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Posted by MFRMLS Mon, 05 Jun 2006 20:50:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 1: All Listings Subject To Rules and Regulations. Any listing filed with MFRMLS is subject to rules and regulations of MFRMLS within two business days, excluding weekends and federally recognized holidays, upon the latter of a) the dated signature of the owner(s) of record or b) the beginning date on the Listing Agreement.
Posted by MFRMLS Mon, 05 Jun 2006 20:53:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 2: Required Signatures on Listings and Changes.
A. The signature(s) of all property owner(s) of record must be on the listing agreement and other required forms at the time the property is entered into the MLS. The penalty for non-compliance is outlined in the Automatic Fine Schedule, Level II (See Article 11/Section 4C).
B. The signature(s) of all property owner(s) of record must be included on all changes in status, price changes, listing extensions and/or changes in terms. In lieu of the owner’s signature(s), acceptable documentation would include a faxed authorization or an email authorization with an electronic signature from the owner(s). The penalty for non-compliance is outlined in the Automatic Fine Schedule, Level II (See Article 11/Section 4C).
Posted by MFRMLS Mon, 05 Jun 2006 20:55:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 3: Listing Price Specified. The full listing price as stated in the listing contract must be indicated in the appropriate block of the MLS data form. See "Range Pricing" for exceptions.
Posted by MFRMLS Mon, 05 Jun 2006 20:56:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 4: Range Priced Listings. Range Priced listings may be entered into the MLS by
A. Selecting “Range Priced” in the appropriate field.
B. Including a notation of the price range in which the owner(s) of record will consider offers in the first line of the Public Remarks as follows: “Range Priced – Owner(s) of record will consider offer between $X (insert dollar amount) and $Y (insert dollar amount), with $Y being considered full list price."
C. The list price must be the high price shown in the range and low price must be the low price shown in the range.
Posted by MFRMLS Mon, 05 Jun 2006 20:58:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 5: Listing Content and Virtual Tours.
A. At least one front exterior photo or rendering, aerial photo, or water view from the property (unit) must be loaded before a listing will be active. The front exterior photo or rendering must be entered in the 1st photo slot of the listing on all property types unless the 1st slot is an aerial photo or an exterior photo of a water view from the property (unit), in which case the front exterior photo must be in the 2nd slot.
i. The sellers’ have the ability to withhold photographs from the MLS after written authorization is provided to the listing Broker/Agent and then supplied to the MFR’s administration department. A logo will be added when written authorization is received that states “Photo not available per seller’s direction”. (Adopted 6/2011)
B. The only exception is vacant land listings which must have a photo or an aerial photo, rendering, site plot or plat map in the listing’s 1st photo slot. Photographs, images, virtual tours and/or renderings submitted by a Participant or Subscriber shall not be copied by other Participants or Subscribers for use in a subsequent listing of the same property without first obtaining a proper license the owner of such photographs, virtual tour or renderings. Images not licensed or purchased by the listing broker/agent will result in an automatic fine as outlined in the Automatic Fines Schedule, Level I (See Article 11/Section 4C).
C. There must be at least one front exterior photo, rendering, aerial photo or water view photo on loaded on each listing before it will be released into “Active” status. Front exterior photos must show a majority of the total home/building and the broker’s yard signage may not be visible in the photo/image. The penalty for non-compliance is outlined in the Automatic Fines Schedule, Level I (See Article 11/Section 4C).
D. Photos, images or virtual tours may not contain company or agent logos, agent photos, commissions, bonuses, contact information for the agent or office, text, or graphics of any kind (with the exception of the MFRMLS watermark) in the virtual tour or photo sections. Only photographs, site plot, property sketch, property line art or survey of the property can be entered in the virtual tour and all photo fields. All content including remarks, virtual tour photos and images must be owned, purchased or licensed by the listing broker/agent, from the content owner. Third-party virtual tour vendor’s contact information (non-interactive) is the only contact information allowed on Virtual Tours. The virtual tour link must be a valid URL and may not contain any Participant/Subscriber names or links to any third party business or social networking sites. The penalty for non-compliance is outlined in the Automatic Fines Schedule, Level I (See Article 11/Section 4C).
E. Upon MFRMLS receipt of a Digital Millennium Copyright Act (DMCA) takedown notice for a violation on a website URL that is owned by a MLS Participant/Subscriber, MLS staff has the authority to remove the alleged infringing material outlined in the takedown notice from the MLS Listing Content within 2 days excluding weekends and federally recognized holidays. The listing agent and listing broker will be notified via the email address on file. The penalty for uploading content that causes another Participant/Subscriber to receive a DMCA takedown notification is outlined in the Automatic Fine Schedule, Level II (See Article 11/Section 4C).
Posted by MFRMLS Mon, 05 Jun 2006 21:00:00 GMT
ARTICLE 4 – RULES and REGULATIONS
F. All listing remarks must be in compliance with State and Federal law in all matters relating to the advertisement and sale of real property.
Posted by MFRMLS Mon, 05 Jun 2006 21:01:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 7: Duplicate Listings. MFRMLS will accept only one listing per Tax ID number per property type classification. Properties may not be listed more than one time, for example entered separately as a “three bedroom” listing and as a “four bedroom” listing or entered once in each of two different subdivisions, in more than one city, county, zip code, property style, etc. If appropriate, a property can be listed in more than one property type classification.
Reporting Requirements: All duplicate listings must be maintained concurrently. If the property sells, the closing must be reported on only one ML#. Any additional listings must then be withdrawn. Failure to do so will result in an automatic fine as outlined in the Automatic Fine Schedule, Level I (See Article 11/Section 4C).
Posted by MFRMLS Mon, 05 Jun 2006 21:02:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 8: Listing Properties/Parcels that may be sold together or separately.
A. Properties that may be sold together or separately may be entered individually and as a package. Individual portions of the property may be listed in the appropriate property class but not in multiple property styles; additionally, the full package listing may only be entered in one property class. The public remarks must note that the property can be sold individually or as a package, with other ML#’s, addresses and parcel IDs being noted in the Realtor Only Remarks.
Reporting Requirements: If the property sells as a full package, the individual listings must be withdrawn; if one or more of the individual properties sell, the closing must be reported on the individual ML#, and the package listing revised to include remaining properties or be withdrawn. Failure to do so will result in an automatic fine as outlined in the Automatic Fine Schedule, Level I (See Article 11/Section 4C).
B. Properties/Parcels that may only be sold as a package. Multiple Properties/parcels that can only be sold as a package may not be listed individually in the MLS. They may, however, be entered as a package into more than one property class. The Public Remarks must indicate that the property can only be sold as a package with the other properties specified and must include all related addresses. In addition, all related addresses and parcel Id’s must be included in the Realtor Only Remarks.
Reporting Requirements: When the listing package is sold, the closing may only be reported through one ML#; any remaining listings in other property classes must be withdrawn. Failure to do so will result in an automatic fine as outlined in the Automatic Fine Schedule, Level II (See Article 11/Section 4C).
Posted by MFRMLS Mon, 05 Jun 2006 21:04:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 9: Tax ID. Listings must have the correct Tax ID number and/or format. The penalty for non-compliance is outlined in the General Fine Schedule (See Article 11/Section 4B).
Posted by MFRMLS Mon, 05 Jun 2006 21:06:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 10: Map. The subject property’s location on the MLS map must be correct and if missing must add.
Posted by MFRMLS Mon, 05 Jun 2006 21:08:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 11: Calling/Access Codes. For security purposes, the following information may only be published in the instructions section of the secure ShowingAssist program provided by the MLS: combination lockbox codes, security gate codes, security system alarm codes or any other codes for equipment or systems designed to ensure the security of the property.
Posted by MFRMLS Mon, 05 Jun 2006 21:09:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 12: Listings Not Available For Showing: Because MFRMLS exists to facilitate cooperation by Participants in the showing and sale of each other’s listings:
Except those properties under auction terms and properties deemed unsafe with explanatory documentation uploaded as an attachment upon listing entry:
A. Listings may not be entered as Active prior to being available for actual showings by all Participants/Subscribers. For example: MFRMLS will not accept listings with “No showings until MM-DD”.
B. Active Listings that become temporarily unavailable for showing by other Participants for any reason whatsoever must be changed to “TOM” (Temporary Off Market) status within two days excluding weekends and federally recognized holidays and will expire automatically on the Expiration Date unless reactivated in the interim. The penalty for non-compliance of A or B is outlined in the Automatic Fine Schedule, Level II (See Article 11/Section 4C).
C. Unless written permission is obtained from the listing agent/broker or included in the listing, A fine will be imposed to any Participant/User contacting owner(s) of record when their listings are in an on market (ACT, PNC, TOM) status as outlined in the Automatic Fine Schedule, Level III (See Article 11/Section 4C).
Posted by MFRMLS Mon, 05 Jun 2006 21:11:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 14: Short Sales. Short Sales must be disclosed in the “Special Sale Provision” field by selecting “Short Sale” in addition to remarks requirements above. See Article 5, Section 1C for further disclosures regarding compensation on Short Sales.
Posted by MFRMLS Mon, 05 Jun 2006 21:12:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 15: Listing Manipulation. Listing must reflect the correct status at all times and may not be inactivated through a change of status and then be reactivated to cause the listing to appear as new. The only valid reasons for changing a listing number is the execution of a new listing agreement by a new office or the execution of a new listing agreement on a property by the same brokerage which is dated at least 30 days after expiration or withdrawal of the prior agreement. The system’s CDOM (Cumulative Days on Market) will reset to zero after 60 days off the market. The penalty for non-compliance is outlined in the Automatic Fine Schedule, Level II (See Article 11/Section 4C).
Posted by MFRMLS Mon, 05 Jun 2006 21:16:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 16: Housing for Older Persons. Disclosure of qualified housing for older persons in the MLS database is mandatory. Any listing otherwise eligible for dissemination in the MLS database that is located within a community that is “qualified housing for older persons” under the Fair Housing Act, and thus may lawfully limit occupancy to such older persons (e.g. an "over- 55” or “over-62” community), must also include a statement specifically disclosing such restriction in any remarks section of the listing.
B. Select the appropriate age category ("55 and Over" or "62 and Over") under the “Housing for Older Persons” menu in the Listing Maintenance program. The property may be described as being qualified housing for older persons in any of the “Remarks” sections (optional). The penalty for non-compliance is outlined in the General Fine Schedule (See Article 11/Section 4B).
C. The Participant’s submission of a listing to the MLS database that is subject to a restriction on the age of the occupants of the property shall constitute the Participant’s commitment to defend, indemnify, and hold harmless the MLS against any claim that the MLS, by including such remarks, has violated any local, state, or federal laws that prohibit discrimination against families with children, or on the basis of age. The penalty for non-compliance is outlined in the General Fine Schedule (See Article 11/Section 4B).
Posted by MFRMLS Mon, 05 Jun 2006 21:18:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 18: REO/Bank Owned Disclosure. REO/Bank Owned properties must be noted in the “Special Sale Provision” Field.
Posted by MFRMLS Mon, 05 Jun 2006 21:20:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 19: In-Foreclosure and Pre-Foreclosure. Before selecting In-Foreclosure or Pre-Foreclosure in the Realtor Info Confidential field or noting in Remarks, it is highly recommended that the listing participant obtain written consent from the owner(s) of record.
Posted by MFRMLS Mon, 05 Jun 2006 21:21:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 20: Type of Listing/Special Listing Type. Limited Service, MLS Only, Exclusive Agency Listings, or a Variable Rate commission arrangement must be disclosed in the proper field.
Posted by MFRMLS Mon, 05 Jun 2006 21:23:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 21: Pre-Construction Homes. Pre-construction homes may be listed under the Residential property type under the following conditions:
A. The list price must include the price of the residential structure and the lot.
B. Pre-construction must be selected from the Construction Status field.
C. The first words in the Public Remarks field must say “Pre-Construction. To be built.”
D. The first photo must be an image of the model offered or an artist rendering. If the image is different from the actual model, disclosure must be made in the Public and Realtor Only Remarks.
E. The Realtor Remarks must include a breakdown of when the commissions are to be paid.
F. If there is no contractual agreement in place between the seller listing vacant land and a builder that grants the builder an interest in the property, the listing may not be entered.
Pre-construction Definition: The listing is for a specific lot with a specific structure that could be built for a specific list price however construction has not begun. (Updated 11/2015)
Posted by Connie Mon, 21 Sep 2015 17:20:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 22: Under Construction Homes. Under construction homes may be listed under the Residential property type under the following conditions:
A. The list price must include the price of the residential structure and lot.
B. Under Construction must be selected from the Construction Status field.
C. The first words in the Public Remarks field must say "Under Construction."
D. The first photo must be an image of the model offered or an artist rendering. If the image is different from the actual model, disclosure must be made in the Public and Realtor Only Remarks.
E. The Builder Name and License Number are required in Realtor Only Remarks.
F. A floorplan representing the finished structure is recommended to be uploaded as an attachment.
Under Construction Definition: The listing is for a specific lot and specific structure where ground has broken but construction is not complete and a Certificate of Occupancy has not been issued. (Adopted 11/2015
Posted by MFRMLS Mon, 05 Jun 2006 21:24:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 23: Solds/Non-Members. Sale of a property listed by a non-MFR member Participant within the MFRMLS service area or by an out-of-area broker must reported in accordance with the rules and regulations by submitting a status change form to the MLS for validation and reporting.
Posted by MFRMLS Mon, 05 Jun 2006 21:25:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 24: Attachments. Attachments to listings must be in compliance with MLS Rules and Regulations.
Posted by MFRMLS Mon, 05 Jun 2006 21:26:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 25: Showing Instructions. Cooperating Participant/Subscribers must contact the Listing Participant to arrange appointments to show listed property, even if the property has a lockbox affixed to it unless the Listing Participant has given specific written permission to show the property without first contacting them. Note: Lockboxes are a service of the MFRMLS shareholder Associations/Boards.
Posted by MFRMLS Mon, 05 Jun 2006 21:28:00 GMT
ARTICLE 4 – RULES and REGULATIONS
Section 26: Incorrect/Incomplete Information. In addition to the specific rules included in Article 4, all listings must be complete and accurate. The penalty for non-compliance is outlined in the General Fine Schedule (See Article 11/Section 4B).
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