Clear_Cooperation

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Rules_and_Regulations

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Admin_Rules

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Photo_Rules

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 MLS Fines


 Fines will be assessed to the Participant for failure to abide by the MLS Rules and Regulations.

 The amount of the fine, as established (and amended) by the MLS Board of Directors, shall be assessed based upon the severity and frequency of the offense.


 Minor Offense ($25 fine):

 

  1. Real Estate Sign in photo
  2. No photo on Residential or Attached listings within 6 days, except where the seller expressly directs that photographs of their property not appear in MLS compilations.
  3. No completion date for new construction stated in MLS compilation
  4. Failure to change “UC” (under construction) to “New”
  5. Failure to provide documentation within 3 business days when requested
  6. Failure to report a change of status within time frame
  7. Providing incorrect information to database (example: parcel ID, city, address, etc.)
  8. Failure to withdraw a duplicate listing:
    a. Same Broker – failure to withdraw duplicate after closing
    b. Different Broker – failure to withdraw after notification by MLS
  9. Error in dating contingencies, pendings, solds (such as pre-dating)
  10. False reporting of selling office/agent/price
  11. Placing marketing/contact information in public areas such as directions or public remarks
  12. Keeping a listing Active with Back-up Offers in Public Remarks (first right of refusal is OK)
  13. Keeping a listing Active with Back-up Offer in Directions
  14. Making a listing Active with No Showings in Public Remarks
  15. Making a listing Active with No Showings in Directions
  16. Combination/Gate Code in Public Remarks or Directions
  17. Short Sale listings must have disclosure in Private Remarks/Public Remarks
  18. Occupant’s Contact Telephone numbers cannot be the same as any numbers listed for Agent or Agent’s firm
  19. In instances where a listing is marked Pending or Contingent, and 180 days has elapsed after the contract date
  20. Contact information/branding in Virtual Tours
  21.  Failure to post a commission as a dollar or percentage amount
  22. Failure to have letter from seller stating they do not want the co-op broker present at time of offer
  23. Failure to have letter from purchaser stating they do not want listing broker present at the time of counter offer
  24. Invalid address field
  25. Directions must include a starting point and be 25 characters or more



 Major Offense ($50 fine):
 

  1. Failure to correct information on a listing after a warning/fine has been assessed
  2. Failure to have seller’s signature on listing contract, extensions, price change, withdrawal, change of terms, etc.
  3. Failure to disclose a listing as limited service or MLS only
  4. Failure to disclose variable rate or dual rate commission arrangement
  5. Failure to provide the MLS with documentation within 5 days when requested by MLS (after #5 above)
  6. Placing an open/net listing in the MLS
  7. Adding a listing late (will send a warning email first time; second time automatic $50.00 fine)
  8. Falsely extending a listing

       

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