any time. {% endstep %} {% step %} #### **❌** Net Listings: Agreements where the commission is the difference between the sale price and a net figure are NOT accepted because NAR policy requires MLSs to exclude them from compilations of current listing information. {% endstep %} {% endstepper %} ### [4.5 – Listing Agreement Validity & Dates](#id-4.5-listing-agreement-validity-and-dates) 🟦NAR Model Rules Listing agreements must be signed by all parties, including the Broker, to be enforceable. The “Listing Date” is a material term of the contract. For MLS purposes, the Listing Date is determined by the latter of two dates: (1) the specific “Beginning Date” written into the contract; OR (2) the date the final signature was obtained from all parties. {% columns %} {% column %} {% hint style="warning" icon="backward" %} **Pre-Dating (Early Marketing):** {% endhint %} If the contract lists Monday as the start date, but signatures are not obtained until Wednesday, Wednesday is the effective Listing Date. Marketing before the listing agreement is valid/effective may violate Montana law because advertising requires a signed listing agreement that is valid as of the date of advertisement. {% endcolumn %} {% column %} {% hint style="warning" icon="forward" %} **Post-Dating (Future Effective Date):** {% endhint %} If a seller signs on Monday, but the contract lists Wednesday as the start date, Wednesday is the Listing Date. The Agent cannot market the property until that date. {% endcolumn %} {% endcolumns %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://rulebook.bscmls.com/section-4-key-mls-concepts-jurisdiction-and-agreements.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.