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Posted by MFRMLS Fri, 02 Jun 2006 19:50:00 GMT
Accurate/complete listing data: For failure to enter accurate and complete listing data. No data may be entered in any field except that for which the field is designed.
Posted by MFRMLS Fri, 02 Jun 2006 19:51:00 GMT
Driving Directions: For failure to enter narrative driving directions that include full street names, beginning and ending points and use standard directional designations such as north, south, east and west. Directions may not refer the user to an on-line electronic mapping service, e.g. MapQuest or
Posted by MFRMLS Fri, 02 Jun 2006 19:52:00 GMT
Housing for Older Persons (At the time, the Participant has elected to disclose that property is qualified housing for older persons): For failure to upload the completed notarized “Housing for Older Persons Affidavit Verifying Occupancy and Qualification” immediately at time of listing as an attachment. The affidavit may be found online at: http://www.mfrmls.com/view_pdf.cfm?pdfid=195
Due to the serious nature of this offense under the Fair Housing laws:
1. Violations will result in an automatic fine beginning with the first offense, i.e. with no initial courtesy warning letter.
2. The fine will be $500 for each occurrence for the first three violations within one year.
3. A fourth violation within one year will require the Participant/User to appear for a hearing before the Board of Directors at which additional sanctions may be imposed.
Posted by MFRMLS Fri, 02 Jun 2006 19:53:00 GMT
K. Status Changes: For failure to report a status change within two business days after all necessary signatures have been obtained. Should a Participant discover that a change in status has not been reported prior to a fine being issued, the error may be corrected, however the
Posted by MFRMLS Fri, 02 Jun 2006 19:54:00 GMT
Late Listing: For failure to file a residential listing or long term rental listing with Service within two business days after all necessary signatures have been obtained.
Posted by MFRMLS Fri, 02 Jun 2006 19:58:00 GMT
Failure to Respond: For failure to correct listing inaccuracies or enter missing information within five business days of notification or failure to provide copies of documents within two business days when requested by the
Posted by MFRMLS Fri, 02 Jun 2006 20:00:00 GMT
Type of Listing/Special Listing Type: For failure to disclose a Limited Service,
Posted by MFRMLS Fri, 02 Jun 2006 20:02:00 GMT
Solds/Non-Members: For failure to provide a complete HUD statement for all sales of Participant’s listings in MFR
Posted by MFRMLS Fri, 27 Jul 2007 18:33:00 GMT
Listing Manipulation: For inactivating a listing through a change of status and then reactivating it to make it appear new. Note: The only valid reasons for changing a listing number is the execution of a new listing agreement by a new agent/new company 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.
Posted by MFRMLS Fri, 27 Jul 2007 18:36:00 GMT
Range Priced Listings: For failure to advertise a Range Priced Listing correctly. The property must be marked as “Range Priced” in the appropriate block of the
“Range Priced - Seller will consider offer between $X (insert dollar amount) and $Y (insert dollar amount), with $Y being considered full list price.”
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 Tue, 12 Aug 2008 21:39:00 GMT
Short Sale Disclosure: For failure to disclose the approved short sale verbiage in both the REALTOR® Only Remarks and the Public Remarks and by selecting “Short Sale” in the REALTOR® Info field.
Posted by MFRMLS Fri, 27 Jul 2007 18:41:00 GMT
S. REO/Bank Owned Disclosure: For failure to disclose that a listing is REO/Bank Owned under the “Special Sale Provision” Field.
Posted by MFRMLS Fri, 27 Jul 2007 18:43:00 GMT
T. Attachments: For failure remove attachments to listings that are not in compliance with our rules and regulations.
Posted by MFRMLS Fri, 27 Jul 2007 18:45:00 GMT
U. HUD Listings: For failure to identify in Realtor Remarks and include information that cooperating broker must be registered with HUD.
Posted by MFRMLS Fri, 27 Jul 2007 18:46:00 GMT
V. Incorrect/Incomplete: For providing incorrect or incomplete information or for failing to correct the information after a fine has been paid. The Participant will be assessed an additional fine of $500 for each occurrence.
Posted by Carole Burgess Fri, 30 Oct 2009 18:57:00 GMT
Violations of Subsections “V” through “Z” are considered to have the most serious effect on overall database accuracy and are automatic in the amounts indicated with no courtesy notification.
W. Failure to Obtain Owner(s) of record Signature: For failure to obtain the owner(s) of record signature on a change in status, price change, extension, or change in terms, the Participant will be assessed a fine of $500 for each occurrence. In lieu of the owner’s signature, acceptable documentation would include a faxed authorization or an email authorization with an electronic signature from the owner.
Posted by Carole Burgess Fri, 30 Oct 2009 19:06:00 GMT
Violations of Subsections “V” through “Z” are considered to have the most serious effect on overall database accuracy and are automatic in the amounts indicated with no courtesy notification.
X. Required Signatures: For failure to have all required signatures of the owner(s) of record at the time the property was entered in the Service, the Participant shall be assessed a fine up to $2,500 as determined by the Board of Directors for each occurrence.
Posted by Carole Burgess Fri, 30 Oct 2009 19:55:00 GMT
Violations of Subsections “V” through “Z” are considered to have the most serious effect on overall database accuracy and are automatic in the amounts indicated with no courtesy notification.
Y. Unauthorized Access: A fine of up to $5,000 as determined by the Board of Directors for each occurrence will be assessed against any Participant/User found to have allowed or provided access to the MFR
Posted by Carole Burgess Fri, 30 Oct 2009 19:56:00 GMT
Violations of Subsections “V” through “Z” are considered to have the most serious effect on overall database accuracy and are automatic in the amounts indicated with no courtesy notification.
Z. Showing Instructions: Failure to abide by showing instructions will result in an automatic fine based on the current progressive fine schedule. No courtesy or warning notices will be issued. Note: MFR does not enforce lockbox system rules and regulations issued by local associations/boards.
Posted by MFRMLS Sat, 17 Feb 2007 23:58:00 GMT
Section 8. Fees and Other Charges: Fees are set by the MFR
A. Participant Application Fee: An Application Fee of $200.00 will be charged to any shareholder member broker or non-member broker joining as a Participant.
B. Participant Reinstatement Fee: A Reinstatement Fee of $200.00 will be charged upon reapplication to any Participant suspended or terminated for non-payment of fees or charges or who terminates their membership. All past due invoices must be brought current before reinstatement will be considered.
C. User Application Fee: An Application Fee of $75.00 will be charged to any shareholder user. This fee doesn’t apply to any Participant paying the Application fee to join.
D. Annual Participation Fee: An annual Participation Fee is assessed to Participants and non-member (“Thompson broker”) Participants based on the number of licensed salespersons, licensed or certified appraisers and broker salespersons who have access to and use of the Service, whether licensed as a broker, salesperson or a licensed or certified appraiser, and who are employed by, or affiliated as an independent contractor with, the Participant.
1. Direct User Billing: As a courtesy to Participants, Users licensed with them are billed directly for that portion of the Participant’s Annual Participation Fee attributable to them. However, Participants are ultimately responsible for payment of the total fee.
2. Due Date: Annual Participation Fees are due by close of business on June 15th each year. Participants or Users whose payments are received after this date will incur a $50.00 late fee for payments received June 16-June 30. Any payments received after June 30, will incur an additional $50.00 reactivation fee and
3. Suspension of Service to Participants/Users: Participants and/or their Users who fail to pay by the June 15th Due Date will have their individual services suspended on July 1. The account will remain suspended until their portion of the Participation Fees, Late Fees and reactivation fees are paid.
4. Termination of Participant: Failure of the Participant to ensure payment of the total Participation Fee and any Late Fees within 45 days after the due date will result in termination of the Participant’s membership and the immediate termination of service for the Participant and all Users in the Participant’s firm, including the Participant and any Users who may have paid their individual portion of the total fee. Participants terminated for non-payment may regain membership by settling any outstanding fees or charges and paying the Reinstatement Fee shown in Section 8B above.
E. Miscellaneous Fees: These are any charges other than Annual Participation Fees such as fines, account activation fees, convenience fees, personal assistant access fees, ancillary service fees, late payment surcharges or any other fees charged to a Participant or User as set by the Board of Directors.
1. Late Payment Penalties: Failure to pay miscellaneous charges by the due date shall result in a one-time ten percent surcharge and suspension of the individual’s service once the account is 30 days past-due until the account is brought current.
2. Termination for Non-Payment: Failure of the Participant to ensure payment of the original miscellaneous fee invoices and/or surcharges within 45 days of the due date shall result in the Participant and all Users in Participant’s firm being terminated. The Participant is responsible for payment of all fees for Users in their firm.
F. Ancillary Service Fees: Fees and charges for additional, optional or ancillary
Posted by MFRMLS Mon, 05 Jun 2006 16:50:00 GMT
ARTICLE 4 - LISTING PROCEDURES
Section 1. Submission of Listings. Participant’s listings of real or personal property of the types shown in below which are located in the counties of MFR’s service area shall be submitted to the MFR
· Single family homes for sale or exchange;
· Condominiums, co-ops and townhouses for sale or exchange;
· Vacant residential lots or parcels for sale or exchange;
· Mobile homes with land for sale or exchange;
· Duplexes, triplexes or quadruplexes for sale or exchange;
· Long Term rental units (more than 6 months)
· Properties outside MFR’s service area will not be required.
All new listings will be automatically placed in “PH” status and will not show as active until one front exterior photo or rendering, aerial photo or water view from property (unit) is added in the 1st slot of MLXchange. Once a photo is present, the system will automatically move the listing to “Active” status. Listings in a “PH” status will be purged out after seven business days from the entry date.
Posted by MFRMLS Fri, 27 Jul 2007 19:11:00 GMT
A. Sold Data/Entry Only: These entries are optional; however Participants must adhere to the following guidelines.
· Sales must loaded within 30 days of the closing date.
· Must upload one front exterior photo.
Posted by MFRMLS Fri, 27 Jul 2007 19:14:00 GMT
Posted by jcohen Wed, 06 Feb 2008 19:49:00 GMT
C. Short Sale Listings: In instances where the listing broker becomes aware that the sale price may be insufficient to pay the total of all liens and costs of sale and the owner(s) of record may not be able to bring sufficient liquid assets to the closing to cure all deficiencies (the Potential Short Sale Circumstance), the listing broker shall :
1. Written Consent. Obtain owner(s) of record informed written consent (in either the listing agreement or an addendum thereto) to disclose the potential short sale circumstance to cooperating brokers, buyers and the public;
2. Disclosure Options. Clearly and promptly disclose the potential short sale circumstance to all cooperating brokers and, when and if appropriate, disclose that the sale of the listed property may be conditioned upon the approval of a court, a lender, or other third party. Such disclosures may occur at any time, but it is suggested they occur at the time of
a) OPTION
“Short Sale”
b) OPTION TWO: If the listing Broker DOES want to bind the cooperating Broker to be obligated to accept a reduced commission amount as determined by owner(s) of record lender(s), the following remarks must be placed as the first words in the public remarks:
“Short Sale”
And the following remarks must be placed as the first words in the Realtor Only Remarks:
“Short Sale; approval of the owner(s) of record lenders(s) may be conditioned upon the gross commission being reduced, any reduction of the gross compensation will be apportioned (insert apportionment or split) between listing and cooperating brokers.
Important Note:
Note: if the listing broker elects not to disclose to a cooperating broker how any reduction in the gross commission will be apportioned between the brokers, then the listing broker will be obligated to pay the cooperating broker the compensation stated in the listing. Timely disclosure of the manner of apportionment of any commission reduction may be made by either placing the disclosure in the listing or providing the disclosure to the cooperating broker prior to the cooperating broker producing an offer of purchase.
c) Disclosure in Special Sale Provision Field is required and you must select “Short Sale” in the designated field.
3. Commission Apportionment Disclosure. if the listing broker elects not to disclose to a cooperating broker how any reduction in the gross commission will be apportioned between the brokers, then the listing broker will be obligated to pay the cooperating broker the compensation stated in the listing. Timely disclosure of the manner of apportionment of any commission reduction may be made by either placing the disclosure in the listing or providing the disclosure to the cooperating broker prior to the cooperating broker producing an offer of purchase.
4. Commission Adjustment. An offer of compensation to cooperating brokers in a potential short sale circumstance which states that it may be adjusted by a third party after execution of a contract for sale and purchase, is an allowed exception to the general rule that offers of compensation must be unconditional.
5. Compensation Offers. Other than as permitted in Section 1.(C)(2) Compensation may not be discussed in any field other than the designated “Compensation” field. Compensation must be listed as a dollar amount, a percentage, or a combination of both.
6. Third Party Approval. Contracts subject to approval by a court, lender or other third party must be reported as “Pending” consistent with Article 4 Section 15 of these Rules.
Posted by Carole Burgess Fri, 30 Oct 2009 18:12:00 GMT
D. Reporting Sales to the Service: Status changes, including final closing of sales, shall be reported to the Multiple Listing Service by the listing broker within two business days after they have occurred. If negotiations were carried on under Section 5.1, the cooperating broker shall report accepted offers (i.e. fully executed contracts) to the listing broker within one business day after occurrence and the listing broker shall report them to the
