You are currently viewing Trending Topics for Compliance: October 2022

Trending Topics for Compliance: October 2022

Test Your Knowledge by Taking the CRMLS Compliance Quiz!

Are you and your agents up for a challenge?  Find out how much you know about the CRMLS Rules and Regulations and Citation Policy! Take the CRMLS Compliance Quiz here.

Compliance Quiz – Question of the Month

Question – True or False? You must have written instructions signed by your seller before you enter a listing in CRMLS’s Coming Soon Status.
Answer: True. The seller must sign the Coming Soon form before Listing Agents and Brokers can enter a listing with the Coming Soon status. If you do not have your seller’s signature on a Coming Soon form before you enter a Coming Soon listing into the MLS, your listing violates CRMLS Rule 10.1.

Reminder: this form does not need to be submitted to CRMLS unless requested. Under CRMLS Rule 10.1, the violation for not obtaining a signed Coming Soon form in a timely manner will result in a fine amount of $750.00. This rule does not carry a warning.

You can download our Coming Soon form here. It can also be found in the Compliance and Clear Cooperation section on the CRMLS website.

Misuse of MLS Information

The purpose of the MLS is to market properties and offer compensation to Broker Participants and Real Estate Subscribers for the sole purpose of selling the property. Sellers of properties filed with the MLS have not given permission to disseminate their information for any other purpose. Therefore, per CRMLS Rule 12.11, it is expressly prohibited to use MLS information for any purpose other than to market a listing to bona fide prospective buyers or to support market evaluations or appraisals. Any use of MLS information inconsistent with this rule is expressly prohibited. Please be aware that this prohibition includes solicitation of expired or canceled listings.

Changes to Listing Information

When submitting changes to the MLS regarding any listing information, it is important to remember that the Listing Broker must obtain sufficient written authorization to make such changes. The MLS must then be notified of changes to the listing, which include list price, status changes, or any other changes in the original listing agreement, within 2 days after the authorized change is received by the Listing Broker. Per CRMLS Rule 7.11, it is a violation to not obtain written authorization for any changes to the listing contract.

This Post Has One Comment

  1. Paul

    What’s going on with this listing?
    CRMLS #PW22237080
    Do you have a mechanism for reporting citable listings?

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