rss
0

MLS Rules Change Log as of June, 2018

From most recent to earliest changes. Dates and topics below. The document is available HERE.

June 2018

  •  Section 4 changed to clarify mandatory trainings have a remote option.
  • Section 7.12 changed to prohibit extracting administrative fees from the offer of cooperative compensation
  • Section 7.19.1 added new section to allow broker to claim the sale of a “protected buyer”
  • Section 8.1.1 changed to provide for MLS to backfill sale price after recording
  •  Section 10.2 change to allow comps to be entered when using a Single Party Compensation Agreement for example
  •  Section 12.16 changed to allow “audio delivery” of IDX search results (e.g. Echo, Cortana, etc). changed to require IDX sold data to start from January 1, 2012
  • Section 13 changed lockbox language to match NAR policy changes including lease agreements, deposits and temporary keys

November 2017

  • Section 7.5 changed to require disclosure if additional listing signatories required to sell property.

August 2017

  • Section 7.11.2 changed to add prohibition for text only or tile /mosaic photos
  • Section 7.23 changed to add requirement for using co-listing fields

December 15, 2016

  • Section 7.5 changed 72 hours to list mandatory submission properties to 3 days.
  • Section 7.6 changed 72 hours to submit exclusion, 24 hours to produce documentation, to 3 days to submit and 1 day to produce.
  • Section 7.11.2 changed 72 hours to submit photo on listing to 3 days.
  • Section 7.19 changed time to produce documentation from 24 hours to 1 day.
  • Section 8.2 change time to produce documentation from 24 hours to 1 day.
  • Section 9.1 change “no less than 24 hours” to “no less than 1 day”.
  • Section 9.1.1 change time to show from 3 business days to 3 days.
  • Section 10.2 changed “by end of next business day” to “by end of next day”.
  • Section 10.4 changed “by end of next business day” to “by end of next day”.
  • Section 12.1 changed notification from 24 hours to 1 day.
  • Section 12.20.25 change 24 hours to 1 day.
  • Note: The timing in Sections 10.2 Reporting of Sales & 10.4 Reporting of Cancellation, remain unchanged… “by the end of the next business day”.

March 16, 2016

  • Section 7.9 redefines cancellation to just a withdrawal of listing.
  • Section 7.15.3 defines compliant auction listings.
  • Section 8.3 defines ability of MLS to remove inaccurate listings.
  • Section 11.10 added Indemnification; Limitation of Liability language.
  • Section 12.16 adds “pending” to Modifications and Augmentations rule.
  • Section 12.20.1 adds “non-confidential pending” status to section d.
  • Section 12.20.15 eliminates “pending or do not show” status from section a.

December 21, 2015

June 17, 2015

March 18, 2015

  • Accuracy disclaimers and lockbox rule 13.12 were updated to latest wording from CAR

December 1, 2014

October 31, 2013

  • September 7th, 2013, the Board of Directors passed the following rule change regarding removal of remarks and photos:

    11.8 Database Preservation

July 31, 2013

  • On June 19, 2013, the Board of Directors restored the short sale rule to its previous to March 1, 2013 version.

June 19, 2013

  • Short Sale Rule Modification Recision — Effective 7/31/2013

March 1, 2013

  • Short Sale Rule Modification
  • Photo Rule Change
  • Addition to Broker Participant Definition in Section 4.1.1
  • For better identification of subsections of the IDX rules, descriptions were added
  • Section 13.12 Wording Clarified
  • Enforcement Practice Updates
  • Penalty adjustment on Section 2.3.7

December 21, 2011

  • Lockbox Accessibility

September 28, 2011

  • Listings Requiring Special Disclosure or Identification on the System
  • Government Agency (Federal, State, and Municipal) as Seller

March 16, 2011

  • Lender Approval Listings
  • Showing Access
  • Presence of Participant or Subscriber
  • “MLS Content” Defined
  • Authority to Put Listings in MLS Compilation
  • Database Preservation
  • Removal of Lockbox
  • Correction of Authorized Providers’ Names

July 21, 2010

  • Clerical Users
  • Denied Application
  • Disclosing Existence of Offers
  • IDX Changes from NAR

March 17, 2010

  • Recurring Participation Fee
  • Certification of Nonuse
  • Estate Sale, Probate, Bankruptcy, Lender Approval, Auction and REO/New Subdivision Listings

January 20, 2010

  • Eligibility for Lockbox Privileges
  • Rules Enforcement and Penalties

June 24, 2009

  • Photo Requirements
  • Using Tax Data to Close Listings
  • Court Confirmation Disclosure

April 29, 2009

  • Lockbox Accessibility
  • Lockbox Penalties

January 20, 2009

  • Client or Customer Defined
  • Broker Participant Requirements
  • Lender Approval Listings
  • Failure to Pay MLS Fees; Resignation
  • Violation of MLS Rules
  • Virtual Office Websites (per NAR/DOJ)
  • Eligibility for Lockbox Privileges
  • Lockbox Accessibility
  • Authorized Providers
Share

Comments are closed.