1 / 18

MLS Data Integrity

How?. MLS Data Integrity. What?. Why?. Presented by Chris Griffiths. Four Stated Purposes of the MLS:. To establish a legal relationship with other Broker Participants for compensation and cooperation.  It must be unilateral and unconditional.

mura
Download Presentation

MLS Data Integrity

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How? MLS Data Integrity • What? Why? Presented by Chris Griffiths

  2. Four Stated Purposes of the MLS: • To establish a legal relationship with other Broker Participants for compensation and cooperation. It must be unilateral and unconditional • To provide a source of information for members to analyze and value property • To support participants engaged in real estate appraisals • For the orderly accumulation and distribution of listing information to serve clients, customers and the public.

  3. California Real Estate Technology Services (CARETS) • One set of data shared across multiple MLS’s • Access through existing MLS interface • IDX Data from all participating MLS’s • One set of Rules and Regulations

  4. 4.45 Million Listings!

  5. CARETS MLS’s

  6. CARETS MLS’s and Associations • CLAWBeverly Hills/Greater Los Angeles, Malibu and Southwest Los Angeles • CRISNetBurbank and Southland Regional • CRMLS (formerly MRMLS)Amador, Arcadia, Chico, Citrus Valley, East Valley, Inglewood, Inland Valleys, Lake County, Madera, Mariposa County, Merced County, Montebello District, Oroville, Palos Verdes Peninsula, Paradise, Plumas, South Bay, Southwest Riverside County, Tehama County, The Inland Gateway, Tri-Counties, West San Gabriel Valley and Yosemite Gateway • DAMLSCalifornia Desert and Palm Springs Regional • i-TechGlendale and Pasadena-Foothills • SoCalDowney, Hemet-San Jacinto, Laguna, Newport Beach, Orange County, Pacific West and Rancho-Southeast • VCRDSVentura Coastal and Conejo Simi Moorpark

  7. How Are Violations Reported? • All violations are reported by MLS members • Most violations are reported anonymously • Staff are not allowed to report violations • Offenses are counted on the calendar year

  8. Fine Schedule • First thru Third Violations…..”Warnings” • Violations must be corrected within two business days or they become a new offense • Fourth Violation…..$250 or attend a class in lieu of fine ($50 fee) • Fifth and Subsequent Violations…..$500 • The maximum fine for a single violation is $2,500.If the violation is still not corrected, then themember is suspended!

  9. Receipt and Correction • Two business days after mailing • One business day after email or fax, or… • Two business days from receipt to correct or clarify with the Association There is NO third choice… Correct the violationor Clarify with the Association

  10. The Appeals Process • Panel of 3 members of MLS committee, plus the Chairperson • Hearings are scheduled monthly • All fines must be paid prior to the appeal • Show up! The Panel are all volunteers

  11. Know the Rules MLS Rules and Regulations at: www.pfar.org

  12. Remarks Fields The MLS contains four fields for remarks: Public • Marketing Remarks • Directions to Property Agent-to-Agent • Showing Instructions • Agent Remarks

  13. Marketing Remarks “This area should only be used to describe the property’s physical and aesthetic characteristics, the things that might make a buyer want to look more closely at the property, specific terms to or exclusions from a sale (or lease), or legally required statements. A description of the Type of Sale is allowable.”

  14. Top Six Violations Seen in the Marketing Remarks 1. Agent names and/or phone numbers • 2. Agent Websites and/or virtual tour addresses • 3. Open house information • 4. Commission information • 5. “Vacant” gate code and/or lockbox info • 6. Language that violates Fair Housing guidelines PFAR.org -> Members -> Fair Housing

  15. Listing Status • ACTIVEA valid listing contract exists and no offer (with or without contingencies) has been accepted. • 1st RIGHT REFUSE(shown Statistically as ACTIVE)Accepted offer that contains a contingency with Right of 1st Refusal. • BACK-UP OFFER(shown Statistically as ACTIVE)Offer accepted and either 1) Seller requests that property remain in an On-Market status and is looking for back-up offers, or 2) the sale is subject to court or other third party approval. • CANCELED(Cancellation of listing agreement)The listing agreement has been canceled. • EXPIREDThe listing agreement has expired. The time frame of the existing listing contract has run out. • HOLD(Listing agreement still in effect)A valid listing contract is in effect, however, because of various reasons such as repairs, illness, guests, etc., the Seller has requested that temporarily there be no showings. • LEASEDThe property has been leased. • PENDING(Listing agreement still in effect)The Seller has accepted an offer and is not soliciting offers through the MLS. • SOLDEscrow has closed. • WITHDRAWN(Listing agreement still in effect)A valid listing contract is in effect, however the property is no longer being marketed.

  16. Wrong Area PFAR.org -> MLS -> MLS Area Map or -> PFAR Areas Defined (Addendum)

  17. No Photo, or No Exterior Photo Must have at least one photo or rendering of the exterior If all else fails, use the “Bird’s Eye View” available in i-Tech

  18. Slides Posted At: ChrisGriffiths.net • Add PFAR Education Calendar to your Google Calendar • Add Google Map overlays to your Google Maps • Useful forms, links and more

More Related