Easy Compliance Checklist
Almost all OneKey MLS fines would disappear if agents would comply with these simple rules!
- Enter a listing within 2 days of the listing effective date. (501.1)
- Enter at least one photo within 5 days of entering the listing and must include at least one front exterior photo. A photo is required regardless of listing status including temporarily off market, sold, cancelled, or expired. You may not use the photo of another Participant. Once closed, first photo should be front exterior. (501.12 & 14)
- Property Description is for description purposes only, similar to what would be in an ad. Do not include contact info such as names, phone numbers, website or email addresses, links to virtual tours. No status information, showing instructions, offer procedures, property addresses, open houses, mortgage requirements, listing status, broker compensation or any other notation intended for agents (use Broker Remarks for that). (501.13)
- Data field may only contain information which pertains to that particular field. Floor Plans may only contain rooms or appliances on each floor, Section/Area is for the neighborhood where property is located, Handicap Description only to describe features which make property handicap accessible, etc. (602.3)
Listing Maintenance (changes)
- All price changes, extensions, compensation changes, withdrawals, or releases of any listing contract must be in writing signed by the person(s) authorized to sell the property and must be entered into the data base within 48 hours after the effective date of such change. (605.1)
- Contract and closing reports must be entered into the data base within 48 hours of contract signing by all parties or of the closing and include the purchaser’s last name and town moved from unless prohibited by written instructions from the purchaser. (801.2)
- Change listing to temporarily off market (TOM) if unable to be shown for 3 or more days, but less than 10. If the listing is to be TOM for longer than 10 days, it must be withdrawn from the market. (605.11)
- Participants are obligated to assist other Participants with respect to the showing of a listed property, give accurate status and to allow for constant and timely access. (302.1 & 501.21)
- The MLS Board of Directors interprets this as meaning that calls by cooperating brokers to show properties must be responded to within 30 minutes after a message is left on voicemail and arrangements must be made within 1 hour of receiving said call unless there are verifiable circumstances beyond the control of the listing broker. It is the Participant’s obligation to ensure that whoever answers their telephones regardless of whether they are licensed or unlicensed are required to attempt to schedule the showing of the property or presentation of offers immediately. Only listings that are available to be shown by other Participants may be entered into the MLS available public database. (Interpretations of 302 in the back of the Rule Book & Rule 501.21)
- Any instructions by a seller regarding the limiting of the showing…must be authorized in writing by the seller and a copy must be made available immediately upon request by the cooperating broker. These instructions should be produced immediately upon request (and should be on file in your office). (302.2)
- The Cooperating Broker or his/her representative has the right to participate in the presentation to the seller or lessor of any offer he secures to purchase or lease, unless instructed otherwise by the seller in writing. A copy must be made available upon request by the cooperating broker. These instructions should be produced immediately upon request. (703.4)
- You must issue a written acknowledgment for each offer, and the Listing Broker, or anyone licensed in the Listing Broker’s office, must immediately advise the seller that an offer has been made, and shall make timely arrangements for the offer(s) to be presented (703.11 & 703.43)
- If the Cooperating Broker sends you an Offer Acknowledgment Form, have the owner sign it upon presentation of the offer (if the owner refuses or is unable to sign it, you must sign a Sworn Declaration Statement) Return the Acknowledgment or Declaration within 2 hours of the offer being presented (within 24 hours if the Acknowledgment Form was provided after the offer was presented). (703.11 & 703.43)
This is only a summary of a few of the most common rules violations. For a complete list of the OneKey MLS rules and a list of the Automatic Fines please go to the MLS/LIBOR links on the Stratus Info Center.
If you have any questions, please call Customer Service at 631-661-4800 ext. 1.