Stay on track: Key MLS compliance reminders
Ensure compliance with some of the most common violations of MLS Rules, Regulations and Policies:
- Clear Cooperation: If marketed publicly with a listing agreement, the listing must be published in the MLS within one business day.
- Listing Documents: All listings must have the listing agreement, seller’s disclosure and lead based paint disclosures (if applicable) uploaded within 72 hours excluding holidays and weekends.
- Amendments: All amendments to a listing, (price changes, extensions, cancellations, withdrawals, etc.) are required to be IN WRITING, SIGNED by ALL necessary parties including the listing Broker or Salesperson, and uploaded into the FlexMLS system within seventy-two (72) hours excluding holidays & weekends.
- Listing Statuses: It is mandatory that a listing’s status be changed from active to one of the following within seventy-two (72) hours (excluding holidays & weekends): Pending, Withdrawn (a pause in the contract), Cancelled (early termination of the contract), and Active Contingent.
- In the WMLAR MLS, the “Active Contingent” status can only be used for properties contingent upon the sale and closing of the buyer’s property. Once this contingency is removed, the listing must be updated to “Pending” within 72 hours, excluding holidays and weekends. The specific contingency should be noted in the agent only remarks. If a property has any other type of contingency, it should be marked as “Pending”.
If you have questions, please reach out to Andrea at WMLAR. PH: 616-846-6240 x105
