Introduction:

We’re here to guide you through the process of selling your home, including helping you avoid common pitfalls that can lead to fines from the MLS. Understanding these top violations can save you time, stress, and money. This article is designed to educate, not alarm, and to provide you with the resources you need for a smooth real estate experience.

1. Incorrect Listing Information

Entering incorrect information in your listing, such as an inaccurate sold price or wrong status, are two of the most common violations. It’s crucial to ensure all details are accurate to avoid fines.

• Fine: Up to $250 for incorrect listing statuses, including failure to update to “Pending” or “Sold” within 48 hours.

2. Unauthorized Use of Media

Using photos or videos that contain watermarks, contact information, or were copied without permission can lead to significant fines. Always use your own photos or those authorized for your use, and ensure they comply with MLS guidelines.

• Fine: Up to $1,500 for inappropriate or unauthorized media.

3. Improper Placement of Information on Description

Certain information should never be placed in your description. This includes access codes, lockbox combinations, or contact details, talks about compensation, seller financing and more. Additionally, URLs, hashtags, and social media addresses should not be included in your listing.

• Fine: Up to $500 for violations such as incorrect placement of URLs, showing instructions, and other sensitive information.

4. Failure to Respond to Inquiries

As a seller, it’s important to respond to inquiries from potential buyers and their agents within 24 hours. Failure to do so can lead to your listing being withdrawn from the MLS.

• Action: Listing withdrawal for failure to respond to inquiries in a timely manner.

5. Minimum Photo Requirements

Every listing must include at least one photo representing the front of the property. Failing to meet this requirement can result in fines.

6. Publishing Conditional Offers

Publishing a conditional offer of compensation in your listing is not permitted. All offers of compensation shall be negotiated outside of the MLS. Real Estate commissions are negotiable and not set by law.

• Fine: Varies based on the specific violation related to compensation offers.

7. Misuse of Media

Inappropriate or inaccurate photos, virtual tours, or videos that contain text, embedded links, or watermarks can lead to fines. Always ensure your media content meets the MLS standards.

• Fine: Up to $1,500 for misuse of media.

Helpful Resources:

For a complete list of rules and regulations, please visit our MLS Rules and Regulations page.

Conclusion:

By staying informed about these common violations, you can avoid fines and ensure a smooth selling process. Remember, these rules are in place to maintain a fair and efficient marketplace for everyone involved. If you have any questions or need assistance, our team at Listed Simply is here to help guide you every step of the way.