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MLS Rules Update – August 2019

The MLS Rules Committee and Board of Directors met recently. Below is a summary of the latest rule change and other helpful information from the MLSListings Compliance department:

Every Listing Field Has Its Own “Tip”

Did You Know: If you click on any listing field in the Listing Input application, an associated “Tip” appears in the right column of the page. This time-saving, built-in help tool clearly explains each field’s meaning, what you need to enter, and other useful information to keep you within rules compliance and provide answers to questions you may have.

 

 

 

 

 

 

 

 

 

 

 

 

 

How to Reset Days on Market (DOM)

Sellers or agents may periodically want to “refresh” or reset the accumulated Days on Market (DOM) for a listed property to zero.

Here’s how to relist with zero (0) DOM:

  • Cancel the current agreement, Sign a new agreement
    • (Optional: agents can use private remarks to disclose a new agreement is in place)
  • Then cancel the listing on the MLS
  • Submit exclusion for new agreement
  • Wait 31 days, then relist the property

Note: Withdrawn status will neither reset DOM nor add more DOM.

This reference article explains how DOM works: http://portal.mlslistings.com/help/2011/04/05/dom/

Photo Rule Change – Prohibitions Lifted

The MLS Rules Committee and Board of Directors removed the photo prohibition on using overlays, mosaics, or added text. However, text only images are still forbidden.

Section 7.11.2 Listing Photograph Requirements
Photos or images may not contain added text overlay, text only or be in a mosaic or tiled style (multiple images within one frame). Photos or images with embedded data such as time stamps or floorplans are not prohibited. Images may not contain text only. Images may not contain text only.

The MLS Rules with changes are available here.

 

 

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