Many Real Estate Professionals have no idea that there are so many rules and regulations governing the Multiple Listing Service….until you get a Notice of Violation when logging in. At that point you will be frantically trying to fix it before your Broker is notified! Read on to learn how to avoid these ever so common mistakes.
According to California Regional Multiple Listing Service (CRMLS), 85 to 90 percent of all MLS violations fall into the following five categories:
1. Late Entry of Listing
2. No Listing Photo
3. Branded Photo/Virtual Tour
4. Misuse of Public Remarks
5. Inaccurate Information
Let’s take a closer look, shall we? In order to help Real Estate Professionals understand these violations more clearly, Orange County Realtors (OCR) has put together the following tips.
Late Entry of Listing– Enter your listing into the MLS or submit a Listing Exclusion form within two business days after obtaining a valid listing agreement or within two business days after the effective date of the listing agreement, whichever date is later. To learn more about this new form and download it, click here.
No Listing Photo– Add at least one photo of the exterior of the structure within five calendar days of entering a listing into the MLS.
Branded Photo/Virtual Tour– Do not include in any posted image or virtual tour agent, broker, or brokerage names, photos, or logos; phone numbers, website addresses, or email addresses; for sale or for lease signs, billboards, promotional signs, or other advertising material with identifiable information; or images of people, animals, or other items that are not directly related to the listing.
Misuse of Public Remarks– Use the Property Description field only to describe the physical and aesthetic characteristics of the property. Do not include open house hours or information about whether or not the property is occupied.
Inaccurate Information– Double-check your listings to make certain that the information they contain is accurate with regard to the assessor’s parcel number, the square footage, and the number of bedrooms and bathrooms. Make all listing status changes within two business days. Review the Matrix Listing Status Guide.
The good news is that CRMLS will kindly notify you in many cases if you’ve entered something that could cause a violation. OCR also has a helpful class available to members that dives into this exact topic. To view the class schedule click here.
Keep these rules in mind when you are maintaining a listing!
Brittney is an expert Transaction Coordinator and 3rd generation real estate fanatic with over 12 years of transaction experience and a background in file management.
Email Brittney at email@example.com