MLS Listing Status and Policies Update:
During their June meeting, Realcomp’s Board of Governor’s reached a decision to increase the fines for Coming Soon Listing policy violations. Please review the new fines highlighted below:
Failure to comply with the Coming Soon policy may result in the following charges:
| Charges Current |
Current MLS Policy |
New MLS Policy Effective |
| First Occurrence |
$500.00 |
$1,000.00 with requirement for Agent to attend training on Coming Soon rules and notification of fine to Broker. |
| Second Occurrence |
$1,000.00 |
$2,000.00 with requirement for Agent and Broker to attend training on Coming Soon rules. |
| Third Occurrence |
$2,500.00 |
$5,000.00 with requirement for Agent and Broker to attend training on Coming Soon rules. |
In addition, the third occurrence will result in the requirement that the agent appear before the MLS User Committee to explain the continued violation of the policy and possible sanctions to be determined by the MLS User Committee. Also, the information will be forwarded to the appropriate shareholder for review to determine if there has been a violation of the NAR Code of Ethics.
If you have any questions about the new status, please contact Realcomp’s Customer Care Department via email at support@realcomp.com Thank you.