MLS Rules
MLS Rules are the cornerstone to how MetroList Participants and Subscribers interact with the real estate data that allows the MLS system to operate equitably and with the highest level of data integrity.
Helpful Handouts & Links
Upon receiving a violation/citation please read the Citation Notice fully and follow the “Action Required” Section or Call/Email the Compliance Department for further clarification.
If you see something wrong with a listing please hit the Report Violation prompt within that particular listing to report a violation and the Compliance Department will assess and follow up if needed.
Contact Compliance within 30 Days of the Closed Date to make necessary updates.
10.1.1 Final Sale shall be defined as the recording of a deed or other document in the applicable real estate records transferring title to property listed in the MLS. Information regarding a Final Sale with the correct buyer’s agent information and the correct sales information shall be entered into the MLS by the seller’s agent within three (3) days of the date of the Final Sale. Failure to do so will result in an automatic fine as set forth in Addendum B. Any changes to information entered in the MLS regarding a 28 ©2024 MetroList Services, Inc. MLS Rules Effective Date January 1, 2024 Final Sale may only be made within thirty (30) days after the date of the Final Sale with the consent of the listing broker’s office
You can clear out just the DOM on a new listing by creating a new listing at any time and the listing will appear as “New” again on the hot sheets for 5 Days in the MLS. The CDOM number count will stay and keep accruing with the new listing.By waiting 31 Full Days from the Inactive Date on the previous listing & going Active again on the 32nd Day, that will Clear BOTH the DOM/CDOM, as well as showing as “New” and on the hot sheets for 5 Days in the MLS.
The Hold Status temporarily stalls/pauses the DOM/CDOM from accruing days on market. A listing can stay in Hold Status for as long as needed, until the Listing Expiration. However, after 10 days in Hold Status, all marketing must stop, including a For Sale Sign in the yard.
The Most Asked About MLS Rules
1. Your Agent Id, Password and Lockbox Key are provided for your use only. Never share them with anyone.
2. All listings entered into the MLS must have a valid listing agreement.
3. All data entered into the MLS about your listing should be accurate, timely and meaningful.
4. Mandatory Submission of a Listing 3 Calendar Day Rule (MLS Rule 7.6)
a) Listings must be entered into the MLS; or
- Listing goes live immediately and is viewable by all.
b) Listing must be entered with future On Market Date.
- Absolutely no marketing of the property. (includes: Coming Soon Signs)
- On Market Date may be up to 120 days from listing date.
- Viewable by Office Only.
- When On Market Date is reached, the listing goes live immediately, is viewable by all and the Days on Market is Zero. (DOM will NOT accrue from original listing date.)
c) Listing Waiver, signed by seller, must be submitted to the service within 3 calendar days or
- No restrictions on marketing the property.
- Listing is withheld from MLS, while pre-marketing or during entire listing period.
- If sold while on Waiver, listing may NOT be entered as Comparable.
- Post waiver, if listed with the MLS, the On Market Date shall equal the Listing Date. (DOM will accrue from original listing date)
5. Report all changes in status within three (3) calendar days.
CheckIT is an optional tool designed to help agents identify potential infractions when used. While CheckIT is highly effective, it may not detect all potential infractions in the initial use, you may receive a notice for any additional infractions not initially detected when using the CheckIT tool.
CheckIT Benefits
Reviews data input at entry
CheckIT against MLS Rules to help avoid any rules violations
CheckIT compares entered data against county tax records
In the fast paced world in which we live, CheckIT offers one more level of checks and balance
CheckIT delivers a better client experience and potentially reduces liability
CheckIT will significantly improve the accuracy of listing information for brokers, agents and millions of home buyers and sellers. Having this system to monitor data input will ensure continuity in the data, improve the customer experience and potentially reduce liability issues for our subscribers.
PHONE
(916) 922-7584 Option 4