Updates From ValleyMLS Board Meeting

The ValleyMLS Board of Directors held its regular meeting this morning and approved several motions and policies. Find those updates below and please reach out to a member of our Leadership Team or Board with questions.

NEW PROPERTY TYPE

A new property type will be created in the MLS, labeled “manufactured home on permanent foundation”. A property can be listed under this new type if it meets the following criteria:

  • the Manufactured Home is tied to a permanent foundation
  • is assessed to the land
  • is now being taxed as a dwelling
  • has permanent meter attached
  • has a fixation affidavit recorded

If the above criteria are met, the property can be listed in the MLS as the new type “manufactured home on permanent foundation”.

NEW RENTAL CLASS EXCEPTIONS

The following exceptions have been approved when entering listings in the RENTAL class:

  • Properties listed in the RENTAL Class must be available to rent within 60 days of entry.
  • Website URLs are allowed when listing in the RENTAL Class.

If listing a property in the RENTAL Class, you are not required to enter the owner’s name.

SOURCE OF SQUARE FOOTAGE

The use of Plans and Specs will no longer be a valid source of SQFT unless the propertyā€™s age is proposed/under or New Construction.Ā  The rationale for this motion stems from Plans and Specs not serving as an accurate source on existing homes due to modifications that may have been made.

REVISION OF 'TOTAL SQUARE FOOTAGE COUNT' DEFINITION

Finished Square Footage is now defined, for the purposes of this MLS listing, as an enclosed area suitable for year-round use, embodying walls, floors, and ceiling that are finished in a manner consistent with the rest of the house. In order to be considered finished, this space must have a permanent and sufficient heat source.

A finished area that is not connected to the main residence by a finished hall or stairway must be listed separately. If you have to leave the house to get to the room, itā€™s not part of the finished floor area.

CHANGING OF LIST PRICE

When a list price is changed to match the sold or contract price, this causes the “List Price to Sold Price” ratio reflect an inaccurate picture. Changing the price to match the accepted contract price is not allowed because it will skew statistical data in the MLS.

IDX BUYER AGENT INFO

To properly give credit to the buyerā€™s agent, that agent’s information will now be included in all IDX Data Feeds.

COMP ONLY LISTING REMINDERS

Entering a Comp Only Listing is optional. However, if you plan to enter a listing for comparison purposes, you must have a transaction broker listing agreement, or have express, written permission from both the seller and buyer, allowing for inclusion in the MLS after closing.