Did you know there are four different MLS policies found within MLS rule Section 1.2? Take a moment to review Section 1.2.
Section 1.2 is….
- Data on listing should be accurate
- Required to enter Public Remarks
- Required to disclose of listing is Leasehold, CPR, REO, or Short Sale in Public Remarks.
- Require to add a photo of the Subject Property
Section 1.2 Detail on Listings Filed with the Service Any Listing, including all information included on a Listing Input Form, when submitted by the listing broker to RAM for inclusion in the MLS, shall be complete in every detail which is ascertainable as specified on the listing input form (Listing Input Form may be either electronic or on paper). All data shall only be entered into its assigned data field. Public Remarks are mandatory input on all listings, to be included at time of initial data input. Leasehold, Residential CPR, REO, and Short Sale properties shall be noted in Public Remarks.
Failure to input at least one photo/image of Subject Property that accurately depicts listed property (or view from Subject Property).
Data on listing should be accurate – Information used on a listing can come from a variety of sources like Tax Records, Public Record reports, HOA documents, prior listing. Please review each listing before submission to Active to ensure the data is accurate. Common input errors are often found in the Waterfront Description called Across the Street From Ocean, and invalid District Name.
Required to enter Public Remarks – Entering a period or one letter will not satisfy the Public Remarks requirement. A general description of the property will suffice. Please refrain from entering your agent or broker contact info in the Public Remarks. Fair Housing Laws should also be observed in any statements and phrases used in the remarks to promote the listing. If the listing agent is the owner of the property for sale it must also be disclosed in the Public Remarks.
Required to disclose of listing is Leasehold, CPR, REO, or Short Sale in Public Remarks. If the listing falls into one of these 4 disclosures it is required to also disclose this in the Public Remarks. At a minimum, this could be a statement like, “Property is Leasehold, or Listing is Short Sale”.
Require to add a photo of the Subject Property – Each listing will allow up to 30 digital images. None of the photos should contains any watermark or branding that advertises the agent or office. One of the images must include the subject property (front view). When the listing goes Closed or Expired you are allowed to remove all images except the subject property photo.
RAM actively monitors potential violations dealing with Section 1.2, with fines ranging from $25-$500 for a violation. Please contact the RAM MLS office if you have any questions or would like to know more.
The Full RAM MLS rules and regulations can be found here.