Printer-friendly version
Send to friend| FYI | June 2009 |  |
Rule Changes and Photos
Earlier in May the MLS sent out via email the recently updated rules. For a complete copy of the Rules click on the MLS Rules link from the main page in flex. Note that the most recent changes are highlighted in red.
One of the changes to the rules is the procedure regarding photos – section 1.2 and section 7.0. Effective July 1, 2009 you will have seven days (excluding Sundays) to submit a photo to the MLS for all residential listings (single family, two family, multi family up to 4 units and condominiums). If after seven days there is no photo in the flex system the MLS will issue a $10 sanction and will continue to issue a $10 sanction each month until a photo is received. The MLS will no longer automatically have the photographer take the photo. If you would like to have the MLS photographer take the photo please email (photos@metromls.com) or call the MLS to make your request.
The MLS will continue to automatically take the photo if you make the request when entering the listing as new. The MLS will take photos in Milwaukee, Ozaukee, Racine, Washington and Waukesha counties.
On or about July 6th the MLS check all active or pending residential listings and all residential listings that have sold in 2009 for photos. If there is no photo in the flex system, the MLS will begin to issue sanctions according to section 7.0 of the MLS Rules. PLEASE CHECK YOUR INVENTORY.
Accepted Offers
Another change to the Rules regards the reporting of accepted offers. Remember – accepted offers must be reported within 48 hours as either Active w/Offer (has an offer but the seller is still showing property and taking secondary offers) or Pending (has an offer and the seller is no longer showing the property) unless there is a “Home Sale Contingency”. Failure to report accepted offers may result in a $10 per day sanction.
Properties that are a “short sale” and have an offer that has been accepted by the seller but not approved by the mortgage holder do not have to be reported.
We appreciate your business and support and look forward to your comments, questions and suggestions regarding any subject. Contact (InMyOpinion@metromls.com) or call (414) 778-5400.
