3 Rule changes: In Response to Policy 7.43, “MLS of Choice”

There have been 3 rules changes in the NALMLS Rules and Regulations in response to Policy 7.43, “MLS of Choice”.

New – Section 1.16 Co-List Agent: Non-Member
Listings that are co-listed with another licensee who is not subscribed to NALMLS or is co-listed with a licensee subject to a fee waiver under Policy 7.43 may not be entered into NALMLS.

 

Revision for IDX Rule – Section 18.3.5 Non-Principal Brokers and Sales Licenses
Non-Principal brokers and sales licensees affiliated with IDX participants may display information available through IDX on their own websites subject to their participant’s consent and control and the requirements of state law and/or regulation.
This does not apply to licensees subject to a fee waiver under Policy 7.43.

 

Revision for Virtual Office Website (VOW) – Section 19.1 Participants Website
a. A Virtual Office Website (“VOW”) is a Participant’s Internet website, or a feature of a Participant’s website, through which the Participant is capable of providing real estate brokerage services to consumers with whom the Participant has first established a broker-consumer relationship (as defined by state law) where the consumer has the opportunity to search MLS Listing Information, subject to the Participant’s oversight, supervision, and accountability.  A non-principal broker or sales licensee affiliated with a Participant, except one subject to fee waiver under Policy 7.43, may, with his or her Participant’s consent, operate a VOW.  Any VOW of a non-principal broker or sales licensee is subject to the Participant’s oversight, supervision, and accountability.

b. As used in Section 19 of these Rules, the term “Participant” includes a Participant’s
affiliated non-principal brokers and sales licensees other than those subject to fee waiver under Policy 7.43 – except when the term is used in the phrases “Participant’s consent” and “Participant’s oversight, supervision, and accountability”.  References to “VOW” and “VOWs” include all VOWs, whether operated by a Participant, by a non-principal broker or sales licensee, or by an Affiliated VOW Partner (“AVP”) on behalf of a Participant.


Click HERE to view the complete Rules and Regulations.