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Rules! Forget the Old Saying That Rules Are Meant to Be Broken.

These rules must be followed, of course, and although no one likes rules, they do serve a general purpose of keeping the practice of real estate organized and in alignment with NAR and CAR. .  This rules update is also important because it helps to keep the MLS data timely, accurate and cooperative.

When required, MLSListings amends or updates MLS Rules to adopt changes in N.A.R./C.A.R. policies or California law, as well as for general service improvements.

Here’s a chance to highlight some recent changes to these rules and give you an overall sense of what’s new.  If you would like to read more in-depth on any of these changes, please see the document here.

To stay aligned with NAR, there are some updates regarding their mandates relating to lockbox policy changes, voice enabled searches (Amazon’s Alexa) and increased display of sold data.  See Section 13 and Section 12.16 respectively of the MLS rules.

To similarly stay aligned with CAR, here are some other changes that may interest you:  administrative fees can’t be charged to cooperating compensation; comp only listings have been expanded to allow different sales entries; changes to withholding sale prices; and removal of protection for short sale compensation reduction by lender. See Sections 7.12; 10.2; 8.1.1.; 7.15.2 respectively.

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