Important MLS Policy Changes
Take note: the NWIA MLS committee recently approved several changes to our MLS rules. Members are expected to know and comply with these updates.
- Listings of real or personal property of the following types, which are listed for sale subject to a real estate broker’s license, located within the service area of the Board of REALTORS®, taken by Participants on Exclusive right to sell listing forms and Exclusive Agency listing forms, shall be delivered to Multiple Listing Service by 10:00 am CST the second Board Office Business Day after all necessary signatures of seller(s) have been obtained. EXCEPTION: If a listing is advertised on any other media form, listing must be entered into the MLS by 10:00 am CST the next Board Office Business Day, along with a copy of the signed listing agreement: (Amended 4/18)
- Property disclosures must be uploaded to the MLS when entering the listing.
- You spoke…loudly, consistently, and day after day after day. We heard you! Effective immediately, when you have a property listed and receive an offer from a buyer that is contingent on the selling of a property where they must perform within a certain time frame if another offer comes in, you no longer have to change the status of your listed property to AC (Active with Contingency). Instead under maintenance, you need to mark the status as “Subject to Sale” and then fill in the time frame in a drop field, 24 hours, 48 hours, 72 hours or other. This will appear below the status on Agent Only data sheets to inform you, only the REALTOR(s) will know. It will not show on the customer data sheet, nor will it be disseminated to any website site, this listing will continue to show as active to the public. This change in the AC status mandatory rule only applies to offers of subject to sale, all other mandatory rules remain enforceable.
Questions or concerns can be directed to Kelly at the NWIA office, (712) 255-8810
Questions or concerns can be directed to Kelly at the NWIA office, (712) 255-8810.