Tag: Rules and Regs

MLS data is always evolving and being updated. Inaccurate listing data can quickly deflate potential buyers’ perceptions of your clients’ home. NorthstarMLS safeguards market information so you can do your job confidently. When you login to the MLS, you can be assured that you’re seeing the latest, most accurate information about a property. The rules we operate by, the decisions we make, the regulations we enforce: all are created through …

Rules Safeguard your MLS Data Read More »

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Each week the NorthstarMLS Rules & Regulations Department receives reports of potential issues with listings in the Matrix System. You’ve probably run across these at some point. Anything from inaccurate data – wrong square footage measurements or photo issues – such as a company sign in the photo, to name a couple examples. What’s the Need for Rules in the MLS?  In quarter one of 2016, the Rules & Regs Department addressed 5,134 listing violations …

Rules Roundup: The Q1 2016 Summary Read More »

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Rules Roundup – Are You Putting the Correct Status Updates on Your Listings? Inaccurate listing statuses and untimely listing updates in the NorthstarMLS database continues to be one of the most common complaints to our Rules and Regs Department. In fact, in 2015 there were over 850 violations for incorrect statuses or contingencies. It has an adverse effect on your sellers, buyers and the entire NorthstarMLS community who …

Rules Roundup: TNAS and Statuses Read More »

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Rules Roundup – Update Your Projected Close Dates! Getting ready to head out to celebrate or take a vacation this holiday season? Take a few minutes and make sure the projected closed dates (PCD) on all your pending listings are updated. Currently, NorthstarMLS has over 200 listings that have a projected closed date of Friday, Dec. 25. During this busy time of year it can be easy to …

Rules Roundup: Update Projected Closed Dates Read More »

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Rules Roundup – Status Change Over the Holidays Are you working with a seller who would rather not schedule showings over the holidays? If the property is going to be unavailable for showing for more than 24 hours, the listing must be changed to TNAS (Temporary Not Available for Showing) Status. Those days won’t count toward the Days On Market and the listing can go back to Active …

Rules Roundup: Status Change for Holidays Read More »

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“I’ll trade you these Vikings versus Packers tickets for a list of homes that are pending – deal?” Seems like a great offer, but did you know that you would be in violation of MLS rules (subject to a $1,000 fine) if you accepted it? The NorthstarMLS Rules and Regs department has received complaints about a use of MLS data not allowed by MLS rules. A recent example …

Rules Roundup: Soliciting Read More »

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Rules Roundup – Third Quarter Stats Summary In quarter three of 2015, the NorthstarMLS Rules and Regulations Department addressed 7,432 listing violations – 98% of them were waived or no fine was given. This infographic highlights the top 5 incorrect data issues, top 5 rule violations and other issues reported by our rules & regs staff during the third quarter of 2015. Submit Your Own Rules Roundup Question …

Rules Roundup: Q3 Stats Summary Read More »

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Tip of the Week – Past the Projected Closed Date Have you ever received a notice for a listing that is “Past the Projected Closed Date”? It is one of the most common violations that the NorthstarMLS rules and regulations department addresses – over 14,000 violation notices could have been avoided in 2014 if agents updated their pending listings. This video will walk you through how to create …

Tip of the Week for 3/16 Read More »

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Rules Roundup – Top 8 NorthstarMLS Rule Violations of 2014 It’s hard to believe, but 2014 is well over a month behind us already. In 2014, real estate transaction volume for over 66,000 properties valued at $15.2 billion was conducted through the NorthstarMLS system. We gave customers access to more than 45,000 Active listings, more than 1.3 million comparable and Sold properties, and millions of property records from all …

Top 8 Rule Violations of 2014 Read More »

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