Presentation on theme: "MLS Rules and Regulations Tools and information Fines."— Presentation transcript:
MLS Rules and Regulations Tools and information Fines
Accessing KCBOR MLS System Welcome New members to our local Multiple Listing service. Website : (no WWW’s) kingscounty.rapmls.com Logon the system using your User Id and Password Please note that all broadcasts are sent to notify you of changes and important information involving the membership. Please read at your leisure. Home page contains information on board staff, Realtor® Property Resources (RPR), MLS Connect, And Rapattoni
Emailed to you with your Welcome to KCBOR MLS Packet. MLS Orientation- brief review MLS Rules and Regulations MLS policies Harassment policy Billing Schedule MLS explanation of fines sheet. All these forms are also conveniently located on Links/Links and documents in the Rapattoni system.
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PurposeMultiple Listing Service Committee Participation and Authorize Access Clerical Users MLS Fees and Charges Listing Procedures Scope of ServiceCaravan Gathering FTP/RETS/VOW
Purpose Establish legal relationships with other participants Blanket unilateral contractual offers of compensation and cooperation. Covers the market area of Kings County Combined database and governing committee is referred to as Kings County Board of Realtors Multiple Listing Service “KCBOR MLS”
Multiple Listing Service Committee Governed by our local MLS Committee- comprised of approximately Five members Reviews Issues Makes Recommendations to the Board of Directors Also reviews other related functions Lockbox System Tax database IDX and VOW Issues KCBOR MLS Committee members- oversee contractual relationships related to these services
Participation and Authorized Access Qualified to gain access into the MLS are …….. Broker Participants Salesperson Subscribers Appraisers Clerical users who access the MLS only on behalf of the MLS participant for whom they work Membership requirements include – Valid California Real Estate (or Appraiser) license Offers and/or accepts compensation (in the capacity of a real estate broker) Signs a written agreement to abide by the Rules Pays all applicable MLS Completes this required orientation program
Clerical Users Regardless of whether licensed or unlicensed Individual under the direct supervision of participant or subscriber Perform only administrative, clerical tasks that do not require a license Authorized for very limited MLS access- under the direct supervision of the participant or subscriber for whom they work May not provide any MLS information to person other than the MLS participant or subscriber for whom they work Not eligible for lockbox privileges
MLS Fees and Charges Broker Participants receive quarterly billing statements electronically for MLS Fees Policy regarding unpaid balances due… Broker responsible for payment of total MLS fees billed for the whole office which includes members and admin Late fees assessed to Broker upon the delinquent date (always the 10 th of the month due) Late fee is 10% of total bill Discontinuation of all Broker MLS services for non-payment of dues not paid by the cut-off date Reinstatement fee assessed to Broker upon the cut-off date Payment Schedule emailed with Welcome to KCBOR Letter
Certification of Non-Use (“waiver”) Broker participants- relieved from payment of salesperson MLS fees by certifying in writing using the Drop of membership form and return keycard. That the salesperson is engaged solely in activities that do not require a real estate license such as Clerical. (drop form required as well to remove from MLS) That they will not use nor benefit from the MLS in any way. Found in violation of the Waiver- Broker subject to all MLS fees dating back to the date of the waiver. Participant and subscriber also subject to any other sanction imposed for violation of the waiver form. Including citation, suspension, termination of participation rights and access to the MLS
Listing Procedures Accept exclusive right to sell exclusive agency, open, and probate listings Responsibility of the broker and subscriber-properly classify the type of listing and Obtain a legal opinion –correct classification MLS shall have no affirmative responsibility to verify the listing type of any listing However- MLS shall have the right to have legal counsel make a determination as to the classification Association shall have the right to reject or remove any such listing- falsely represented. Listings can only be listed in the MLS system under one property type.
Scope of Service 1 of 2 Limited Service or Entry-Only Listings Listing broker will not provide one, or more, of the following services: Will not provide cooperating brokers with any additional information regarding the property not already displayed in the MLS but instead gives cooperating brokers authority to contact the seller’s ) directly for further information: Will not accept and present to Seller’s) offers to purchase procured by cooperating brokers but instead give cooperating brokers authority to present offers to purchase directly to the sellers: Will not advise the seller’s as to the merits of offers to purchase: Will not assist the seller’s in developing, communicating, or presenting counter-offers: or Will not participate on the seller’s behalf in negotiations leading to the sale of the listed property.
Scope of Service 2 of 2 Must be identified as such in MLS database by use of the “scope of service” data field Aware of the extent of the services the listing broker will or will not provide to the seller’s Aware of any potential for cooperating brokers being asked to provide clients There is not a requirement nor an obligation on the part of the cooperating broker to provide any or all of these services to the listing broker’s client. If the cooperating broker does not intend to provide any of these services directly to the seller, it is advisable to have the seller read and sign a non- representation form in order to put that seller on notice that services are not being provided ; a relationship is not being created; and that the seller may want to consider hiring their own representation.
RETS and FTP Data Feeds RETS feeds require a third party vendor contract. If the vendor is already in contract with KCBOR it only requires an additional form. The third party vendor will pay a set up fee and an annual membership fee. Third party Vendors can only get the forms Directly though a member. The forms are submitted KCBOR by the third party vendor. FTP requires a form submitted to the KCBOR.. KCBOR staff will grant access though MLS to the member applying. The member will copy and paste a URL from MLS into their website to start the data feed. RETS and FTP Data feeds supply information to our members websites about listings. There is a $25.00 processing fee per member /per feed. Forms are located on Links /Links and documents. Third Party Contract-- data feed using a vendor RETS additional Feed-- Vendor already a member IDX Smart Framing –Member wanting basic URL Link
Searches/ Types of Searches Links /Links and Documents Help Section Entering a new Listing Listing Waiver Expired Listings / Closing listing Sale PendingPublic Remarks /Wrong Area /Missing Information Lockbox Regulations
Searches It’s vital to use Preview count with each change you make to a search to keep control of the information your searching. To begin your search you are required to add four main types on information; Property type, Sub property type, Status, Area. Once that information is provide use the preview count each added field until you have the information you need.
Types of Searches Search By Address Search By Map Looking up listings in the MLS by address is easy. It’s usually best to only put in the address number in case of spelling complications. If you only use the address numbers it will pull up any and all listings with that address number alphabetically. Searching for listings by Map can come in handy especially if you use the Polygon shape. The Polygon shape allows you draw any type of shape you want to blanket a specific area. It’s imperative when adding listings that the area be correct for Polygon mapping to work effectively.
Links/Links and Documents Is the library of information ! All the forms, policies, rules and regulations, just to name a few are located here. Mapping Area’s Input sheets for listings Closing form Admin Entry form Rosters are important tools ! Rosters Input Listings sheets Closing form Admin Entry form Hanford and Lemoore Area Maps
Help Section in MLS Under “Learning Center” are videos that will walk you step by step how to navigate though the system. The videos are not longer than 10 minutes each. Some of the information covered in the videos are: How to make a CMA How to add a client prospect and email listings. How to manage pictures. Importing Contacts Create a prospect record Client Portal
Enter a New Kings County Listing in MLS This applies to Kings County Listings only. The three day rule does not include weekends and/or holidays. However if you take the listing on a Friday even if it’s after five it still counts as your first day. The fine for not inputting a listing within the three day time frame is $25.00 a day until it’s input. 3 Days to enter a new listing in the system
Bonding a listing with a tax record from the Assessors office creates less work for you!!! When entering a listing; once you input the Property Type and the county, to the right of County, an option to “search county records” will pop up. By clicking on the “search county records you will have the option to bond your listing with the existing tax record and fill in data on your listing for you.
Searching County Records /Adding a listing in MLS To search tax records it’s best to only put the Address number and name. The name and addresses will appear. Select the address and name of owner that matches your listing. When selection is made it will auto populate the data on the date you started on, including your APN number. Click place Pin on Map. The tax record information will AutoMap the listing for you. Once mapped you can continue inputting the listing by clicking on “continue to listing input” on top of the map.
Listing Waiver from the MLS Not all listings go though the process without a hitch. If a listing cannot be shown or cannot accept an offer it cannot be active in the MLS system. The listing waiver is helpful with these types of situations. The client is going on vacation and doesn’t want the listing shown for a week. The listing is occupied with tenants that will not cooperate. Are examples of when to use a listing waiver. When you turn in a listing waive please make sure you also submit the Listing agreement with it. You can fax, email or drop off at the board office. A late listing waiver is a $500.00 fine so please submit your listing waiver within three days of the listing date.
Expired Listings Once a listing expires in the system the listing will go to an “off market” status. To put the listing in a different status will require a call to the KCBOR Office 559-584-7179. It’s required to change the status on a listing before it expires to avoid a $10.00 fine per infraction. You can enter the listing as a new listing ONLY if you have a new listing agreement with a new listing date and a new expiration date.
Closing a listing in the MLS You have 48 hours (not including weekends or holidays to close a listing in the system. Listings not closed in 48 hours will automatically generate a $10.00 fee.
Listing with an accepted offer must be changed in the system to something other than active within 24 hours!! You have three choices Taking back ups Short Sale Taking back ups Pending The fine for late sale pending is $50.00
Public Remarks and Pictures! Both are data fed to all the websites. Advertizing on other members websites without written permission is strictly prohibited. Public remarks and pictures are just for description of property. No names, websites, phone numbers, or emails in public remarks. No signs in pictures.
Avoid the wrong Info!!! Public Remarks Is a $25.00 fine per Infraction. Pictures Missing The listing will not go live in the system without the pictures which falls under the enter a listing within three days $25.00 a day fine until listing is completely entered.
Mapping!! Hanford and Lemoore are divided into 5 sections each total: Hanford : North West Hanford North East Hanford South West Hanford South East Hanford Kings County Rural Lemoore: North West Lemoore North East Lemoore South West Lemoore South East Lemoore Kings County Rural You are welcome to call KC MLS anytime to verify an area.
Wrong Area Violation It’s important to select the right area (from the five designated areas) when inputting a listing. Using the maps on Links/Links and Documents will assist you in making the right choice. You are also welcome to call the Board office to verify your area. Wrong area is a $25.00 fine after one warning per member.
Missing Mandatory fields Or Wrong information A 24 hour notice will be emailed to you. As long as you fix any missing or wrong information within the 24 hour notice there will not be a fine. It’s a $25.00 a day fine for any and all missing information that remains incorrect after the 24 hour notification.
Lockbox Regulations All Kings County Listings are required to have a Kings County Lockbox if the listing has any other lockbox on the listing which includes keypad entry’s. Any listings not incompliance with this rule will be accessed a $100.00 fine per infraction.
Lockboxes and Keycards Lockboxes are $93.00 plus tax $99.98 total When purchasing a lockbox it’s important to have your keycard with you to program the box. Please be sure to put the lockbox on the listing before you put the listing into the MLS system. In order to have a combo box or any other type of access into a home, you are also required to have one of our lockboxes on Kings County Listings. Please make arrangement to remove your lockbox from the listing within 48 hours of closing of escrow or termination of contract with client. Lockboxes left on listings will be given a 24 hour notice to remove if the lockbox is not removed it will be raffled off to the membership. Keycards are free for board members and $86.00 Annually for MLS only members …. Keycards have to updated every six days the card readers are available for sale at $35.00 plus tax Keycard s can be updated at the Board office as well the computer is on Shannon’s Desk to update your card. To update your card you use the same login and password to get into rapattoni. If you misplace your keycard there is a form on Links/Links and documents for you and your broker to sign (please call KCBOR for replacement keycard cost).
We don’t like fines either! In an effort to keep the system clean, keep our membership from being mislead, or the general public from runaround we have fines in place. Please note that monies from fines goes to our “helping hands” which is a fund set up to help children in our community. Our association in no way benefits from you receiving fines.
There is an assessment quiz located on www.kcbor.com. Please take a moment to take the quiz. It is mandatory and part of your application process. You are welcome to print out the quiz and answer the questions, or you can open in adobe, then email. Please make sure all the questions are answered. If you have any questions please contact the board office 559-584-7179 Thank you