Two (2) weeks ago, Realcomp's Policy Handbook was updated and published to include new and revised MLS policies, which are NOW IN FULL EFFECT. Included were three (3) items that came out of our meeting with the New Construction Focus Group, which met last year and made recommendations for improvements in these areas of MLS policy:

1) Listing Policies and Procedures (pg. 8 of the MLS Policy Handbook PDF): Personal Information - The builder name may be included in the Public Remarks field even if the builder is the listing office (Revised 2013). Previous to this revision, the builder's name was not allowed if it was the same as the listing office.

2) Reporting Pendings and Solds (pg. 10 of the MLS Policy Handbook PDF): Pendings Over 90 Days -New construction and short sale listings may be pending for 180 days before an extension of the pending is necessary due to the additional time these may take to close. (Added 2013). Realcomp's processes for notifying subscribers and fining for New Construction and Short Sale listings still in the "Pending" status will be based on 180 days instead of 90 days.

3) Listing Policies and Procedures (pg. 7 of the MLS Policy Handbook PDF): Photos - New construction listings may show a photo of a model or previous build as an example of what will be/could be built, but must indicate in the title of the photo that these are not actual photos of the current listing. (Added 2013) Note: Once the property has been built, photos of the actual property should be uploaded to replace the 'concept' photos.