876 IAC 8-2-1 Listing agreements; prohibition

Sec. 1. (a) All listing agreements or any authority to sell shall show a definite date of expiration and shall be in writing, either on paper or in electronic format, with one (1) copy to go to the owner within three (3) business days of the time of signing, and the original and all electronic files shall be retained in the office of the listing broker. (b) No listing agreements shall be accepted by a broker company or by an associated broker on the broker company's behalf that provides for a net return to the seller, unless said listing agreement provides for a maximum commission to be paid by the seller to the broker company.