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Greater Northwoods MLS Guidelines
The following is a compilation of policies and rules often encountered by brokers and agents interfacing with the MLS system. If further clarification is required please contact the MLS Coordinator at the Board offices: (715)356-3400 or northwoodsrealtors@gmail.com
- Listing completeness
- Listings need to be entered into MLS with complete information to the extent it is available. A listing agreement, when filed with the Greater Northwoods Multiple Listing Service by the listing broker, shall be complete in every detail which is ascertainable as specified on the property data online form. (R&R Sec. 1.2; P&P Sec. 3.A)
- Late listings
- Listings need to be entered into MLS within 5 business days of the contract signing. If late, please file a Late Listing Waiver form with explanation and possible documentation. (P&P Sec. 3.A)
- Photos
- A minimum of 1 photo of the property needs to be included in the MLS listing. The photo must be a current, accurate representation of the property. Generic/stock photos of trees, land or shoreline is not representative of that property, nor is a 3-year old photo. Photos may not be used from a previous listing without permission. Photos can only be of the property offered for sale, not nearby attractions, views, etc. Photos may not contain For Sale signs or any other broker identification or branding. Good photos sell property, so submit quality images. Easy-to-use tools are available during the submission process. When the season changes, it is advisable to update your photos to keep your property looking "fresh". (P&P, R&R)
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Status changes
- All status changes need to be entered within 72 hours. The statuses are Active, Active O/C, Pending, Sold, Expired, or Cancelled.
- Amendments or other requests to withhold offers are strictly prohibited and a violation of GNMLS rules. If the seller does not want the status to be communicated through the MLS, the listing must be removed from MLS and a MLS listing waiver and copy of the amendment sent to the MLS office.
- The Pending date is to be entered when the contingencies have been removed, not days or weeks into the future nor upon closing.
- Bump clause exception: A listing with a pending offer that has a bump clause may remain in Active status with a notice as such entered into the REALTOR® Remarks section.
- The Closing date is entered upon final closing. (P&P Sec. 3.F, G)
- Single listing per address
- A property listing may be represented in the MLS by only one broker because only Exclusive Right and Exclusive Agency contracted properties may be marketed. Offers of compensation to potential procuring-cause brokers must be communicated in the MLS and only one broker has the authority to offer compensation.
- A property may be marketed as both residential and commercial as long as both are accurate representations. If a listing is entered in the MLS Database in both the residential and commercial categories, only one of the listings may be claimed as sold, (The other listing is then cancelled) unless the Participant chooses to divide the sales price between both listings. (P&P Sec. 3.H)
- Residential property offered in multiple acreage configurations may be represented in the MLS by up to a maximum of three (3) listing numbers. Other configuration possibilities may be described in the property description remarks or supporting documents section. (P&P Sec. 3.I)
- One Party Listings
- After the sale is closed and the other broker has canceled their listing, enter as a new listing and mark it as sold to receive MLS credit for the sale.
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Co-list – out of area
- A listing may be co-listed with an out-of-area broker and be eligible for entry in the GNMLS. The GNMLS member will be the primary listing office. (P&P Sec. 3.D)
- Non-member listings
- At the time of sale enter the listing as you normally would showing yourself as the listing agent/office and close the sale with information as normal, then call the board office to change the listing agent to non-member.
- The selling agent will get credit for the sale even though the listing was outside of GNMLS.
- Branding
- No broker branding may appear in MLS listings because this jeopardizes our status with the IRS as a non-profit. P&P Sec. 5.A, B, E). See Note 1 below.
- Description field may not contain the broker name, phone number, license number, website address or any other information that identifies the broker or leads to another identifying source.
- For Sale signs in photos is prohibited.
- Virtual tours must comply with same restrictions as Description field and photos.
- The display of information obtained via IDX feeds may not contain branding.
- Directions field
- Only road directions to the property may be entered in this field. Verbiage such as "Call LO/Listing Agent" etc. is not allowed in this field. (P&P Sec. 5.C)
- Streets and Lakes
- Must be taken from tax bill or plat map.
- Must be within our current counties (shown in gray here).
- No private roads can be entered in MLS. (P&P Sec. 5.G, H)
- Lakes must be on the DNR recognized lake registry. All others must be left blank and will be auto-populated as “unnamed”. (P&P Sec. 5.I)
- Only lakes with frontage or deeded access may be named.
- Deeded Access – the REALTOR® may include the Lake name in the lake field if there is actual deeded lake access, provided the REALTOR® also includes deeded access in the site influence and property description. No frontage may be listed in the water frontage field if it is shared access. (P&P Sec. 5.J)
- Counties and Townships
- No new counties or townships will be added to GNMLS; list as OT-Other.
- Limited Service Listings
- Limited Service listings must be clearly designated by checking the LSL box in Broker load and a notation in the REALTOR® Remarks/SPAL field. (P&P Sec. 5.O)
- Exclusive Agency Listings
- Exclusive Agency Listings must be clearly designated by checking the EA box in Broker load and a notation in REALTOR® Remarks/SPAL. (P&P Sec. 5.P)
- Listing removal from MLS
- Broker or seller must provide proof of an agreement to remove the listing. The seller does not have a unilateral right to demand removal without consent of the listing broker. (R&R Sec. 1.5)
- Expiration
- A listing will automatically expire at the contract expiration date.
- If the listing has auto expired and you have an extension, re-open the listing in data entry before changing the expiration date to the new amended date.
- Extensions and renewals
- Must be signed by sellers (and filed with MLS).
- Jurisdiction
- Only listings of the designated types of property located within the jurisdiction of the GNMLS (Oneida, Iron, Forest, Vilas, and Price Counties) are required to be submitted to the Service. Listings of property located outside the GNMLS’s jurisdiction will be accepted if submitted voluntarily by a Participant, but cannot be required by the Service. (R&R Sec. 1.11)
- Exempted Listings: If the seller refuses to permit the listing to be disseminated by the Service, the Participant may then take the listing (“office exclusive”) but not disseminate the listing to the Participants. A listing waiver form must then be filed with the GNMLS board office; the waiver shall be accompanied by signed documentation from the seller. (R&R Sec. 1.3)
- Broker-owned properties
- Must be disclosed in the general remarks field and optionally in the CSPAL.
- If a Participant or any licensee affiliated with a Participant has any ownership interest in a property, that person shall disclose that interest when the listing is filed with the GNMLS. (R&R Sec. 5.1)
- Broker purchase
- Must be disclosed to the listing broker.
- If a Participant or any licensee affiliated with a Participant wishes to acquire an interest in property listed with another Participant, such contemplated interest shall be disclosed, in writing, to the listing broker not later than the time an offer to purchase is submitted to the listing broker. (R&R Sec. 5.2)
- Compensation
- Is an issue to be decided between brokers.
- MLS listings MUST include an offer of compensation as either a percentage of gross sales or a definite dollar amount.
Note 1. Why branding cannot be allowed:
Tax Exempt Status of an Association of REALTORS®
Section 2 Limitation on Content of Association Advertising
The tax exempt status of an association of REALTORS® can be jeopardized if it includes the names of REALTORS® in advertisements it places.
Section 501(c)(6) of the Internal Revenue Code provides for the exemption of a real estate association which is not organized for profit provided no part of the net earnings of the association inures to the benefit of any private shareholder or individual.
Revenue Ruling 65-14, C.B. 1965-1, 236 holds that the publication of advertisements containing listings of the names of individual members constitutes advertising for the individuals so advertised and is thus considered the performance of particular services for such individuals rather than an activity aimed at improvement of general business conditions. Section 1.501(c)(6)-l of the Income Tax Regulations confines the activities of a real estate association exempt under Section 501(c)(6) to those directed to the improvement of business conditions of one or more lines of business rather than the performance of particular services for individual persons. (Amended 11/04)
P&P – Policies and Procedures
R&R – Rules and Regulations
http://www.northwoodsrealtors.org/html/governance.html
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