MLS New Policies & Fine Structure

To repeat the notice from March, the MLS Board has a new MLS Policies and new fine structure that is going into effect July 1st. The system was changed from tracking fines by the office to instead track them by the individual agent (see last two pages).  This is being done for two main reasons:

(1) it is unfair to larger offices to receive a warning for one infraction when the volume is considerably higher than small offices.

(2) it is our hope to reduce or eliminate fines entirely (we hate to fine!) and this will allow us (and the Designated REALTORS) to identify those individuals that are making repeated mistakes over and over.

Please note:  Two of the fines, “Missing New Exclusive Right to Sell Paperwork” and “Missing Modification to Contract for Expired listings” should go away or be drastically reduced when the MLS implements a mandatory upload of the Exclusive Right to Sell/Modification form when saving the listing (just like your lead paint upload).  You can upload these documents now, but make sure you select “Exclusive Right to Sell [private] from the document list so that no one is able to see it except the MLS Office and the Listing agent/broker.  If you upload your ERTS with the listing data, you will no longer need to email or send the document to the MLS Office (yay!)  

It is our sincere hope that the broker and staff can work together to help educate the agent on the issue so that we can avoid continuing violations in the future!  For your reference, we tracked the issues that Linda fixed during a one month period:

1 month checking the listings & ERTS: 286 Corrections Made

  • No seller or broker date on ERTS: 5
  • No seller or broker initials / signatures on ERTS: 12
  • Entered Wrong Start Date or End Date in MLS: 158
  • Entered Wrong Address in MLS: 7
  • No Seller’s Name in MLS: 3
  • Delayed / Coming Soon Handled Incorrectly/Not submitted: 11
  • Late / No Paperwork: 30
  • Not Showing information in Remarks: 2
  • Agent Info in Remarks: 1
  • No Geocode / Mapping: 20
  • Wrong Price entered in the MLS: 9
  • Lead Paint Issues: 20