Fined $150 by the MLS!
That’s how much a Top Agent Network member told us she was fined recently. Why was she fined? She didn’t submit the required “Authorization to Exclude from MLS” document within 72 hours of getting a signed listing agreement. Until this fine, the agent knew nothing about this MLS rule.
The MLS is critical to your real estate success. You know that. We know that. It is core to how real estate is conducted, all across America.
At Top Agent Network we recognize and support the value of the local MLS. That is why TAN’s Usage Rules strongly state that “Adherence to MLS and Local Rules is Condition of TAN Membership.”
So in case you didn’t know, most MLSs require agents to input listings into the MLS within 24 to 72 hours of getting a signed listing agreement (unless they have a signed exclusion). In reality, usually you and your seller need a few weeks to get everything together before you are ready for prime time exposure on the MLS. In some rarer cases, the seller wants a “quiet”, less public, sale and does not want his home on the MLS at all. Perhaps there is a divorce or some other privacy matter involved.
Regardless of the reasons, if you won’t be putting your signed listing on the MLS for a while, most MLSs require the listing agent to get a signed “Exclude from the MLS” form (or similar) signed by the seller. Generally this form can be downloaded directly from your MLS or association. It typically includes the option to keep your listing off the MLS either for a specific period of time or indefinitely. It also contains some important advisories.
As a TAN agent found out, failure to submit this MLS exclusion form to the MLS could result in unnecessary and avoidable fines to you. It’s far simpler just to follow the rules.
TAN is not an MLS alternative. Rather, we provide a system that adds far greater efficiency and transparency to the Pre-MLS and Non-MLS networking that top agents have been doing for years in small meetings or “around the water-cooler”. TAN gives your property fabulous exposure during the Pre-MLS or Non-MLS phase of your listing.
So please follow the rules. Keep your MLS from turning into your ML-mess!
With staging taking so long these days we should submit one with every listing.
Threatened with $750 fine! Yes, $750. I entered a sold property for “comp purposes” MLS said it needed a “withold from MLS” form AND buyer and seller authorization to publish. I just filed a withdrawn/canceled form with MLS and that made them happy. Isn’t it great we have someone watching out for “OUR” best interests!