Start Your New Year on the Right Track

MRIS is committed to maintaining the best, most accurate listing information available in the MLS system.  One of the responsibilities of the MRIS Compliance Department is to answer subscriber questions on the MRIS Rules and Regulations and MRIS policies. To help you avoid common compliance notifications, here are the 10 questions most often asked by MRIS subscribers in 2014. 

1. HOW DO I REMOVE/RESET DAYS ON MARKET (DOM)?
The DOM is a part of the property’s listing history and cannot be removed or manipulated. The DOM resets if a property has been off the market for 90 consecutive days or is sold. Any attempts to manipulate the DOM will result in a fine.

2. MY SELLER DOESN'T WANT THE PROPERTY SHOWN YET. DO I NEED TO ENTER IT INTO MRIS?  
Yes, you have a fiduciary responsibility to protect and promote your client’s interests. An Active listing must be available to show immediately upon entering the listing. While your client is preparing the property for showing, you may enter the listing into the Coming Soon status for up to 21 days. If the listing is in Active status and is not available for showing, change the status to Temp Off.

3. IS THERE A TIMEFRAME FOR TEMP OFF STATUS?
Yes, Temp Off is a limited-use status that can be used for up to 14 days. However, we recognize that some situations may take longer than others to resolve. Please contact the Compliance Department to request an extension if your circumstance requires additional time.

4. IS AN IMAGE OF THE MAIN EXTERIOR REQUIRED?
Yes, if “Lister will upload all” is the selected photo option. Once a listing is submitted, an image or photo of the main exterior must be submitted within 48 hours, excluding weekends and holidays, unless the seller has requested in writing that no photos are to be included as part of the listing. This must be designated under Photo Options as “No photo per seller.” The exception to this policy is if a listing in Coming Soon status is not required to have an image. However, once the listing’s status changes, the above rules will apply.

5. CAN I INCLUDE TEXT OR CONTRACT INFORMATION ON MY PHOTOS/VIRTUAL TOURS?
No. Text, logos and contact information are not permitted on Photos or Virtual Tours.

6. A CONTRACT WAS SIGNED BUT WE'RE AWAITING BANK APPROVAL. DO I HAVE TO CHANGE THE STATUS?
Yes. Ratification is between the buyer and seller. MRIS Rules require that all changes in price or status are updated within two business days of the effective date of change, excluding weekends and holidays.

7. IS THERE A WAY TO KEEP TRACK OF PENDING CONTRACT, CONTINGENCY AND SETTLEMENTS DATES?
Yes. We provide both the Listing Compliance Report and the Listing Contingency Expiration Report to monitor your date-based listings, available at MRIS.com/compliance. Also, you may set up alerts in Keystone to remind you of upcoming dates.

8. CAN I SHARE MY USER ID AND PASSWORD WITH CLIENTS, MY ASSISTANT OR TEAM MEMBER TO SEARCH FOR LISTINGS?
No. Anyone affiliated with your office or team is required to have his or her own MRIS ID and Password to access the system. The combination of your User ID and Password will allow someone to access your personal information, edit any listings in Keystone for the branch office and view confidential information. 

9. CAN MY FINE BE WAIVED?
A waiver request must be submitted within 20 days of being assessed, and these must be submitted in writing using the Appeal of Fine form located under the Compliance menu on the MRIS.com website. You will need to log in to view this form.

10. HOW DO I REPORT A VIOLATION?
You may use the “Confidentially Report a Violation” button on the Full Listing Display in Matrix. You may also send an email to compliance@mris.net with the listing information. The Compliance Department will investigate the matter to determine if a compliance violation has occurred.

Want more information? Log in to MRIS.com to view helpful resources on the MRIS.com/Compliance page. If you have other questions or concerns, please contact the Compliance Department at compliance@mris.net or 301.838.7140. Your compliance keeps the MLS data accurate!  

Michelle Yam is the MRIS Compliance Department Manager