MLS Compliance, FAQ and Things To Know
Clear Cooperation Policy
MLS Statement 8.0, known as the Clear Cooperation Policy, requires listing brokers in an MLS to submit their listing within one business day of public marketing. MetroTex, with the help of NTREIS, offer the following resources to help you better understand this policy.
Coming Soon Status
The Coming Soon status is intended to assist in compliance with the Clear Cooperation Policy. Here are the key points about the Coming Soon status:
- Coming Soon Status: Extended from 14 to 30 days
- Marketing Allowed: Absolutely! Absolutely! You can put a sign in the yard, post the listing on Facebook, create marketing flyers, and market to your heart’s content!
- Listings on Realtor.com or Zillow?: No, but other brokers/agents in the MLS can now see the property, and you have complied with the Clear Cooperation policy by entering the listing in the MLS. Coming Soon listings are included in property searches and can be sent to clients via MLS emails.
- Showings: No showings are allowed during the Coming Soon status.
Virtual Clarification
NAR Recommendations for Interpreting Terms:
- Virtual Tour: Pre-recorded media (slide show, video, or other media) hosted on a URL and available on demand. Note: NTREIS allows only approved URLs with unbranded videos hosted on web servers under the control of the listing broker or photographer. Videos hosted on YouTube, Vimeo, or other video hosting sites are prohibited.
- Virtual Open House (Broker/Public/Office): A real-time (live) scheduled event conducted virtually via live stream (or similar delivery).
- Virtual Showing: A real-time (live) scheduled property showing conducted virtually via live stream (or similar delivery) for a specific customer or client. Distinction: This is for an identified customer or client and is not an open invitation for others to attend (private showing).
While these are suggested interpretations, variations may exist. These options are expected to persist beyond the current pandemic situation.
Clear Cooperation Policy Q&A
Q: My seller signed a listing agreement requesting that the listing be entered into the MLS. The agreement was signed on April 24th, 2020. I have a “For Sale” sign in the yard. Is my listing agreement grandfathered or exempt since the agreement was signed before May 1st, or do I have to comply with the new Clear Cooperation policy?
A: Your listing agreement is NOT EXEMPT, and YES, you must comply with the Clear Cooperation policy beginning May 1st. You can either take the “For Sale” sign down and cease any further marketing outside your brokerage, OR you can enter the listing into the MLS.
Q: I currently have a listing that is not in the MLS. I have a sign in the yard with a Coming Soon rider. The seller is painting, replacing carpet, staging the property, and taking pictures. What should I do to comply with the new policy?
A: If you place the listing into the MLS under the Coming Soon status, you have complied with the Clear Cooperation policy since listings in the Coming Soon status are shared with all brokers in the MLS.
Q: Can I show my listing while it is in the Coming Soon status?
A: No, the rules have been updated to prohibit showings of listings in the Coming Soon status. If the property is ready for showings, then the listing is no longer “Coming Soon” … it has arrived! The status in the MLS should be changed to Active.
Q: If I do allow my listing that is in the Coming Soon status to be shown, will I be fined?
A: The fines outlined in the newly adopted rules apply to violations of the Clear Cooperation policy. The Coming Soon status helps you to comply with the Clear Cooperation policy but stands alone otherwise. If there is a violation by showing a property during the Coming Soon status, the MLS committee will determine a sanction, possibly through a hearing process.
MLS Compliance FAQ
What is this purpose of this page?
Data integrity is very important at MetroTex. MLS compliance is an essential focus of our services, since compliance with MLS rules ensures that data is current and accurate. To this end, we offer training, phone assistance during office hours and after hours/weekends through our partners Supra and Matrix MLS. Our broker participants rely on us to alert members when data violations occur or if we receive a report that an agent has violated an MLS rule.
How does MetroTex ensure data integrity?
Data integrity is monitored in three essential ways:
- The Listing Data Checker (LDC) system runs all new listings through their system. The LDC uses public records to check the address, county, city, tax ID to make sure all information matches up with the information provided on the listing. The LDC also screens remarks for fair housing violations and other violations of business rules, such as web addresses in the Property Description.
- Reported by Members. MetroTex members may report suspected violations of MLS rules via email to mls@dfwre.com.
- Pending Listings. We proactively monitor listings that have been in the Pending status over 6 months. We also check sales prices to make sure proper information is reported for the sale of the property.
- Accurate Sales Price. We also check sales prices to ensure that proper information is reported for the sale of the property.
What are the MLS rules and Standard Operating Procedures for data integrity at MetroTex?
There’s a process with ample time for members to correct their listings and avoid being fined. The Listing Data Checker (LDC) sends 3 emails to the listing agent and either the broker or manager of the firm. After three email attempts, if the problem is not corrected or explained, we call the listing agent two times. After the two calls, the violation is handed over to the MLS Director for the imposition of fines, which start at $250.00 per violation.
In some cases, such as reports of showing violations, the MLS Director will send the written complaint to the showing agent and their broker. If no resolution is reached, the showing agent will have to appear before a hearing panel of the MLS Committee.
What were the top 10 MLS violations by members in 2022?
Wow, that’s a great question! MetroTex members can really learn from these mistakes and avoid violations like these:
- Failing to make showing appointments
- Photos with contact information
- Failure to report the sale of a property
- Failure to report an accepted contract (status change)
- Failure to provide the correct city for a listing
- Trying to report a sales price of a property as $1.00
- Including contact information in the property description
- Failing to provide actual directions to a property
- Duplication of listings
- Restricting Showings
What learning opportunities are available to enhance MLS compliance and competency?
I love communicating to our members about “unlearning” bad habits and getting on the right path. At MetroTex, we offer MLS training in a wide variety of formats and times per month.
- New member orientation (required)
- Managing Your Listings course
- 8 to 10 hands-on classes each week for members and MLS subscribers as well as for their office administrators. Each class takes about 2-3 hours
- On-site classes at brokerages
- Live webinars
- YouTube videos and blog articles
- The MLS Academy for Professional Success (MAPS) (advanced)
- Check out our online calendar
Is the MLS Academy for Professional Success beneficial?
By attaining the MLS Academy for Professional Success (MAPS) certification, you become an expert on how to navigate the MLS system and stay in compliance so that you can focus your attention on your clients. But there’s a catch. The classes that qualify for MAPS credit typically fill up, so register early!
Are there any mandatory courses for MLS compliance?
No. Here’s the deal. Be proactive about your education. Invest in yourself and your MLS training.
How effective is MetroTex's telephone support for MLS issues?
We handle over 100 calls a day. Members can take advantage of a 90% live answer rate during normal business hours.
If real-time help is not available, you may contact after hours support by clicking here.
Where can members get customer service and support?
Email mls@dfwre.com or call 214-540-2755. At MetroTex, we empower the MLS.