MRIS New (might I add cool) Policy Changes for July 2010

Current MLS Photos

A huge frustration for many professional agents is the practice by some to use old MLS photos or no MLS photos in their listings.  Often this presents an untrue picture of the home and can be misleading for buyers trying to sort listings on line.  Effective July 1st, 2010 agents will be required to upload a current MLS photo within 48 hours of entering a new listing.

The new policy says this:

Article XI – Listing Procedures
Sec. 20D – An image or photo of the main exterior must be submitted with each residential listing within 48 hours excluding weekends and holidays unless the seller has requested in writing that no photos are to be included as part of the listing.

To make sure that I read the policy correctly, I emailed MRIS compliance and confirmed that “submitted” did imply a new photo of the main exterior had to be uploaded.  Here is their response “You are correct, an agent must submit a new photo. Here is a complete document on the new rules and regulations that take effect this Thursday, July 1st:”

This is a great change for ensuring up-to-date photos of properties are provided to buyers searching for their new home.

Accurate Status

An additional change is a better definition of what each MLS status means.  Often listers will attempt to keep Short Sale listings active in MLS attempting to solicit another buyer even after ratifying a contract.  This has always been a violation of the REALTOR Code of Ethics and Virginia Administrative regulations, but now it’s a clearer violation of MRIS Policy.

Article XII, Change of Status

Sec 3. – MRIS uses the following status types to indicate a property’s availability:

ACTIVE – Indicates that the property is available for showing with no contingencies, contract or rental application registered against it.

CNTG/KO – (Contingent with Kick Out) – Indicates that the property is available but has a contract with at least one pending contingency that includes a kick out clause.

CNTG/NO KO – (Contingent with No Kick Out) – Indicates that the property is available but has a contract with at least one pending contingency and the pending contingencies do not contain kick out clauses.

APP REG – (Application registered) – Indicates that the property is available but a rental application has been registered on it.

CONTRACT – Indicates that the property has a ratified contract with no pending contingencies.

SOLD – Indicates that the property is sold and settled.

RENTED – Indicates that the listing has been rented.

TEMPORARY OFF – Indicates that the property is not available for showing. This status is for short term use, 14 days or less, and must have seller approval.

EXPIRED – Indicates that the listing agreement has expired.  WITHDRAWN – Indicates that the listing agreement has been terminated prior to its listing expiration date.

IDX and Comments on Listings

A new play on IDX over the past couple of years has been augmented IDX, wherein an agent can feed active MLS listings into their webpage and then allow consumers and other agents the ability to add URL’s with photos or reports etc to the site.  Many can also add their opinion or rating on each site.  This is a measure toward more authentic consumer engagement.  However, as you can imagine it can sometimes get out of hand.  To address these issues, the following policies have been adopted.

Article XXII- INTERNET POLICY

Sec. 2. Display of another MRIS Principal Broker Subscriber’s listing must indicate MRIS as the source of the information. Information must be updated at least once every seven (7) three (3) calendar days and must display the last update date.
Sec 19. Subscribers must protect IDX information from misappropriation by employing reasonable efforts to monitor and prevent “scraping” or other unauthorized accessing, reproduction or use of the MLS database. Subscribers may not use IDX-provided listings for any purpose other than display on their websites.

This does not require subscribers to prevent indexing of IDX listings by recognized search engines.
Sec. 21. With respect to any IDX site that allows third-parties to write comments or reviews about particular listings or displays a hyperlink to such comments or reviews in immediate conjunction with particular listings, or (b) displays an automated estimate of the market value of the listing (or hyperlink to such estimate) in immediate conjunction with the listing, the IDX site shall disable or discontinue either or both of those features as to the seller’s listing at the request of the seller. The listing broker or agent shall communicate to the MLS that the seller has elected to have one or both of these features disabled or discontinued on all subscribers’ websites. A subscribers’ IDX site may communicate the subscribers’ professional judgment concerning any listing. Nothing shall prevent an IDX site from notifying its customers that a particular feature has been disabled at the request of the seller.
Sec 23. An IDX operator shall maintain a means (e.g., e-mail address, telephone number) to receive comments about the accuracy of any data or information that is added by or on behalf of the IDX operator beyond that supplied by the MLS and that relates to a specific property displayed on the IDX site. The IDX operator shall correct or remove any false data or information relating to a specific property upon receipt of a communication from the listing broker or listing agent for that property explaining why the data or information is false. However, the IDX operator shall not be obligated to remove or correct any data or information that simply reflects good faith opinion, advice, or professional judgment.

The following PDF was downloaded from the MRIS website to summarize the changes:

About Matthew Rathbun

Matthew is the Vice President of Coldwell Banker Elite and is dedicated to Agent Development and Innovation. Matthew is a lover of God, Life and Mac  , father of 3 great girls and husband to 1 awesome wife.

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Related posts:

1. New REQUIRED Virginia Property Disclosure Form – July 2010
2. MRIS Do’s and Don’ts Updated