A reminder of how important it is to stay up to date on the latestĀ NALMLS Rules & RegulationsĀ and the subsequent penalties that go along with them if the Rules and Regulations and/or Policies of the MLS are not followed.Ā Ā Penalties for violations of the NALMLS Rules & Regulations vary depending upon the TIER category of the violation.
Categories of Alleged Violations:
If a violation occurs, it will fall into one of the following categories:
- Tier I, Non-Penalty Violations
- Tier II, Penalty Violations
- Tier III, Violations that incur an immediate fine
Below is a brief summary of the violations and subsequent fines for February 2018.
| VIOLATION | FINE | NUMBER OF VIOLATIONS |
| Going past projected closing date |
$50
|
7 |
|
Failure to enter sold data within 2 working days after closing date
|
$50 | 3 |
| Failure to enter a photo within 7 days of entry |
$50
|
1 |
|
Advertisement of a Coming Soon listing without turning in the Addendum
|
$50 | 1 |
| Advertising that owner will take less than list price in comments |
$50
|
1 |
|
Unauthorized Disclosure of MLS login and Password
|
$1000 | 1 |
NALMLS Rule SECTION 1.2 DETAILS FOR LISTINGS FILED WITH THE SERVICE regarding Status Changes:Ā
For withdrawn, contingent, pending, leased, or sold must be reported to the multiple listing service by the listing subscriber within 2 working days after they have occurred. No new listing may be added and immediately changed to a SOLD status without first changing the status to either contingent or pending in order to allow the normal progression of history to occur for each listing.