Two (2) New MLS Policies Approved; Photos and Re-List DOM Affected

At their March 22nd meeting, your Realcomp Board of Governors approved two (2) motions that we want to make all MLS Subscribers aware of. They were as follows:

  1. No Real Estate Signs in Photos or Virtual Tours: The Board voted to change the current photo policy to state “photos and virtual tours cannot contain any visible real estate signs.”

    Previously, Realcomp’s policy was: “Photos and virtual tours may show the brokerage sign in the yard. However, the sign cannot be the focus of the photo.”Unfortunately, this language left much up to individual interpretation. To remove any ambiguity from the policy, it has been modified to clearly state “no visible real estate signs”.

    This policy modification goes into effect immediately.

  2. Days on Market (DOM) Continues on Re-Lists with Same Brokerage:The Board also voted “to continue the Re-list DOM counter when a listing is re-listed within 30 days by the same brokerage.”

    Currently, the Relist DOM counter continues when a listing is relisted within 30 days by the same agent. However, the newly adopted recommendation means this counter will continue when a listing is re-listed within 30 days by the same brokerage. This recommendation was made to the Board of Governors by the MLS/User Committee in an effort to ensure that the DOM counter reflects an accurate as possible picture.

    This policy improvement will go into effect immediately also.

Need a refresher on Realcomp’s DOM counter?

The DOM is calculated from the list date date to the date the listing reaches an off-market status (i.e., Pending, Unconditionally Withdrawn, Expired, etc.).

Realcomp's Days on Market (DOM) field displays as a three (3) part field (shown at left).

The first part contains a “Y” or “N” and answers the question: “Is this a Re-List?” Has the listing been re-listed within 30 days of a previous listing?

The second part, currently, contains the number of days the property has been with the current agent. When the system programming change is completed to reflect the approved policy change, this will reflect the time it has been with the current brokerage.

The third part contains the number of days the property has been on the market– regardless of being listed by different parties if listed within 30 days of one another.

If you have any questions about Days on Market, please be sure to contact our Customer Care Department at (866) 553-3430.

Last Modified: Thursday, April 12, 2018

April-2018

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During the month of March, Realcomp reached an important milestone in the number of MLS subscriptions; we hit the 15,000 subscribers mark! We couldn’t have done it without you and your participation in this MLS. For that, we sincerely say “THANK YOU” for your business!

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The Down Payment Report - March 2018

In this edition of The Down Payment Report, we cover: First-time homebuyer share falls, Low down payments help Hispanic buyers, Counselors target housing finance agencies, DPR Interview with the program administrator for Maryland’s SmartBuy Program that helps buyers eliminate student debt

Two (2) New MLS Policies Approved; Photos and Re-List DOM Affected

At their March 22nd meeting, your Realcomp Board of Governors approved two (2) motions that we want to make all MLS Subscribers aware of. They were as follows: