By-Laws of The Realtors Association of Jamaica Limited

 
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  1. INTERPRETATION
  2. In these By-Laws, unless the subject or context otherwise requires terms shall have the same meaning as defined in the Articles of Incorporation.
  3. Agent” means a REALTOR® acting in an agency relationship.

    “Board” means the Board of Directors of the REALTORS® Association of Jamaica

    “Business Day” means a day during which banks in Jamaica are open for business.

    “Buyer” means a purchaser or any person who is looking or seeking to purchase property and includes a prospective buyer.

    “By-Laws” means these By-laws and includes any alteration, amendment or addition thereto.

    “Chairman” means chairman of the Board of Directors, except where the context indicates otherwise.

    “Client” means a person or entity with whom a Dealer or Salesman has an agency relationship.

    “Cooperating Dealer” means a Dealer with whom a Cooperating Salesman is associated, and where the context requires the obligations of the Cooperating Dealer shall also be obligations of the Cooperating Salesman.

    “Cooperating REALTOR®” includes both a Cooperating Dealer and a Cooperating Agent.

    “Cooperating Salesman” means a salesman who introduces any Buyer to a MLS Listing of another Member and who is further involved so as to become the procuring cause of sale to that Buyer or Landlord, and where the context requires the obligations of the Cooperating Salesman shall also be obligations of the Cooperating Dealer.

    “Customer” means a party to a real estate transaction who receives information, services or benefits but who has no contractual relationship with a Dealer or Salesman.

    “Dealer” means a real estate dealer registered by the Real Estate Board.

    “Firm” includes both partnership and company.

    “Good Standing” means to be currently up to date with required payment of fees, dues or other amounts liable to be paid to the Association.

    “Listed for Sale” means subject to an MLS Listing.

    “Listing content” includes, but is not limited to, photographs, images, graphics, audio and video recordings, virtual tours, drawings, descriptions, remarks, narratives, pricing

    information, and other details or information related to listed property.

    “Listing Dealer” means a Dealer who has an MLS Listing with a Seller or Landlord, and where the context requires, the obligations of the Listing Dealer shall also be the obligations of the Listing Salesman.

    “Listing REALTOR®” includes both a Listing Dealer and a Listing Salesman.

    “Listing Salesman” means a Salesman who is attached to a Listing Dealer; and where the context requires the obligations of the Listing Salesman shall also be obligations of the Listing Dealer.

    “REALTOR®” means a Professional Member of the REALTOR®  Association of Jamaica and includes both a Dealer and a Salesman.

    “MLS” means the Multiple Listing Service operated by The REALTORS® Association of Jamaica Limited and where the context admits includes the Association in its operation thereof.

    “MLS Listing” is any listing processed through the MLS.

    “Months” means calendar months.

    “Open Listing” means a contractual agreement under which the listing dealer acts as the agent of the seller(s), and the seller(s) agrees to pay a commission to the listing dealer only if the property is sold through the efforts of the listing dealer.

    “Past President” means a person who has served as President in respect of the Association prior to the coming into effect of these By Laws and the title of President, being replaced by that of Chairman.

    “Person” includes an individual and a corporation.

    “Prospect” means a purchaser, seller, tenant or landlord who is not subject to an agency relationship with the member or the member’s firm.

    “REALTOR®” means a Member.

    “Salesman” means a real estate salesman registered by the Real Estate Board.

    “Seller” includes a property owner, or any other person who is legally entitled to sell property or a person seeking to sell property, a vendor or prospective vendor, as the case may be.

    “Sub-commission” means that portion of the commission as stated in the MLS Listing to be paid by the Listing Dealer to the Cooperating Dealer.

    “The Association” means the REALTORS® Association of Jamaica Limited.

  4.          Association of Jamaica Limited.

 


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