Background Color:
 
Background Pattern:
Reset
Wednesday, July 17, 2019
Search
Motions Approved by Realcomp’s Board of Governors in November 2018
Motions Approved by Realcomp’s Board of Governors in November 2018
And How these Will Impact MLS Procedures for MLS Subscribers

 

During the month of November, your Realcomp Board of Governors reviewed several recommendations that were put forth by Realcomp's MLS User Committee. Based on those suggestions and their discussions, the following MLS Policy improvements were approved:


1. A MOTION was MADE, SECONDED, and CARRIED to require that all listings entered into the Realcomp MLS must have at least one (1) exterior photo.

Commentary: This revised policy applies to all property categories, including that of Vacant Land. For Vacant Land properties, MLS Subscribers may opt to upload an actual photo (i.e. ground-level or aerial shot), a plat map, or a sketch (while abiding by all copyright requirements).

Effective Date: Beginning Tuesday, February 5, 2019, this policy will include all newly listed Vacant Land properties. Having at least one (1) exterior photo is currently required on all other property categories.


2. A MOTION was MADE, SECONDED, and CARRIED to apply the initial fine for failure to upload a primary photo and the appropriate listing or property documents to a new listing at 48 hours and every five (5) days thereafter the required documents or photos have not been uploaded.

Commentary: Primary photos are now required for all listings. Listing documents/disclosures are also required for Residential, Condominium, and Multi-Family property types (with the exceptions of leases and new construction listings). Previously, the repeating fine was applied every seven (7) days on listings without photos and every 10 days on listings without documents.

Effective Date: Beginning Tuesday, February 5, 2018 the new fine schedule will go into effect.


3. A MOTION was MADE, SECONDED, and CARRIED to allow a property to be entered into the MLS as a Residential and a Vacant Land listing with the appropriate disclosures, remarks and references to the other entered listing. In addition, Realcomp has added “Residential Structure” to the Site Description feature group on Vacant Land listings.

Commentary: Previously, MLS Subscribers could only list a property once as either Residential or Vacant Land. This policy modification now allows MLS Subscribers to list a Residential property, that could be torn down in order to build a new structure, under both Residential and Vacant Land at the same time. Additionally, the Residential listing should reference the Vacant Land listing in the remarks section and vice versa. The Residential Structure feature must also be selected and displayed on the Vacant Land version of the listing. This feature is brand new and has not yet been added to Instanet Forms. So, if you are uploading your listings from this program, you will need to edit your listing from RCO3 to include the new feature. Lastly, whichever listing does not sell should be unconditionally withdrawn from the system when the other sells.

Effective Date: Tuesday, January 8, 2019.


4. A MOTION was MADE, SECONDED, and CARRIED to change the current policy regarding garages to allow tandem garages to be considered as two (2) car garages.

Commentary: Previously, garage sizes were determined by the size of the garage door. Now, the size should be determined based on the number of cars the garage can actually hold.

Effective Date: Tuesday, January 8, 2019.


5. A MOTION was MADE, SECONDED, and CARRIED to change the current MLS policy regarding lockbox showings to read as follows: Lockboxes AF. “Lockbox access cannot be given to any other persons other than the individual expressly approved by the seller or listing broker and distribution of this access will subject the subscriber to a fine.

Commentary: Lockbox access, once given to an individual authorized by the seller or listing broker, is not to be shared with anyone else. If an agent makes an appointment to show a listing and cannot make the appointment, he/she should cancel. If an associate of that agent decides to show the property, they should make their own appointment to do so.

Effective Date: Tuesday, January 8, 2019.


Last Modified: Friday, January 4, 2019
January 2019

January 2019

Planning to Show a Property that has a New Sentrilock Electronic Lockbox on It?

Planning to Show a Property that has a New Sentrilock Electronic Lockbox on It?

Realcomp REALTORS’ Usage of LoneWolf’s TransactionDesk Module Rose 9% in 2018

Realcomp REALTORS’ Usage of LoneWolf’s TransactionDesk Module Rose 9% in 2018

Excelerate America’s Next 30-Day Challenge: Email Marketing

Excelerate America’s Next 30-Day Challenge: Email Marketing

Data Sharing through CoreLogic’s Data Co-op Expands to Include the Houston Association of REALTORS® (HAR)

Data Sharing through CoreLogic’s Data Co-op Expands to Include the Houston Association of REALTORS® (HAR)

New WAV Group Study Reveals CRM Usage is Key to Driving Sustainable Broker Profitability

New WAV Group Study Reveals CRM Usage is Key to Driving Sustainable Broker Profitability

December Single-Family Home Sales Statistical Highlights

December Single-Family Home Sales Statistical Highlights

How to Use Images from Google Earth Pro While Complying with their Copyright Requirements

How to Use Images from Google Earth Pro While Complying with their Copyright Requirements

Classic Version of Cloud CMA Retired

Classic Version of Cloud CMA Retired

Important January ELB Updates

Important January 2019 Electronic Lockbox System Updates

RCO3 Upgrade for SentriLock Integration

RCO3 Upgrade for SentriLock Integration

Motions Approved by Realcomp’s Board of Governors in November 2018

Motions Approved by Realcomp’s Board of Governors in November 2018

Economic Forecast 2019: Good, But Not as Good as 2018, by Elliot Eisenberg, President of GraphsandLaughs, LLC

January 2019 Economic Forecast by Elliot Eisenberg, President of GraphsandLaughs, LLC,

Find Your Next Listing with These Geographic Farming Tactics by RETechnology

Find Your Next Listing with These Geographic Farming Tactics by RETechnology

Great Apps Available to Realcomp REALTORS®

Great Apps Available to Realcomp REALTORS

Lonewolf Document Review Broker Tool & Process Improved

Lonewolf Document Review Broker Tool & Process Improved