Promoting homeownership and professional ethics

PORTLAND METROPOLITAN ASSOCIATION OF REALTORS®

5331 SW Macadam Ave. #207, Portland OR 97239

(503) 228-6595 • fax (503) 228-4170

ARTICLE XVII - MULTIPLE LISTING

Section 1. Authority. For the use of its members, the Portland Metropolitan Association of REALTORS® shall participate in the functioning of the Regional Multiple Listing Service, Inc., an Oregon Corporation (hereinafter referred to as the RMLS™) which shall be a lawful corporation of the state of Oregon, all the stock of which shall be owned by the Association (or corporations, trusts or other entities owned and controlled by it), and the East Metropolitan Association of REALTORS®, and the Clark County Association of REALTORS®.

Section 2. Purpose. The RMLS™ is a means by which authorized Participants make a blanket unilateral offer of cooperation and compensation to other Participants (acting either as subagents, buyer agents, or in any other agency or non-agency capacities defined by law); by which cooperation among participants is enhanced; by which information is accumulated and disseminated to enable authorized Participants to prepare appraisals, analyses, and other valuations of real property for bona fide clients and customers; by which Participants engaging in real estate appraisal contribute to common data bases; and is a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and the public. Entitlement to compensation is determined by the cooperating broker’s performance as a procuring cause of the sale (or lease).

Section 3. Governing Documents. The Board of Directors shall cause any RMLS™ established by it pursuant to this Article to conform its Corporate Charter, Constitution, Bylaws, Rules, Regulations, and Policies, Practices and Procedures at all times to the Constitution, Bylaws, Rules, Regulations and Policies of the National Association of REALTORS®.

Section 4. Participation. Any REALTORS® Member of this or any other Board who is a principal, partner, or corporate officer, or branch manager acting on behalf of the principal, without further qualification, shall be eligible to participate in the RMLS™ upon agreeing in writing to conform to the Rules and Regulations thereof and to pay the costs incidental thereto. However, under no circumstances is any individual or firm, regardless of membership status, entitled to RMLS™ "Membership" and "Participation" unless they hold a current, valid real estate broker's license and are capable of offering and accepting cooperation and compensation to and from other Participants, or are certified or licensed by an appropriate state agency to engage in the appraisal of real property. Use of information developed by or published by the RMLS™ is strictly limited to the activities authorized under a Participant's licensure(s) or certification and unauthorized uses are prohibited. Further, none of the foregoing is intended to convey “Participation”, or "Membership" or any right of access to information developed or published by the RMLS where access to such information is prohibited by law.

Section 5. RMLS™ Directors. The PMAR shall have nine (9) REALTOR® members who shall serve as directors on the RMLS. Directors shall be participants or subscribers to the RMLS™ and shall be appointed by the PMAR President Elect, with approval of the PMAR Board of Directors per established appointment guidelines, and shall serve staggered three (3) year terms.

Section 6. Shareholder Representative. The President shall represent PMAR at the annual RMLS™ Shareholders’ Meeting, and at other Shareholder meetings as may be called from time to time by the RMLS™ or its Shareholders. The RMLS™ shall be required to provide a minimum thirty (30) days advance notice to PMAR of all matters requiring a vote by the Shareholder. Said notice shall include all pertinent documents. The PMAR Board of Directors shall be apprised of and vote on all matters requiring a vote of the Shareholder Representative, and shall give specific voting instructions to said Representative.


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