We all know that the MLS has a laundry list of rules and regulations! And a violation of any of them can cost you big $! It’s really important to familiarize yourself with these rules to avoid these unnecessary charges!! Here are a few common mistakes that make it to the top of the violations list:
– Listing an area. Luckily, you can avoid this violation by confirming your address/area through http://caretsmarkettools.epropertydata.com/Viewer . Some cities have multiple areas, so it’s really important to validate it through this website.
– Listing submission. This must be done within 2 business days after all necessary signatures of the seller(s) have been obtained on the listing or at the beginning date of the listing as specified in the contract, whichever is later. If you’re unable to input it within this time frame, you may ask the seller to sign a SELM (Seller Instructions to Exclude Listing From the Multiple Listing Service) to give additional time or completely leave it off the MLS.
– Marketing remarks. This is one of the most commonly misused fields on the MLS. These remarks are only meant to describe the actual property and its condition. It’s common to include agent information, showing information, websites, and no information directed towards real estate agents/brokers. The agent/private remarks field is where these additional items pertaining to the listing can be placed.
Jenny Manukyan is the Transaction Manager here at JohnHart Real Estate, as well as an agent herself. Being the supervisor and "linchpin" in our short sale operations, has endowed Jenny with invaluable knowledge; and here on the JohnHart Gazette she hopes to share that with you all!
