SQI Survey Results: Rules and Regulations
Ask any agent/appraiser and they will say there is nothing more frustrating to their clients and themselves than realizing they’ve relied on incorrect MLS information. In order to ensure every NorthstarMLS customer has the most current, accurate and complete property data, MLS rules and regulations have been created and will be enforced on an as needed basis. These guidelines ensure professional data sharing and warrant cooperative behaviors between all MLS users. By doing so, users can maximize their value to their customers and help keep the MLS an effective real estate business tool.
“Our staff works hard at maintaining a reliable database and to prevent listing infractions. But the success of these efforts depend greatly everyone’s cooperation,” said Michael Bisping, Director of Customer Service, who oversees the Rules Department which consists of three technicians that respond to nearly 500 notices from other agents every week. “Everyone in the NorthstarMLS community is in this together. If we all do our part to cooperate, it will reduce inaccurate information and surely make it easier on everyone to reach their real estate goals more efficiently and effectively.”
SQI Survey results revealed that 74% of respondents have an “excellent” or “good” understanding of the current MLS rules that are in place. Even the most adept agent can make an innocent mistake every now and then. But if agents comply with these four simple rules, nearly half of NorthstarMLS Compliance Notices and Fines would disappear:
1. Enter a listing within 2 business days of the listing contract effective date;
2. Enter a photo within 2 business days of entering the listing;
3. Ensure all public fields and supplements are free from agent and 3rd party promotion;
4. Update pending listings after the closing or when the closing is postponed.
“Ninety five percent of all notices to correct a listing or cure a violation result in no fine, or I waive it,” Bisping said. NorthstarMLS President and CEO, John Mosey, is frequently quoted as saying that someone has to be “bound and determined” to get fined by the MLS. These numbers show that most of our service’s users want to do what is right.
If you have any questions about MLS rules, please contact the NorthstarMLS Rules Department at 651-251-3210, 8-5 PM (Monday-Friday). You can also check the NorthstarMLS “Rules Roundup” page. A new feature where we will periodically spotlight an MLS Rules topic to educate users on some of the most commonly misunderstood issues of the NorthstarMLS system. Are you on Facebook? The “Rules Roundup” page can also be accessed through the NorthstarMLS Facebook page.