Posted: Monday, March 23, 2015 3:05pm

Homestead Funding can now finance double-wide mobile homes using VA and FHA financing!!!

Click here for more information.



  Posted: Friday, May 9, 2014 11:38am

Recently, I contacted the NYSAR Legal Hotline (518-436-9727) and asked if when taking a listing, can seller specify any of the following?

  • Can an individual licensee be excluded from showing/entering the listed property?
    Absent a court order, the answer is no.

  • Can a company be excluded from showing/entering the listed property?
    Absent a court order, the answer is no.

  • Can a listing specify that a certain company will not be paid a commission?
    The answer is no.

    All of the above can result in a licensing violation for the agent and his/her broker. There may also be a violation of the Code of Ethics and MLS Rules and Regulations.
  •   Posted: Friday, January 18, 2013 1:10pm

    REMINDER: ALL advertising of property by agents and brokers MUST include at least the following information: Name, Company name, licensure (Lic RE Broker, Lic RE Salesperson, Lic RE Assoc. Broker). This includes newspaper and Craiglist ads.

      Posted: Friday, April 13, 2012 11:33am

    "AS IS" Addendum

    The new "As Is" Addendum is posted in "Printable Forms." It is also being submitted to Instanet for posting there.

    This was developed by the Forms Committee in conjuction with Pat Evans, Board Attorney and approved by the Board of Directors at its April 10th meeting. It was requested by several members. If you have a suggestion for a new form or changes to an existing form, feel free to e-mail those to the Board Office at help@nnymls.com.

    The form is designed for use as an addendum to the purchase offer and states (in part):
    The property described herein is sold and accepted in "as is" condition as of the date of this addendum. Notwithstanding any language of said contract to the contrary, the seller does not warrant the condition of the premises, its systems, the improvements , the fixtures, the appliances or any other personalty to be sold, nor shall Buyer request or require Seller to make any repair or improvement of the property.

      Posted: Friday, March 9, 2012 1:10pm

    Our legal Beagle, Pat Evans, has put together a series of "barks" that we will post from time to time.

    Board's Legal Beagle Barks:

    Arff:
    Time is of the essence: while we don't put that in many contracts, you can help the closing move faster if you discuss time lines with your client's attorney. If a buyer has a particular need and wishes to close before the contract date, make that known! The attorney can try to put the push on or can negotiate with the Seller to have the abstract updated before the commitment is issued. Buyer or agent can guarantee the cost of the abstract if the deal falls through. That can cut a week or two off the closing time.

      Posted: Friday, July 1, 2011 4:02pm

    The Board Office has received a few inquiries from members about the lead paint renovation rules that went into effect on April 22, 2010. Here is a link to NAR's resource guide on Lead Paint Renovation rules - http://www.realtor.org/government_affairs/lead_paint_main.

      Posted: Thursday, March 31, 2011 10:38am

    Quick Reminder: Blue ink does not scan or fax well. Please try to use black ink on all forms. Thanks.

      Posted: Monday, March 14, 2011 3:54pm

    REMINDER
    It is the responsibility of the agent showing a property to be sure to leave a property in at least the same condition that it was in when he/she arrived. Generally, that means locking the doors, shutting off lights that were turned on, and checking the house after the clients/customers leave to be sure that everything is secure. This is particularlty important with vacant properties.

    Thank you

      Posted: Monday, May 10, 2010 12:23pm

    Please remember that when you put an ad on or in any medium (print, broadcast, or on-line including Facebook, Active Rain, e-mails, etc.), 19NYCRR Rule 175.25(a) requires that all advertisements placed by a broker must indicate that the advertiser is a broker, or give the name of the broker and his/her telephone number.

    Correct Copy
    House, ½ acre, $90,000
    John Doe, Broker (or)
    John Doe, XXX Realty
    518-xxx-1000 518-xxx-1000

    Incorrect Copy
    House, ½ acre, $90,000 House

      Posted: Wednesday, December 23, 2009 2:10pm

    From Jenn Dindl-Neff (Humes Realty and Appraisal Service) [12/23/2009]

    The FHA "HVCC" has been delayed...we don't have to implement until February 15, 2010.

    Cut from the Notice:
    "Enactment of ML 2009-28, Appraiser Independence, will be delayed until February 15, 2010. ML09-28 (originally planned for a January 1, 2010 implementation) has two parts: a) prohibition of mortgage brokers and commission-based lender staff from the appraisal process, and b) appraiser selection in FHA Connection. The effective date for both sections of this guidance will now take effect for all case numbers assigned on or after February 15, 2010. This extension will provide FHA and lenders additional time to adjust systems to accommodate the changes.

    Detailed instructions on changes to FHA Connection will be issued in a new mortgagee letter. However, lenders should be aware that the requirement for inputting the appraiser ID and the appraisal assignment date in the FHA Connection case number assignment screen will be removed. Instead, lenders will be required to enter all appraisal data, including the appraiser ID, in the Appraisal Update Screen once the completed appraisal is received by the lender and prior to closing the loan."

      Posted: Wednesday, November 18, 2009 3:58pm

    Here is HELP for typing on pdf "Printable Forms".


    If you are having difficulty typing on a pdf document in Printable Forms, please follow this procedure:

    Open your Adobe program (start>programs>Adobe Reader)
    Click Edit
    Click Preferences (under Edit)
    Under Categories, click Documents
    Where you see PDF/A View Mode (to the right)
    Select NEVER
    Click OK and exit out of Adobe.

    This is a ONE TIME procedure, which will allow you to print on the pdf forms.

      Posted: Monday, September 28, 2009 3:07pm

    If you have an updated version of Internet Explorer and are having problems loading pictures into the MLS, you might have a cache problem. Our friends at Soft MLS suggest the following:

    To temporarily force Internet Explorer to refresh its image cache, hit CTRL-F5.

    For a permanent fix, configure your browser so it doesn't cache images:

    Open Internet Explorer
    1) Select "Tools" at the top
    2) Scroll down to "Internet Options"
    3) Under the "General" tab go to the "Browser History" section
    4) Select the "Settings" button Under the "Temporary Internet Files"
    5) Select the "Never" radio button
    6) Hit the "OK" button and close out the rest of the windows to return to the browser

      Posted: Friday, August 28, 2009 12:36pm

    8/28 - Under Public Feedback, we had this comment about our website:

    "Please communicate to the Realtors who have the privilege of using your site the importance of removing their listings once they are sold. I understand that a realtor may overlook this step once their listing is sold, but please communicate to them that you have a different customer/user base for your website. Throughout this summer several listings have stayed on well beyond closing dates. So much so that I have contacted my realtor on the same property twice. The time that goes in to viewing a house, contacting my realtor about it, and waiting for a response is making your website seem unprofessional and unreliable."

      Posted: Monday, June 8, 2009 10:01am

    Licensing Situation: What is the duty of the listing agent in this case?

    If the licensee is acting as a seller's agent, but working with a buyer, can the agent tell the buyer what the seller paid for the house when the seller bought it? Assuming that there are no instructions from the seller to specifically tell the price, and knowing it is public information, would the agent only disclose it if the buyer asks? Or would it not be allowed no matter what?

    Legal answer: The agent should discuss the matter with the seller and obtain permission to disclose such information. Any action by the agent to the contrary may be considered a breach of fiduciary duty.

      Posted: Tuesday, March 3, 2009 10:19am

    Recently, we've had some confusion about terminology. Please review these definitions.

    Exclusive Agency - A written listing agreement giving a sole agent the right to sell a property for a specified time, but reserving to the owner the right to sell the property without owing a commission. The exclusive agent is entitled to a commission if he or she personally sells the property or if it is sold by anyone other than the seller. It is exclusive in the sense the property is listed with only one broker. The multiple-listing service must accept exclusive-agency listings submitted by participating brokers.

    Exclusive Right to Sell - A written listing agreement appointing a broker the exclusive agent for the sale of property for a specified period of time. The listing broker is entitled to a commission if the property is sold by the owner, by the broker or by anyone else. The phrase "right to sell" really means the right to find a buyer; it does not mean that the agent has a power of attorney from the owner to sell the property. Unless the contract clearly states it is an exclusive right or authorization to sell, most courts will treat it as being a mere exclusive-agency listing.

    Exclusive Listing - A written listing of real property in which the seller agrees to appoint only one broker to sell the property for a specified period of time. The two types of exclusive listings are the exclusive agency and the exclusive right to sell. All exclusive listings must stipulate a definite termination date. A listing for an indefinite period is frowned on by the courts, is illegal in many states and is generally poor practice. This is to protect sellers who, unaware that the listing is still in effect after the end of the initial listing period since they failed to give a cancellation notice, may list the property with another broker and thus find themselves liable for the payment of two full commissions.


      Posted: Thursday, February 19, 2009 3:38pm

    Reminder:
    When doing a purchase contract, please remember to fill out the informational section on page 3. It would really help all parties (including the Lenders, Attorneys, and Appraisers).

    Thanks,
    Lance

      Posted: Wednesday, September 3, 2008 10:05am

    ARE YOU COMPLYING WITH LICENSE LAW?


    Pursuant to DOS regulations, all advertisements (including business cards, on-line ads, newspaper ads, Craig's List, etc.) must contain the name and contact information of the brokerage.

    If the licensee's name also appears, it must be exactly as it appears on their license as well as the license status.

    Allowable licensed status is as follows:

  • Licensed Real Estate Broker or Lic. R.E. Broker

  • Licensed Associate Real Estate Broker or Lic. Assoc. R.E. Broker
    OR
    Licensed Real Estate Associate Broker or Lic. R.E. Assoc. Broker

  • Licensed Real Estate Salesperson or Lic. R.E. Salesperson
  •   Posted: Thursday, May 22, 2008 2:35pm

    This warning was sent to me by the Executive Officer of the Cayuga County BOR. I have posted it for your information. Read on...

    -Lance


    Hi All,

    I wanted to share the following with you just in case this person happens to show up in your area.

    It has come to the attention of the Board that one of our agents has had a problem with a person looking to buy commercial and residential property. This person is of "questionable character" and agents are asked to be extremely careful while showing any property. This person goes by the name of "Robb", he has a medium build, is of medium height in his late 40's, is bald, has hazel eyes and a salt & pepper mustache. He drives a light colored compact wagon with a taped outside front light. The agent had been working with this person for approx. 3 days and he knew specifics. This person showed up at the agent's home at 5:00 in the morning (Monday) while her husband was on his way to work. Fortunately the husband recognized the vehicle and turned around to go home and confronted this person who then fled. As always, it is suggested that you not go to showings alone. Perhaps everyone should take a refresher course in Real Estate safety as there are problems that can arise and each and every one of you should be prepared.

      Posted: Wednesday, May 14, 2008 2:55pm

    IMPORTANT REMINDER
    FOR SUPRA USERS


    Having a Supra Key does NOT give you permission to show listings whenever you feel like it.

    You MUST call the listing agent or office in advance!!

    Would you want someone walking into YOUR clients home unannounced?


    Thank you for your cooperation.

      Posted: Friday, February 29, 2008 9:33am

    New Member Benefit-Zoo Membership!

    Looking for a great closing gift to welcome someone to the area? How about a gift for that hard to buy for friend or relative in the area?

    The NYS Zoo at Thompson Park (Watertown) is allowing members of the Jefferson-Lewis BOR and St. Lawrence Co BOR to buy year long memberships for $40 (a 27% discount off the usual price of $55). What a great way to welcome someone to the area!

    To take advantage of this offer:
  • print off the order form found in the "Printable Forms" section (under "General");
  • fill it out with the name of the person/people you want to give the membership to; and
  • return it to the Zoo with a check, money order, credit card #, or cash.
    If you want it mailed to you (instead of them), please note that on the form also along with the date you want the membership to start.

    This is truly a gift that will keep on giving throughout the year.
  •   Posted: Friday, February 1, 2008 8:28am

    Advertising Property For Sale in Print, Electronically, and on the Internet


    I have had several complaints recently about properties listed on sites like Craig's List, etc. with no agent name, company, etc. Not only is that against NY state license law, but also may violate Article 12 of the Code of Ethics as evidenced by Standard of Practice 12-5. While you can find the full COE by clicking "Printable Forms," I have excerpted portions of Article 12 below.

    Article 12
    REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional.
    (Amended 1/08)


  • Standard of Practice 12-5
    REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner. (Adopted 11/86, Amended 1/07)
  •   Posted: Friday, October 5, 2007 10:31am

    The Board Office has received several calls about newspaper ads and Internet ads (craigslist, etc.) with property for sale. Although these ads do not mention it, the properties are for sale through real estate licensees.

    NYS Law and the REALTOR® Code of Ethics prohibit not disclosing this.

    License law (19NYCRR Rule 175.25(a)) requires that all advertisements placed by a broker must indicate that the advertiser is a broker, or give the name of the broker and his/her telephone number. (The same applies to agents of the broker.)
    Failure to do that can result in a charge of untrustworthy conduct being lodged by the DOS against the licensee.


    As a REALTOR®, Article 12 states that:
    "REALTORS® shall be careful at all times to present a true picture in their advertising and representations to the public. REALTORS® shall also ensure that their professional status (e.g., broker, appraiser, property manager, etc.) or status as REALTORS® is clearly identifiable in any such advertising. (Amended 1/93)"

    More specifically, Standard of Practice 12-5 states that:
    "REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner. (Adopted 11/86, Amended 1/07)"

      Posted: Friday, September 21, 2007 9:43am

    What to know and do BEFORE you call an FSBO, another agency's expired listing, etc.

    The Board Office has gotten several phone calls and questions about the "Do Not Call" list. Most of the questions are about how to stay in compliance with the law.

    Here are several resources you can check for information:

  • NYSAR
    a)Here's the link to the NYSAR benefits page with the PossibleNow program information. PossibleNow is a DNC compliance tool: http://www.nysar.com/members/services.asp.
    PossibleNOW's DNCQuickcheck is a comprehensive Internet-based service that addresses all of the Do Not Call regulatory requirements to ensure that you are in compliance and avoid fines. With this affordable, easy-to-use solution, designed for individuals or branch offices, you can instantly verify phone numbers prior to placing any calls, manage your company's DNC list, get trained on the DNC laws, and much more to assist with a safe harbor defense.
    Discount: Save 50% off the standard monthly fee. Cover unlimited agents in an office for $100/month. (Member Code: SC1477NY)
    Call 800.585.4888 or e-mail sales@possiblenow.com. More info at www.dncquickcheck.com

    b) Here's the link to NYSAR's online library which houses the do not call articles as well as links to the webinars - www.nysar.com/members/library/library.asp

  • The Federal Trade Commission (FTC) website at https://telemarketing.donotcall.gov/ contains much information and a way to subscribe to their lists. An important resource on the FTC site is the FAQ (frequently asked questions) at https://telemarketing.donotcall.gov/FAQ/FAQBusiness.aspx

  • NAR has a field guide at http://www.realtor.org/libweb.nsf/pages/fg707. Among other issues, it talks about
  • Do the new rules apply to calls made to FSBO's?
    There are two instances when a real estate professional would call a FSBO seller. The first would be a real estate professional seeking of a FSBO listing, and the second would be a buyer's representative who believes his/her client might be interested in a FSBO property. A buyer's representative can contact a FSBO owner whose number is listed in the Do-Not-Call registry about a client's potential interest in the property, as this call is not a telephone solicitation by the buyer's representative. Note that the buyer's representative can only discuss his/her client's interest in the property and not use a purported client's interest as a way to also discuss the possibility of the FSBO owner listing his/her property with the buyer's representative.

    However, a real estate professional would be prohibited from initiating a telephone call to a FSBO seller whose number is listed in the Do-Not-Call registry in an attempt to obtain a listing. The rules prohibit anyone from making telephone solicitations to telephone numbers that are registered in the database, and a call initiated to obtain the listing falls within that definition.


    Can I still call Expired Listings?
    The established business relationship exemption permits the listing agent as well as other agents from the same company to contact the seller for up to 18 months after the expiration date. For all other agents, the Registry must be consulted prior to calling. If the seller has placed their number in the Registry, you should refrain from calling them.
  •   Posted: Tuesday, May 1, 2007 4:00pm

    Commission Questions

    I have had a number of calls about commission amounts in the MLS. The amount for commission (% or $) is entered into the MLS as "Selling Office Commission" and "Buy Broker Commission." (Please note we are planning on changing these and adding "Broker Agent Commission" to comply with the new Agency Disclosure.)

  • "Selling Office Commission" is the amount offered to a subagent. Some sellers do not want to offer subagency since with subagency, the seller may be liable for any statement that the agent makes. The subagent works with a buyer customer on behalf of the seller.

  • "Buy Broker Commission" is the commission to a buyer broker (or buyer agent). The buyer broker works on behalf of the buyer and owes fiduciary duties to the buyer.

  • In order for a listing to be entered into MLS, a seller must offer compensation to at least one of the types of agency. The seller does not have to offer commission to all types however. That does not mean that the seller won't cooperate with all types of agency.

  • The listing office commission does not appear on the MLS.

  • Just like there is not a "standard" commission amount in the area, there is no preset split for commission between listing office and any type of agency. It is up to each broker and their sellers to determine the split and the amount of commission offered.
  •   Posted: Thursday, January 18, 2007 1:28pm

    Do you ever ask yourself, "Is that style Federal, Cape Cod, or a Victorian?" REALTOR magazine online has a handy style guide that can be found at http://www.realtor.org/rmoarch.nsf/pages/archguide?OpenDocument.

      Posted: Tuesday, October 3, 2006 11:38am



    The date on the contract MUST match the list date on the Hot Sheet. If there is a waiver, please send that to us. Anytime there is a change to a contract we also need that faxed to us as well.

      Posted: Friday, July 28, 2006 11:03am

    **REMEMBER**

    7/28-Please add the MLS # on the bottom of the contracts before faxing to the board!

    7/27-I have had a request to put on the message board that "we (REALTORS®) need to know the directions on listings."

    7/26 - I have been asked to define "released" and "withdrawn." Both terms apply to listings that are terminated prior to expiration date.
  • Generally "released" means that the broker and the seller are parting ways and the seller is free to list with another broker.
  • "Withdrawn" usually means that the seller has chosen not to sell his/her property at this time.

    7/24- Due to some confusion, we have changed the property types "Waterfront" to "W-front" and "Waterview" to "W-view." This was done because they both show up as "Water" on a listing summary. We hope this helps.

    -Lance
  •   Posted: Monday, July 24, 2006 7:37am

    7/24-As a follow-up (courtesy of an appraiser):
    Ranch vs. Manufactured House
  • GOLDEN RULE- Remember the M! Metal= Manufactured!
  • IF frame is METAL it is a manufactured house!!! (wood is modular or stick built).... Even if.... It has drywall, upgraded roof pitch, wood floors, oak kitchen, or additions (aka ranch mobiles). If there is Metal = Manufactured..
    (Source:Residential Cost Handbook, copyright 9/2004)

    To all:
    Please be careful when entering information into a listing, particularly style. A frustrated agent wrote:

    "Hi Lance,

    Boy, I hate to complain but it is getting very aggravating to look up listings and you think you are looking at a ranch if you go by the STYLE and then you find out it's a double wide when you read through the description. I understand what the agent is trying to do because so many people will not give them a second look if MANUFACTURED is listed under style but I would think what is fair is fair. If the rules say to disclose in the listing the true style than I think everyone should have to do it. Thanks for any help you can give on this matter."

    Thanks,
    Lance
  •   Posted: Sunday, July 9, 2006 11:11am

    I have noticed a spate of personal and/or company information on the MLS in the "description" and "directions" boxes. As a reminder, the MLS rules do not allow any personal and/or company information in these fields.

    Section 1.2 Detail on Listings Filed With the Service
    A listing agreement, when filed with the Multiple Listing Service by the Listing Participant, shall be complete in every detail. Listings must be submitted in legible form or typewritten. Names, phone numbers, web site addresses, company slogans or any language that infers identification of a company or individual shall no longer appear in the "description" section or on photos of listings. Further, all data fields are to be populated with requested information only. The description section of listings shall contain only property specific information regarding the property listed for sale. MLS photos must reflect real property for sale as the prominent subject matter.

      Posted: Wednesday, June 14, 2006 11:42am

    During a recent meeting of SLCBOR members, I was asked if a listing contract needs to show the split between Listing Company and subagent and/or buyer agent on it. (Note: The Board approved listing contract has this on it, however some listing contracts that brokers have had their legal counsel draw up evidently do not).

    The short answer is that according to NYSAR Legal Counsel, Anthony Gatto, the seller has a right to know what the split is and that it is supposed to be in the contract.

    -Lance

      Posted: Friday, March 10, 2006 9:15am

    When closing a listing, please be sure you are putting the amount of the seller's concessions in the box where it says "Seller Concession Amount" not in the box labeled "Seller Concession." On the new "full" summary sheet, a number in the "amount" box is what triggers whether or not the concessions show.

    Thank you,

    Lance

      Posted: Friday, November 11, 2005 10:50am

    Too busy to prepare for that weekly sales meeting? REALTOR Magazine has already done the work for you. Simply select a meeting topic listed, print and go. Each prepackaged meeting includes ready-to-go agenda, handouts, activities, and talking points. Click Prepackaged Sales Meetings.

      Posted: Tuesday, October 25, 2005 3:41pm

    The Board Office has received several inquiries from members in both Associations about when a REALTOR® can and can't contact someone's client.

    Article 16 of the Code of Ethics states:
    REALTORS® shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with clients. (Amended 1/04)


    For the most part, a REALTOR should not contact another REALTORS®' client unless he/she has express permission to do so from the REALTOR®, has been contacted by the client and is returning the message, or is offering a different service (e.g. an appraiser offering services).

    A relevant case found in the Code of Ethics and Arbitration Manual is Case #16-18: Assumed Consent for Direct Contact. It reads:

    REALTOR® A, who held an exclusive listing of Client B's property, invited REALTOR® C to cooperate with him. When REALTOR® C, shortly thereafter, received an offer to purchase the property and took it to REALTOR® A, the latter took REALTOR® C with him to present the offer to Client B, and negotiations for the sale were started. The next day, REALTOR® C called on Client B alone, recommended that he accept the offer which was at less than the listed price, and Client B agreed. The contract was signed and the sale was made.

    These facts were detailed in a complaint by REALTOR® A to the Board of REALTORS® charging REALTOR® C with unethical conduct in violation of Article 16, having made his second contact with the client without his, REALTOR® A's, consent.

    At the subsequent hearing, REALTOR® C defended his actions on the basis that since he had been invited to cooperate with REALTOR® A, and particularly since REALTOR® A had invited him to be present when his offer was presented to the seller, REALTOR® C had assumed that he had REALTOR® A's consent for subsequent direct contacts with Client B. He stated further that he had a good reason for going alone because in his first visit to the client, REALTOR® A had undertaken to present his, REALTOR® C's, offer without fully understanding it and had made an inept presentation. Questioning by members of the Hearing Panel revealed that there had been some important considerations that REALTOR® A had not understood or explained to the client.

    The conclusion of the panel was that the consent of the listing broker required by Article 16, as interpreted by Standard of Practice 16-13, cannot be assumed, but must be expressed; and that REALTOR® C had violated Article 16 by negotiating directly with REALTOR® A's client without REALTOR® A's consent.


    While the case deals with a subagent who presented an offer, it can be seen that this could applied to a wider array of situations where a REALTOR® contacts another REALTORS®' client such as to solicit the listing, present an offer, arrange a showing, etc. all without contacting the listing broker first.

    To view the Code of Ethics go to:
    http://www.realtor.org/mempolweb.nsf/pages/code

    To view the Code of Ethics and Arbitration Manual go to: http://www.realtor.org/2005CEAM.nsf/pages/homepage (requires sign in as a REALTOR®)

      Posted: Monday, October 10, 2005 9:59am

    SEVERAL REMINDERS ABOUT LISTINGS

  • Fair Housing - There have been advertisements or MLS descriptions recently with words that are possibly against Fair Housing laws. To check questionable wording, click here for NYSAR's list. Remember, to describe the property not the type of person who would purchase it.

  • Property Showings - If a property can not be shown until some future date, it CAN NOT be put on MLS. By definition, MLS involves compensation AND cooperation.

  • Price Changes must be sent to the MLS. There have been a number of "$1" changes recently. Unless an agent has a signed change from the owner(s), the listing price can not be changed. This is a LEGAL requirement as well as part of the Code of Ethics (Article 9 states that all agreements/changes be done in writing) and an MLS rule.
    Section 1.4 Change of Status Listing
    Any change in listed price or other substantial change in the original listing agreement shall be made only when authorized in writing by the seller and shall be filed with the Service within three (3) business days after the authorized change is received by the listing broker.
  •   Posted: Monday, October 4, 2004 11:59am

    There are issues that have come up with closed listings:

    1) Concessions: The closed price entered on the MLS should be the entire amount including concessions. The concession amount needs to be noted in the "Seller Conc. Amount" box on the line below the closing price. When a property gets appraised, the appraiser subtracts the concessions from the closing price to get net transaction value or cash equivalent sales price.

    2) Pending Date: This is the date that purchase contract was signed. It is not the projected closing date. Pending date does affect the days on the market because the DOM is calculated by taking the number of days between the list date and the pending date.

      Posted: Wednesday, September 22, 2004 11:04am

    Here is the official US Postal Abbreviations list: http://www.usps.com/ncsc/lookups/abbrev.html.

    If everyone can start using the abbreviations listed in the 3rd column of the street suffixes (with no punctuation), it would help to keep the descriptions more uniform looking and also help people who are doing a listing search.


    Additional Webpages:

    Zip Code Lookup: http://zip4.usps.com/zip4/welcome.htm

    US Postal Acronyms: http://www.usps.com/cpim/ftp/pubs/pub32/acron.htm

    Reverse Phone Number Lookup:
    http://www.reversephonedirectory.com/

      Posted: Thursday, May 20, 2004 2:07pm

    PLEASE remember when entering a listing into the computer you have to change the default listing date to the day the contract was signed, NOT the day you enter it into the computer.

      Posted: Wednesday, March 24, 2004 10:25am

    We have gotten several complaints that mobile and manufactured homes are being put in as "ranch" under style. The term "ranch" should not be used for these types. Both appear as a separate style type.

    Thanks,
    Lance

      Posted: Thursday, June 12, 2003 1:39pm

    A few people have had trouble seeing the new picture they upload when they are replacing an old listing photo, such as replacing a dirty snow picture with a lovely, sunny, green landscaped home picture. If you call the Administrator for your board and they are seeing the new picture while you are seeing the old one, Caching is most likely the cause. Caching is how your computer runs faster on the internet. It stores the pictures you view so that if you go back to the same web site, or listing photo. It looks for it on the hard drive of your computer instead of downloading it off the internet.

    The Cure

    1 Go to Tools menu in your explorer window.

    2 Click on Internet options.

    3 Under the General tab find the Temporary Internet Files, and click on delete files.

    This is a good thing to do on a regular basis as the hard drive gets bogged down with all these temporary files.

      Posted: Friday, April 11, 2003 10:41am

    Quite a few listings recently have been showing up with bogus information in the required fields (e.g. lot size of 1, room dimensions of 1x1, etc.). Please remember that your fiduciary duty is to your client. If your client is the seller, it is in his/her best interest that the information about his/her property be accurate as possible. Similarly, if your client is the buyer, you need to try to provide the most accurate information you can. This is hard when the listing has false data.

    In the same vein, pending and closed information is not being put in in a timely manner. Not only does that mess up the statistics that I provide to NYSAR and the Watertown Times (I give these to both by the middle of the next month), it also makes our MLS look bad when the information is not accurate and this frustrates buyers and agents. Please try to provide the needed information in a timely manner so your fellow agents can sell effectively. In the long run, all will benefit from this accuracy and courtesy.

    Thanks for your help and cooperation.
    Lance

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