Motions Recently Approved by the Board of Governors

Motions Approved by the Board of Governors

The following MOTIONS were recently approved by the Realcomp Board of Governors during their August 25, 2017 Board meeting:

1. A MOTION was made, SECONDED and CARRIED to approve an escalating fine (shown below) for listing a property that is already under contract with another broker in the MLS. Additionally, the violation is to be reported to the respective Board/Association for a possible code of ethics violation.

First Occurrence $250
Second Occurrence $1,000
Third Occurrence $5,000 and an appearance before the Rules and Policies Committee. Failure to appear before the Committee may result in a 30-day suspension from the MLS.

2. A MOTION was made, SECONDED and CARRIED to modify the policy regarding personal information in the Public Remarks to state that: “No solicitation or advertising of the agent or brokerage is allowed in either agent or public remarks.”

3. A MOTION was made, SECONDED and CARRIED to modify the policy regarding personal information in the Public Remarks to allow open house information.

4. A MOTION was made, SECONDED and CARRIED to modify the policy regarding personal information in the Public Remarks to allow model hours and remove the reference to “pager numbers.”

5. A MOTION was made, SECONDED and CARRIED to approve a policy stating that when a listing is owned by the listing agent and/or immediate family member, this information must be disclosed in the Public Remarks. Additionally, the Board agreed to add a new option under the Ownership category called “LA/Immed. Family” to the Profile Forms and systems. Lastly, the hover help for the Ownership category should be updated to include an explanation for this choice along with a link to the license law that further explains the requirements for the disclosure.

Once the profile forms and system updates have been implemented, Realcomp will be sure to confirm this with you.

Last Modified: Tuesday, September 5, 2017

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Motions Recently Approved by the Board of Governors

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