Section 2: Listing Entry Requirements
This article covers MLS Now Rules sections 2.1 through 2.8: 2.1 Listing Agreement Requirements, 2.2 Mandatory Submission Deadlines, 2.3 Property Types Accepted, 2.4 Optional Listing Entry, 2.5 Required Information, 2.6 Required Disclosures, 2.7 Listing Accuracy, 2.8 Changes to Listings.
2.1 Listing Agreement Requirements
Listing agreements for listings to be submitted to MLS Now must expressly authorize the broker to submit the listing and to provide the agreement and any amendments to MLS Now upon request. They must include a list date, a definite and final termination date, and the full gross list price (unless auction), and any other terms required by these Rules.
Within one business day of MLS Now's written request, the Participant must provide to MLS Now copies of written documentation required by these Rules, including listing and purchase agreements, amendments, seller marketing/showing instructions, and settlement statements, for verification of rule compliance and accuracy of information reported.
2.2 Mandatory Submission Deadlines
A listing must be filed by the earlier of: (i) two business days of a fully signed exclusive listing agreement for any property for sale within the Service Area, or (ii) one day after marketing a property to the public. If the listing is not yet being shown at all, the listing must be entered with the "Temporarily Off Market" status.
"Marketing a property to the public" includes, without limitation, window displays, yard signs, digital marketing on public-facing websites, digital communications, multi-brokerage listing sharing networks, and applications available to the general public.
If a seller instructs that property information not be disseminated to the public using MLS Now's services, the listing must still be submitted to MLS Now by the above deadlines and designated for no outside distribution (i.e., "Internet No"). Participants must have the seller(s) complete the Seller Opt-Out of Internet Authorization Waiver form for such listings.
Prior to submitting a listing, the listing Participant must verify that the same property is not already listed in MLS Now by another listing broker.
2.3 Property Types Accepted
MLS Now accepts the following property types and subtypes: residential (detached/attached), condominium/cooperative, multifamily (2-4 units), residential income (5+ units where supported), manufactured housing, vacant land (residential and nonresidential), commercial sale, commercial lease, business opportunity, rental (long-term and short-term where permitted), new construction, and auction.
2.4 Optional Listing Entry
In addition to mandatory-submission listings, MLS Now accepts:
2.4.1 Listings outside MLS Now's Service Area.
2.4.2 Rental listings.
2.4.3 Auction listings may be submitted if in full compliance with law and these Rules. Auction listings must:
- Include a valid listing agreement establishing agency and authority to submit to MLS;
- State an acceptable list price and minimum acceptable bid if applicable;
- Clearly identify the listing as an auction and disclose material terms, including date/time/place (or platform), buyer's premium, inspection terms, pre-auction offer acceptance policy, and buyer broker registration procedures;
- Disclose in remarks (private or public) any fees the buyer must pay to participate in the auction or to make the purchase;
- Change status to Pending upon acceptance of a bid that ends the auction such that no additional bids are taken;
- If there is a requirement to use an online auction website to submit an offer/bid, that property must be available for auction bidding on the website and provide the ability for agents to register their prospective buyers on the website.
Online Bidding Sites (Non-Auction): Listings involving an online bidding process not conducted by a licensed Auctioneer Participant may not use the word "auction" and must be marked "Auction = No." Any reference to the bidding website may only be entered in the Online Bidding URL field and Private Remarks.
2.4.4 Net listings and open listings are not accepted.
2.5 Required Information
At the time of filing a listing, Participants must include a property address. If no address exists, a parcel identification number may be used. If neither is available, a legal description sufficient to describe the location is required.
All remarks are subject to applicable advertising and fair housing laws.
Public remarks may include unbranded property descriptions only. The following types of information may NOT be included in public remarks:
- Contact information of any kind;
- Branded content;
- Links to external websites of any kind;
- Showing instructions or open house information;
- Information regarding lockboxes, alarms, gate or other security codes, or occupancy status of the property;
- Information directed toward agents or brokers, including references to compensation or bonuses;
- Solicitations or invitations for the public to contact the listing agent or broker;
- Content that violates Fair Housing law or that is deemed discriminatory, illegal, defamatory, offensive, or otherwise inappropriate;
- Any seller-paid concessions offered — these must be entered only in the designated concessions fields, not in remarks.
Private remarks may include contact information, access terms, contingency notes, lender information, and other broker-to-broker communications as permitted by MLS Now.
Virtual tour links must be placed only in designated fields.
New Construction Listings: Any Residential Property listed in the MLS that requires a new construction building permit must be designated in the system as a NEW CONSTRUCTION LISTING (NCL). Upon final closing, the Listing Broker shall report or input in the MLS as 'sold' and report the selling price within 14 calendar days of the final closing date.
2.6 Required Disclosures
Participants must disclose:
- Potential short sales when reasonably known to the listing Participant. A short sale is a transaction where the sale price is insufficient to pay the total of all liens and costs of sale, and the seller's lienholder(s) agree to accept less than the amount owed.
- Properties co-listed by a Participant with a non-Participant must be submitted on the Participant's listing agreement and indicate that showings are to be arranged through the Participant's office or directly with the seller/lessor.
- If a Participant or any affiliated licensee has any interest in a property to be disseminated through MLS Now.
2.7 Listing Accuracy
Participants and Subscribers must submit accurate listing information and correct any known errors. MLS Now communicates information verbatim as filed by the Participant and disclaims responsibility for its accuracy. Each Participant agrees to hold MLS Now harmless against any liability arising from any inaccuracy or inadequacy of the information such Participant provides.
Listings must accurately reflect present and proposed use per zoning or other applicable law and complete all required subtype fields and other required fields.
MLS Now may request documentation to verify corrections; Participants must correct inaccuracies and provide documentation within two business days of request.
MLS Now may edit or remove inaccurate content and may remove listings for failure to timely correct inaccuracies.
Any tax amount entered must be the gross amount of the latest full year taxes.
Assessments reasonably expected to apply to a buyer must be identified in the listing information.
2.8 Changes to Listings
Changes to price, terms, remarks, and other listing fields must be authorized in writing by the seller(s) and be updated in the MLS within two business days of the effective date of the change. Copies of any seller instructions must be provided within two business days of MLS Now's request.
Properties to be sold separately must be individually indicated and published. When part of a multi-unit listing sells, the listing must be updated accordingly.
MLS Now may remove listings and information for a Subscriber's repeated failures to correct material errors.