MetroTex NEWS

Directors Rescind Franchisor MLS IDX Display Policy

The NAR Board of Directors meeting at the end of the 2011 REALTORS Conference & Expo in Anaheim on Monday voted to rescind a Multiple Listing Service policy on the display of Internet Data Exchange (IDX) listings on franchisors’ Web sites.
 
A work group has been tasked to broaden the policy to address listing displays over mobile devices and via social media (with a broker opt-out option). Listing data sent via RSS (Really Simple syndication) won’t be included because of the difficulty in controlling access to RSS feeds.
 
In other changes to MLS policy, directors took the following actions:
 
Sales price information. Amended the Statement of MLS Policy and the implementing model MLS rules to allow MLSs to require reporting of sale prices by participants. In “non-disclosure states,” if sale prices are provided by the MLS to government agencies and or third-party entities for uses other than those authorized in the amended Policy Statement, sellers may request that their sale price not be provided to such entities.
REOs. Gave MLSs discretionary authority to require listing participants to disclose whether listed property is a foreclosure, bank-owned, or real estate-owned (REO).
 
Lockboxes. Increased from $200 to $300 the maximum security deposit associations and MLSs can require for lockboxes.


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The NAR Board of Directors meeting at the end of the 2011 REALTORS Conference & Expo in Anaheim on Monday voted to rescind a Multiple Listing Service policy on the display of Internet Data Exchange (IDX) listings on franchisors’ Web sites.
 
A work group has been tasked to broaden the policy to address listing displays over mobile devices and via social media (with a broker opt-out option). Listing data sent via RSS (Really Simple syndication) won’t be included because of the difficulty in controlling access to RSS feeds.
 
In other changes to MLS policy, directors took the following actions:
 
Sales price information. Amended the Statement of MLS Policy and the implementing model MLS rules to allow MLSs to require reporting of sale prices by participants. In “non-disclosure states,” if sale prices are provided by the MLS to government agencies and or third-party entities for uses other than those authorized in the amended Policy Statement, sellers may request that their sale price not be provided to such entities.
REOs. Gave MLSs discretionary authority to require listing participants to disclose whether listed property is a foreclosure, bank-owned, or real estate-owned (REO).
 
Lockboxes. Increased from $200 to $300 the maximum security deposit associations and MLSs can require for lockboxes.


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