How Do the MLS Changes Impact You as an Agent?

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There are several changes on our local MLS that happened November 19 we think you should know about. First, the long-anticipated wait for the standardized new purchase agreement is over. On November 19th, it became available to all members. We hope that this purchase agreement will make your jobs more efficient and will make the process easier for everyone involved. We encourage agents and brokers to take advantage of this great tool.

Secondly, the new policy for off-market listings debuted on November 19. A new status, "active, no showing", will allow you to have information on the property if it's a "coming soon" or "off market" property. Realtors will be able to tell their clients about such properties, but they won't be syndicated through IDX and other external websites.

If you do take an off-market listing, you have to fill out an additional addendum to your listing agreement explaining the benefits of the MLS and have your client sign it. Make sure you talk to your managers at your offices about this policy, as there may be fines for not following procedures. There have also been several MLS input changes that were recommended to us and went into effect November 19 as well.

Looking a few years down the road, the Board of Directors from the NAR Conference voted to move Quadrennial Ethics training to every two years. Additionally, they adopted a policy called the Code of Excellence, which has to do with more training for agents, so be aware that you may have to do more training in the upcoming years.

If you have any questions about these policy changes, don't hesitate to give us a call or shoot us an email. We know them well and would love to help you better understand them. Thanks, and we hope to hear from you soon!