Amendments to MLS® Policies
The Board of Directors recently approved amendments to five MLS® policies (see below).
The policies each previously provided for fines to be levied against the listing Brokerage; now the fines are levied to the member.
These amended policies are effective immediately. An updated copy of the MLS® policies will be available on REALTOR Link® soon.
Amended MLS® policies:
Sales
7. Guidelines for Reporting Solds:
The policy/fine for non-reporting of sales per calendar year is as follows: 1st offense a letter will be forwarded to the member if broker loaded by the listing salesperson or their assistant. If broker loaded by an office administrator a letter will be forwarded to the Brokerage; 2nd offense $100 fine, 3rd offense $250 fine; and any 4th and subsequent offenses will be $400 (Power of Sale & Commercial properties excluded until the closing date).
Prior to completion, sale is the required status to be entered for any firm Agreement of Purchase and Sale.
If a property is a Power of Sale and the Power of Sale scheduled allows for redemption, the sale may be reported as conditional until it closes, at which time it can then be reported as firm. Power of Sale and Commercial property sales may be reported after they close.
Miscellaneous
5. No personal contact information relating to the REALTOR® may appear in the REALTOR® remarks section of a listing. If the REALTORS® personal contact information is included, MLS® staff is to remove it and a $50 fine levied to the Member.
Where the seller directs the listing REALTOR® in writing to do so, the seller’s contact information may appear in the REALTOR® only remarks (non-public) section of the listing on the Association’s MLS® system.
6. No personal contact information relating to the REALTOR® with the exception of a direction to visit the REALTOR®’s website to obtain more information may appear in the internet ad copy/public remarks. If the REALTOR’S® personal contact information or specific website address, with the exception of a direction to the REALTOR’S® website, is included, MLS® staff will remove it and a $50 fine be levied to the Member.
11. Any listings entered in error will be deleted from the system, and the Member fined $50.00 for each listing deleted.
17. When any member misses their open house, a letter from the Association will be sent to the Member with a $50 fine.