MLS Rules have Changed and Effective July 15, 2020
The Board of Directors met on July 15, 2020 to review recommended changes to our MLS Rules. Within this email you will have links to two copies of the rules
- This is the working draft, highlighting all of the proposed changes. Words that are stricken through are being deleted and underlined words is new language.
- This is the final approved version of the rules with all of the changes incorporated, the clean copy of the rules as approved on July 15, 2020.
We offer the following as quick recap of the more important changes that you need to be aware of, but it is extremely important that you take a moment to look at all of the changes:
- 48-hours changed to one-business day: The previous rules gave members 48-hours to complete specific listing maintenance tasks as well as other things. All of the 48-hour requirement times has been changed to one-business day. Which means, if your listing status changes on Friday night at 7:00 pm you have until Monday at mid-night to update your listing, without penalty. This time period exempts all holidays and weekends…again one business day!
- Definitions have been created for each of the listing status types. It is the intent to clear up any confusion as to what each status means, specifically “withdrawn status” so be sure to check it out.
- Listing Manipulation has been revisited with the intent to keep listings from being withdrawn or cancelled and recreated to misleadingly appear as a new listing.
- Contingent and Pending Status’ change section has some revisions you need to know about.
- Directions – you must be specific, clear and concise, you can’t simply say use GPS you must give written instructions to the property.
- Combination Lockbox Codes and Gate and or Confidential Codes – may ONLY appear in “Office Only Remarks” of the listing.
- Showing Instructions – If you DO NOT FOLLOW the listing agents showing instructions there will be a $1,000 fine, which will escalate for future similar violations. So, if the showing instructions say “call listing office” or “showingtime” for appointments, that’s what you better do each and every time you show the property. If your appointment time is 1:00 pm – 2:00 pm that is the time period, you are approved to show the property, that doesn’t mean you can arbitrarily arrive at 3:00 pm. If you are delayed you MUST follow the showing instructions, if that means rescheduling your time, by calling the Listing Office, that’s what you need to do.
- Automatic Fines – Be sure you look over the automatic fine section because some of those fines go as high as $15,000 depending on the severity of the violation.
The MLS Rules and our Code of Ethics are what allow this highly competitive business you work in to share listing information with competitors so that we each can better serve the consumer, the buyers and sellers. Our members consistently tell us that the “lack of professionalism” is their number one complaint and adherence to these rules and our code of ethics is your first step to conducting business in a professional manner. Common curtesy is your second step to professionalism.
If you have any questions with regards to the MLS Rules please don’t hesitate to contact our Association Leadership Team, MLS Committee and/or Board of Directors.
Melissa Goldman, President