Compliance

Be In Compliance With MLS Rules & Regulations
Keep Your Data Accurate and Up To Date
as of 06/27/2008

A Quick Refresher Course

1. Withdrawn/Expired Listings-not Reported as Sold as of 02/01/2008
   1. If a Withdrawn/Expired listing shows up in Public Records as Sold, and if the Listing Agent refuses to correct the listing, then The MLS®/CLAW will create a New listing, by copying the Withdrawn/Expired listing but with the Listing Agent and Selling Agent as "The MLS®/CLAW". The listing will be immediately changed to Sold status utilizing the Public Record information. If the Sold Price is not available in Public Records, then "Sold Price is not published yet." will be added to the first line of the Public Remarks. The Sold Price will be corrected, when Public Record information becomes available. The Listing Agent of the Withdrawn/Expired listing will be notified of the action taken.
2. Late Submission
   1. New Listings, Status and Price Changes, Sales, Cancellation of Pending Sales, etc. must be submitted to The MLS within two (2) business days, not three (3). Late Submission Fee: $250.00.
   
   
3. Miscellaneous Violations
   1. Major Objectionable Words, Names, Telephone Numbers, E-mail/Website Addresses, etc. are not allowed in the "Remarks" section.
   2. Incorrect Area and/or Category
   3. Duplicate Listing
   4. Contact Information in a Listing Photo
      Miscellaneous Violation Fees: $250
   
   
4. Reporting of $0 Sold Price - New Policy
   Effective Thursday, May 10, 2007, The MLS®/CLAW will no longer allow the reporting of $0 Sold Price.
   According to the CLAW Rules & Regulations Section 8.1 Listing Agreement and Seller's Permission (items e & f)
   Prior to submitting a listing to the service the Listing Broker shall obtain the written agreement
   of the seller expressly granting the Listing Broker authority to:
   a. File the listing with the service for publication and dissemination to those authorized by the MLS;
   b. Act as an agent for the seller;
   c. Abide by the rules of the service;
   d. Provide timely notice of status changes of the listing to the service;
   e. Provide sales information including selling price to the service upon sale of the property
   for publication and dissemination to those authorized by the MLS and
   f. Publish sales information after the final closing of a sales transaction in accordance with
   these MLS rules (See Section 10.1).

Please contact the Compliance Department
at 310-358-1100, ext. 120
with any questions or suggestions.