Welcome to Intermountain MLS IMLS Rules Orientation

Transcription

1 Welcome to Intermountain MLS IMLS Rules Orientation

2 Today s Agenda What is Intermountain MLS? Purpose of the MLS? Review of IMLS Organizational Structure Discussion of IMLS Rules and Policies

3 Core Purpose of the MLS Participant = Broker Subscriber = Agent A means by which Participants make a unilateral offer of cooperation and compensation A facility for the correlation and dissemination of listing information among Participants To accomplish this IMLS has business rules in place for accuracy of data The PURPOSE of an MLS is the orderly correlation and dissemination of listing information to Participants so they better serve the buying and selling public.

4 IMLS Structure Regional MLS serving Ada, Blaine, Boise, Canyon, Cassia, Elmore, Gem, Gooding, Jerome, Latah, Malheur, Owyhee, Payette, Twin Falls and Washington Counties IMLS serves approximately 5200 agents and appraisers in Idaho and Eastern Oregon Processes approximately 75,000 Listings annually

5 Local REALTOR Boards Boise Regional REALTORS Caldwell Board of REALTORS Elmore County Board of REALTORS Emmett Valley Association of REALTORS Four Rivers Association of REALTORS Latah County Board of REALTORS Nampa Association of REALTORS Western Magic Valley REALTORS

6 IMLS Structure 18 member Board of Directors with representation from each local Board Board approves policy decisions for implementation by MLS Management

7 IMLS Organization IMLS Board of Directors Glenn Christoph CEO IMLS C.E.O. Support/ Rules and Regulations/ Billing Kim Griffin Director of Membership / IDX Krislee Moss IMLS I.T. Director Barb Keller Director of Training & Communication Chris Peterson Membership/ Key & Lockbox Support Amy Reynolds Membership/ Key & Lockbox Support Annie Cope Membership Support Receptionist I.T. Support Nic Terrell I.T. Support Christian Mawson

8 Volunteers Make the MLS! Rules & Policies Committee New Technology Committee Contact IMLS to be part of a committee PLEASE VOLUNTEER!

9 IMLS Rules and Policies: Violations

10 IMLS Rules and Policies: Violations

11 IMLS Rules and Policies Reporting Guidelines Status Changes must be reported to the MLS within the time frame indicated or fines may be assessed: All new listings must be submitted to the MLS by Next business day after any marketing and/or advertising begins. Listing Date is defined as the day any advertising begins. Failure to submit a listing by the next business day after marketing and/or advertising begins will result in a fine per transaction, in an amount as determined from time to time by the IMLS Board of Directors. All contingencies must be submitted to the MLS by Next business day All pending listings must be submitted to the MLS by Next business day All Sold Listings must be submitted to the MLS by Next business day *If a listing will not be entered by Next business day then the MLS Status Disclosure Form is to be used

12 When to use: Coming Soon! Withholding listing for certain period of time Excluding from MLS Office Exclusive/ Pocket Listing IMLS Rules and Policies MLS Status Disclosure Form

13 IMLS Rules and Policies MLS Status Disclosure Form Section Coming Soon: If the seller directs the listing agent to disseminate the listing by the Service as a Coming Soon listing, the Participant may execute a valid marketing agreement and the listing shall be entered into the MLS system with a Coming Soon status by the next business day after the listing and/or property is marketed and/or advertised. Marketing shall be defined as, but not limited to signage, social media, office meetings, ads in publications and the like. The IMLS Status Disclosure form must be executed and uploaded into the MLS system with the listing. Once the IMLS Status Disclosure form (with Coming Soon checked) is submitted to MLS, it is valid for 14 days at which time the listing will automatically change to an Active status in the MLS system. These listings cannot be cancelled and relisted as Coming Soon, until after 30 days in an off market status.

14 IMLS Rules and Policies MLS Status Disclosure Form Coming Soon: 1. Entered into Paragon with Coming Soon status by NEXT BUSINESS DAY after marketing 2. Upload executed MLS Status Disclosure Form (w/ Coming Soon checked) into listing associated docs 3. After 14 days automatically changes to Active status 4. CS Listing cannot be cancelled & relisted as CS until after 30 days off market status

15 IMLS Rules and Policies MLS Status Disclosure Form How to enter a Coming Soon Listing The listing is entered into Paragon as a regular listing with a few differences. 1. Select "Coming Soon" as the Status

16 IMLS Rules and Policies MLS Status Disclosure Form How to enter a Coming Soon Listing 2. Select "Coming Soon" as the Listing Visibility Type 3. Enter the remaining listing data as normal with all required fields completed. Save when completed

17 IMLS Rules and Policies: Waiver of Benefits Listing Waiver Search

18 IMLS Rules and Policies: Violations

19 IMLS Rules and Policies: Violations Failure to Update Proposed Closing Date Proposed Closing Date must ALWAYS be in the future. If date changes update Paragon If sales falls through- BOM

20 IMLS Rules and Policies: Violations

21 IMLS Rules and Policies IMLS Photo Policy (Sec 1) Photos can be entered into Paragon by any listing agent and is the preferred method of getting photos onto your listings. Uploading your own photos is free. Upload multiple photos at one time in Paragon 5. Photos can also be submitted to the MLS in digital or hardcopy format or ed to the MLS at: IMLS will charge $10 to add photos to any listing. Up to twenty-five total photos per listing may be submitted to the MLS. One Photo is required on residential listings within the next business day after listing is input and no signs in the listing photos

22 IMLS Rules and Policies Sec 1.6 Active Status called Contingent - Listings may only be marked contingent when it is documented that all parties agree that the property will continue to be marketed and other offers will be accepted. If not, an accepted offer must be marked Pending. Contingent: The listing is still being marketed & will transmitted to the internet Offers will still be accepted Bump Clause in Agent Remarks Pending: Offers are not considered Listing not transmitted to the internet Listings of Bank Owned Properties (1.6.2): Participants and its subscribers shall comply with this section whenever the property listed is owned and being sold by a seller that is a bank, credit union, or is otherwise engaged in the business of banking, mortgage lending or secondary market. Listings shall be marked Pending whenever the seller has instructed that it will no longer consider offers and any submitted offers shall not be presented. Listings must be exclusive right to sell or exclusive agency Required fields denoted by * and BOLD on listing input form must be completed Compensation must be expressed as $ or %

23 IMLS Rules and Policies: Violations

24 Expiration, Extension & Renewal Of Listings (Sec 1.10) Any listing input into the Multiple Listing Service automatically expires on the dates specified in the agreement unless renewed by the listing broker and notice of renewal or extension is input into the Service prior to expiration.

25 Expiration, Extension And Renewal Of Listings How does a listing expire? 24 hour grace period Off-market date New Vs Back On Market

26 Expiration, Extension & Renewal Of Listings (Sec 1.10) If an expired listing is reentered into the MLS, It shall be published as a new or back on market listing (whichever is applicable). Any extension or renewal of a listing must be signed by the seller(s).

27 Expiration, Extension And Renewal Of Listings If a listing changes to an off market status (i.e. expired or cancelled) and is re-listed in 30 days or less, it shall come back as Back on Market, not NEW, unless the listing changes brokerages.

28 Expiration, Extension And Renewal Of Listings New Vs Back On Market New: listing is new to an office or 30 days or more has passed since listed at the same office Back On Market (BOM): relisted in less than 30 days at the same office CDOM- If a listing changes to an off market status (i.e. expired or cancelled) and is re-listed in 31 days or less, the cumulative days on market will continue to accumulate regardless of brokerage changes.

29 Expiration, Extension And Renewal Of Listings

30 Expiration, Extension And Renewal Of Listings To reset CDOM you must wait 31 days or longer

31 Reporting Sales Section 2.5 Reporting Of Sales To The Service: Status changes, including final closing of sales and sales prices shall be reported to the Multiple Listing Service by the listing broker by the next business day after they have occurred. Sales Price MUST be reported

32 Reporting Sales

33 Reporting Sales (rule) Section 11.3 Participants or Subscribers may not change or remove listing information, including photos, that pertains to the property, upon a status change unless it is to (1) supplement or correct the remarks to give additional information pertaining to that status change, (2) delete client, owner or occupant names, telephone numbers or other personal information, security codes, lockbox codes, or addresses, or 3) correct inaccurate information. All data submitted to the MLS will remain in the database for historical and other purposes approved by the service.

34 Reporting Sales No Permanent Removal of Listing Information What you can do: Supplement or Correct the remarks to give additional information pertaining to that status change Delete client, owner or occupant names, telephone numbers or other personal information, security codes, lockbox codes, or addresses Correct Inaccurate Information

35 IMLS Rules and Policies* Sec Withdrawn: Temporarily Off Market A Temporarily Off Market listing is one that becomes unavailable for showing during the listing term of the contract. In order to place a listing in the Temporarily Off Market status, the seller's authorization is required and must be input into to the MLS within one business day. The Agent Remarks section must disclose the date on which the property will become available for showing again, or why it will not be returning to an active status. During the Temporarily Off Market time period, no showings of the property are permitted by any licensed agent including the Listing Agent, Listing Broker and/or any Agent affiliated with the Listing Brokerage firm. Temporarily Off Market listings will not be included in any IDX or MLS listing syndication feeds; however, they will accumulate Days on Market. When the Temporarily Off Market time period has expired and the listing becomes available for showings again, the listing must be transferred to an Active status on the date that it can first be shown. Once the Property is included in the Multiple Listing Service database as an active listing, the property will be available for showing by licensed agents and will be included in IDX and MLS listing syndication feeds. Any Participant and/or Subscriber that shows or permits showings of properties that are in the Temporarily Off Market status will be assessed a fine of $ and may be in violation of the NAR Standard of Practices. Repeat offenders of this rule will be reviewed by the MLS leadership and may result in service suspensions or additional fines being assessed.

36 IMLS Rules and Policies Sec Withdrawn Temporarily Off Market: A Temporarily Off Market listing is one that is: unavailable for showing While in Temporarily Off Market Status When it will come back or why not in agent remarks no showings Temporarily Off Market listings will not be included in any IDX or MLS listing syndication feeds; however, they will accumulate Days on Market. After Temporarily Off Market Status the listing must be transferred to an Active status on the date that it can first be shown. Any Participant and/or Subscriber that shows or permits showings of properties that are in the Temporarily Off Market status will be assessed a fine of $ and may be in violation of the NAR Standard of Practices.

37 Auction Properties Sec 1.7 A Multiple Listing Service may accept exclusively listed property that is subject to auction. Auction properties with a minimum bid shall input minimum bid as listing price, otherwise listing price must be zero. All auction details shall be disclosed in remarks

38 Written Documentation Sec 1.1 Written Documentation: Listing brokers (Participants) and licensees associated with Participants filing listings with the Service shall have a written listing agreement with all necessary signatures in their possession. Only listings that create an exclusive relationship between the seller and the listing broker are eligible for submission to the Service.

39 Written Documentation Sec 1.1 By submitting a listing to Intermountain MLS, listing brokers / Agents represent that they have: written agreements establishing agency or other exclusive relationship and the represented type of listing agreement. The Service (IMLS) shall have the right to demand a copy of such written listing agreements and verify the listing's existence and adequacy at any time.

40 Written Documentation Sec 1.1 The MLS shall also have the right to demand a copy of seller's written authorization required under these rules. Failure to provide documentation within 24 hours, the MLS shall have the right to immediately withdraw any listings from the data base in addition to disciplining the Participant for a violation of MLS Rules.

41 Detail on Listings Input into the Service Sec 1.2 A listing agreement, or Property Data Form, when input into the Multiple Listing Service by the listing broker shall be complete in every detail which is ascertainable as specified as "Required Items" on the property data form. Listings that contain missing or inaccurate information may be subject to a fine.

42 Detail on Listings Input into the Service MLS Change form VS. RE-16 A MLS Change form administrative not a contract (internal use) RE-16A (from IAR) is a contract

43 Detail on Listings Input into the Service

44 Detail on Listings Input into the Service

45 IMLS Rules and Policies: Violations 1.2

46 Sec 1.2 Descriptions of Property* (rule) Only information pertinent to the description of the property listed will be permitted to be displayed in any field of the MLS. Any contact information, personal marketing, third party marketing or specific naming of any brokerage, lender, title company, bank or other affiliated service provider may only be displayed in the Agent Remarks field and shall not be displayed in the Public Remarks field. Any contact or personal marketing information is not to be displayed in Associated Documents. Specific naming of any brokerage, lender, title company, bank or other affiliated service provider is not permitted to be displayed in Associated Documents with the exception of documents required for the transaction.

47 (Sec 1.2) Descriptions of Property Only information pertinent to the description of the property listed will be permitted to be displayed in any field of the MLS. No contact information personal marketing third party marketing specific naming of any brokerage, lender, title company, bank or other affiliated service provider may only be displayed in the Agent Remarks field and shall not be displayed in the Public Remarks field. Any contact or personal marketing information is not to be displayed in Associated Documents. Specific naming of any brokerage, lender, title company, bank or other affiliated service provider is not permitted to be displayed in Associated Documents with the exception of documents required for the transaction.

48 IMLS Rules and Policies: Violations

49 Sec 1.2 Physical Depictions of Property including, but not limited to photographs, digital images, virtual tours and sketches, which are submitted to the Service, shall depict only the property for sale. Unbranded Virtual Tours- No Broker/ Agent Contact Information or personal marketing information. Branded Virtual tours may include contact or other personal marketing information. Any office or agent cannot use another agent s or office s photographs, digital images, virtual tours or sketches to promote a new/active listing without written permission. Any violation of this policy shall be considered a violation of the MLS Rules and Regulations and may be subject to a fine.

50 Listing Service What is Full Service? Listing agreements under which the listing broker provides full service to the seller Idaho has MINIMUM SERVICE REQUIREMENTS

51 Listing Service What is Limited Service? Sec Listing agreements under which the listing broker will not provide one, or more, of the following services: advise the seller(s) as to the merits of offers to purchase; assist the seller(s) in developing, communicating, or presenting counter-offers; or participate on the sellers(s) behalf in negotiations leading to the sale of the listing property Idaho has MINIMUM SERVICE REQUIREMENTS

52 Listing Service What is MLS Entry Only? Sec Listing agreements under which the listing broker will not provide any services other than entering the listing into the MLS System. Idaho has MINIMUM SERVICE REQUIREMENTS

53 Advertising Listings Section 2.7 Advertising Of Listing Input Into The Service: A listing shall not be advertised by any Participant, other than the listing broker, without the prior consent of the listing broker. Advertising other than for IDX

54 IMLS Rules and Policies: Violations 2.9

55 Keys & Lockboxes (Sec 2.9) Home Inspectors are allowed ekeys. They are issued Affiliate Keys They require the Lockbox CBS code to open the box

56 Keys & Lockboxes Sec 2.9 Every MLS Participant and every non-principal broker, sales licensee and licensed or certified appraiser who is affiliated with a MLS Participant and who is legally eligible for MLS access shall be eligible to hold one key for use with the electronic lockbox system subject to their execution of a lease agreement with the MLS or its designated lockbox system provider. Every MLS Participant (Broker) shall also be eligible to hold one additional key per office (identified as main office and branch offices in IMLS) for use by a Keyholder affiliated with the same MLS Participant in the event of electronic failure (emergency use).

57 Keys & Lockboxes (Sec 2.9) No one shall be required to lease a key from the MLS except on a voluntary basis. Lockboxes may not be placed on a property without the written authority from the seller. All eligible keyholders must adhere to the following security requirements: a) Electronic key must be in the key holder's possession or in a safe place at all times. b) Keyholder must not allow his/her Personal Identification Number (PIN) to be attached to the key. c) Except where described, Keyholder must not loan the electronic key to any person for any purpose whatsoever, or to permit the electronic key to be used for any purpose by another person. d) Keyholder must not duplicate the electronic key or allow any other person to do so. e) Keyholder must immediately notify the MLS if the electronic key is lost or stolen.

58 Keys & Lockboxes (Sec 2.9) IMLS may refuse to sell or lease lock box keys, may terminate existing key lease agreements, and may refuse to activate or reactivate any key held by an individual convicted of a felony or misdemeanor if the crime, in the determination of the IMLS Board or IMLS, relates to the real estate business or puts clients, customers, or other real estate professionals at risk. IMLS may suspend the right of lock box keyholders to use lock box keys following their arrest and prior to their conviction for any felony or misdemeanor which, in the determination of the IMLS Board or IMLS, relates to the real estate business or which puts clients, customers, or other real estate professionals at risk.

59 Cooperative Compensation (Sec 5) The listing broker shall specify on each listing input into the Multiple Listing Service the compensation offered to other Multiple Listing Participants for their services in the sale of such listing. Such offers are unconditional except that entitlement to compensation is determined by the cooperating broker's performance as the procuring cause of the sale (or lease) or as otherwise provided for in this rule.

60 Inappropriate or Unprofessional Use of Remarks (Sec 1.2) Remarks is for listing information Agent Remarks for agent specific information No exclusion or mentioning of specific agents

61 OWNERSHIP OF MLS COMPILATION* AND COPYRIGHTS Sec. 11 MLS Can include the property listing content in its copyrighted MLS compilation and also in any statistical report on "comparables". Listing content includes, but is not limited to, photographs, images, graphics, audio and video recordings, virtual tours, drawings, descriptions, remarks, narratives, pricing information, and other details or information related to listed property.

62 Distribution (Sec 12) MLS Data is meant for use by Participants and Subscribers of the service No unauthorized distribution allowed

63 Distribution (Sec 12)

64 Distribution (Sec 12)

65 IMLS Rules and Policies: Violations

66 IMLS Rules and Policies: Violations

67 IMLS Rules and Policies: Violations

68 IMLS Rules and Policies: Violations If you need to log in as another IMLS member you can use Assume Identity

69 Information Reproduced (Sec 12.3) MLS Client Detail (& other public reports) Unless the participant or subscriber obtains prior written consent from the listing broker, the information reproduced pursuant to Section 12 of the MLS Rules and Regulations shall not include the following: Property owner s name, phone number and other relevant owner contact information Showing instructions including any references to a lockbox, burglar alarm or any security system, or to the vacancy of the property Compensation or bonuses offered to cooperating brokers Other information which goes beyond a description of the property

70 Use of IMLS Information (Sec 13) Share Sold Information from MLS compilations generally not specific properties which are listed with other Participants, or which were sold by other Participants (as either listing or cooperating broker). Only the listing agent can be specific Any print or non-print forms of advertising or other forms of public representations must include the following, or substantially similar, notice: "Based on information from the Intermountain Multiple Listing Service for the period (date)

71 Standards of Conduct (Sec 16)* IMLS Participants must follow the standards in Section 16 of the IMLS Rules & Regulations and The Realtor Code of Ethics Respect exclusive representation agreements Signs placed only with consent No listing extension without consent of Listing Broker No Poaching (soliciting another agent s listing) Adhere to listing expiration dates & representation agreements Verify if client is subject to current agreements with another broker Be truthful in speaking of other agents/ brokers True representations of property to the MLS / Public

72 Standards of Conduct *(Sec 16) This section covers similar topics to the NAR Code of ethics Acting honestly and ethically Not soliciting listings that are already represented by a broker/ agent Represent the best interest of client Not intended to prohibit ethical albeit aggressive or innovative business practices

73 IMLS Rules and Policies: Violations

74 IDX (Internet Data Exchange) * Section 18 IDX Defined What is IDX? IDX: An Internet Data Exchange (IDX) is a real estate property search site which allows the public to conduct searches of approved Multiple Listing Service properties in a certain area. Intermountain Multiple Listing Service (IMLS) participants the ability to authorize limited electronic display of their listings by other participants. Section 18 covers this specifically.

75 IDX (Internet Data Exchange) * Section 18 IDX Defined What is IDX? How listings are displayed Data update frequency Broker Authorization Required IMLS Frameable Links Third-Party Vendor Section 18 specifics on IDX

76 IDX (Internet Data Exchange) Section 18 IDX Defined What is IDX? IDX affords Intermountain Multiple Listing Service (IMLS) participants the ability to authorize limited electronic display of their listings by other participants. Section 18.1 Authorization 18.1 Participants consent for display of their listings by other participants pursuant to these rules and regulations is presumed unless a participant affirmatively notifies IMLS that the participant refuses to permit display (either on a blanket or on a listing-bylisting basis). If a participant refuses on a blanket basis to permit the display of that participant s listings, that participant may not download, frame or display the aggregated IMLS data of other participants. Even where participants have given blanket authority for other participants to display their listings on IDX sites, such consent may be withdrawn on a listing-by-listing basis where the seller has prohibited all Internet display.

77 18.2 Participation in IDX is available to all IMLS participants who are REALTORS who are engaged in real estate brokerage and who consent to display of their listings by other participants Participants must notify IMLS of their intention to display IDX information and must give IMLS direct access for purposes of monitoring/ensuring compliance with applicable rules and policies MLS participants may not use IDX-provided listings for any purpose other than display as provided for in these rules. This does not require participants to prevent indexing of IDX listings by recognized search engines Listings, including property addresses, can be included in IDX displays except where a seller has directed their listing broker to withhold their listing or the listing s property address from all display on the Internet (including, but not limited to, publicly-accessible Web sites or VOWs).

78 Participants may select the listings they choose to display on their IDX sites based only on objective criteria including, but not limited to, factors such as geography or location ( uptown, downtown, etc.), list price, type of property, (e.g., condominiums, cooperatives, single-family detached, multi-family), cooperative compensation offered by listing brokers, type of listing (e.g., exclusive right to sell, exclusive agency), or the level of service being provided by the listing firm. Selection of listings displayed on any IDX site must be independently made by each Participant Participants must refresh all MLS downloads and IDX displays automatically fed by those downloads at least once every three (3) days Except as provided in the IDX policy and these rules, an IDX site or a participant or user operating an IDX site or displaying IDX information as otherwise permitted may not distribute, provide, or make any portion of the MLS database available to any person or entity Any IDX display controlled by a participant must clearly identify the name of the brokerage firm under which they operate in a readily visible color and typeface. For purposes of the IDX policy and these rules, control means the ability to add, delete, modify and update information as required by the IDX policy and MLS rules.

79 Any IDX display controlled by a participant or subscriber that: a. 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, either or both of those features shall be disabled or discontinued for the seller s listings 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 displays controlled by participants. Except for the foregoing and subject to Section , a participant s IDX display may communicate the participant s professional judgment concerning any listing. Nothing shall prevent an IDX display from notifying its customers that a particular feature has been disabled at the request of the seller Participants shall maintain a means (e.g., address, telephone number) to receive comments about the accuracy of any data or information that is added by or on behalf of the participant beyond that supplied by the MLS and that relates to a specific property. Participants 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 the property explaining why the data or information is false. However, participants shall not be obligated to remove or correct any data or information that simply reflects good faith opinion, advice, or professional judgment.

80 Section 18.3 Display Display of listing information pursuant to IDX is subject to the following rules: Section Listings displayed pursuant to IDX shall contain only those fields of data designated by the MLS. Display of all other fields (as determined by the MLS) is prohibited. Confidential fields intended only for other MLS participants and users (e.g., cooperative compensation offers, showing instructions, property security information, etc.)may not be displayed on IDX sites Listings displayed pursuant to IDX shall contain only those fields of data designated by the MLS. Display of all other fields (as determined by the MLS) is prohibited. Confidential fields intended only for other MLS participants and users (e.g., cooperative compensation offers, showing instructions, property security information, etc.)may not be displayed on IDX sites Participants shall not modify or manipulate information relating to other participants' listings. (This is not a limitation on site design but refers to changes to actual listing data.) MLS data may be augmented with additional data not otherwise prohibited from display so long as the source of the additional data is clearly identified. This requirement does not restrict the format of MLS data display or display of fewer than all of the available listings or fewer authorized data fields.

81 All listings displayed pursuant to IDX shall identify the listing firm in a reasonably prominent location and a readily visible color and typeface not smaller than the median used in the display of listing data. Displays of minimal information (e.g. thumbnails, text messages, tweets, etc., of two hundred (200) characters or less are exempt from this requirement but only when linked directly to a display that includes all required disclosures Non-principal brokers and sales licensees affiliated with IDX participants may display information available through IDX on their own Web sites subject to their participant s consent and control and the requirements of state law and/or regulation All listings displayed pursuant to IDX shall show IMLS as the source of the information by using the approved MLS icon. The explanation that the icon refers Intermountain Multiple Listing Service listing shall appear on the first screen where such properties are displayed. Displays of minimal information (e.g. thumbnails, text messages, tweets, etc., of two hundred (200) characters or less are exempt from this requirement but only when linked directly to a display that includes all required disclosures.

82 Participants (and their affiliated licensees, if applicable) shall indicate that IDX information is provided exclusively for consumers personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. Any search result and subsequent display of listings must have the following disclaimer: Information provided by IMLS is deemed reliable but not guaranteed. Displays of minimal information (e.g. thumbnails, text messages, tweets, etc., of two hundred (200) characters or less are exempt from this requirement but only when linked directly to a display that includes all required disclosures Display of expired, withdrawn, pending and sold listings is prohibited Display of seller s(s ) and/or occupant s(s ) name(s), phone number(s), and address(es) is prohibited Participants are required to employ appropriate security protection such as firewalls on their websites and displays provided that any security measures required may not be greater than those employed by IMLS.

83 Participants must maintain an audit trail of consumer activity on their website and make that information available to IMLS if IMLS believes the IDX site has caused or permitted a breach in the security of the data or a violation of IMLS rules related to use by consumers Service Fees and Charges Service fees and charges for participation in IDX shall be as established annually by the Board of Directors.

84 IMLS Rules and Policies: Listing Entry Information Variable Rate Commission (Sec 5.3) : All listings submitted to MLS with variable rate commissions must be disclosed. This is when the seller agrees to pay a specified commission if the property is sold/leased by the listing broker without assistance and a different commission if the sale/lease results through the efforts of a cooperating broker. The listing broker, in response to inquiries from potential cooperating brokers, must disclose the differential.

85 IMLS Rules and Policies: Listing Entry Information Variable Rate Commission The total commission changes based on whether the buyer comes from the Listing Broker or a Cooperating Broker Commission Scenario 1 Commission Scenario 2 Cooperating with another broker LA = 3% SA = 3% Total 6% Not Cooperating with another broker LA = 4% Total = 4%

86 IMLS Rules and Policies: Listing Input Information If a property qualifies for more than one class it can be listed in more than one class (i.e.: business/ commercial and land) Properties can be listed in a class once and as only one type (e.g.: Not single family and townhome) Residential Properties can be either single family (less than 1 acre) OR single family with acreage (1 acre or more) Below grade: space on any level which has living area, is accessible by interior stairs, and has earth adjacent to any exterior wall on that level. If earth is adjacent to any portion of a wall, the entire level is considered "Below-Grade".

87 IMLS Rules and Policies: Listing Input Information Parcel Number is required on all listings. Correct parcel number links tax information to listing data Apx Sq Feet Please enter all levels and match source. When listings close they are to be entered as sold not cancelled. Cancelling a sold listing will result in a fine assessed against the listing office. Unpublished Sold: pre-sold listings, listings entered for comp purposes with correct dates. Withdrawn: Cancelled- the listing agreement with the seller and the listing office is cancelled

88 IMLS Rules and Policies Remember: IMLS requires that all sold prices be reported as stated in Section 2.5 of IMLS Rules & Regulations. More information is available by clicking Membership Info then Rules and Regulations Rules Violations: Violation Chart

89 IMLS Rules and Policies: Violations

90 Report Corrections

91 Report Corrections Section 1. Reporting a Violation 1.1 How Violations Originate Reported to IMLS Staff Random checks of the database via our Compliance Checking Software Result of listing audit. IMLS Rules/Regulations allow IMLS staff to request copies of listing forms and change orders. 1.2 Reporting Violations Fax a copy of the listing in question to IMLS staff Use the Correction option in Paragon to send an to IMLS staff 1.3 Required Information When Reporting Name and office of the alleged Responsible Agent Nature of the violation (be as specific as possible, i.e., when it occurred, the MLS #, etc.).

92 Thank You