At its September 26th board meeting, ValleyMLS Directors approved the following:
š The 2024 ValleyMLS budget, which is subject to a final vote by members at the annual HAAR + ValleyMLS budget meeting on October 12th.
š Ā Milestone as a new ValleyMLS benefit for members. Milestone delivers an exceptional post-close experience for homeowners, strengthens relationships with agents and lenders, and grows any of your additional in-house partner services.
š WellcomeMat as a new ValleyMLS benefit for members. WellcomeMat allows agents to load videos directly into your listing through the add/edit function in Paragon. Agents will be able to see analytics for your videos.
š A more comprehensive way to break down the Total Finished Square Footage in your listing. These are the changes you will see:
We are adding the word āabove gradeā to the 1st level and 2nd level fields and adding a new 3rd level/above grade.
The Basement field will also get a new name called, Finished Basement/Below Grade Sqft, as well as adding a new Unfinished Basement/Below Grade Sqft field.
A new āAdditional Dwelling Unitā (ADU) field will also be added. To list a property that includes an ADU, it must have a kitchen, living area and a minimum of 1 full bath.
š Form Updates:
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Adding the same verbiage (from the Financed Sales Contract) regarding earnest money to the Land and Cash Sales Contracts.
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*New* Utility Provider Form will be added to the ValleyMLS forms library. This optional form allows agents the ability to disclose the utility providers and availability for the property.
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The First Right of Refusal form was updated by removing the following language: “Sellers retain the right to agree to changes in the terms of their contractual agreement with the first contract holders.” and an UPDATE to it on the FROR Notification to the following: “Buyers and sellers retain the right to mutually agree to changes in the terms of their contractual agreement.” Both changes were made to clear up misunderstandings in the interpretation of intent with these documents.
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Outgoing Referral Document: was updated by adding a āReferring agentā and Receiving agentā signature line. A more prominent placement for the agreed upon percentage was made, and a new notes section was added to allow for additional information to be shared. There will also be fields added to include the agents and offices license # to be entered.
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A Work Group was approved to create a Broker Compensation Form and a listing agreement that will be specific to use when listing Land for sale.