News

MLS Reminder: Report Sales Promptly

Please be sure to complete the information accurately when reporting a listing SOLD. State-Wide MLS needs to preserve the integrity of its data to ensure that it remains reliable and relevant for our members and the public. MLS is also reliant on our members’ commitment to reporting the information in a timely manner as required by the MLS Rules and Regulations in order to accurately report sales to the media. There is a $25 fine for reporting incorrect off-market information. This includes failing to report the correct sale price, closed date and selling licensee/office.

Section 5.8 – Closed Sales of the MLS Rules and Regulations: When the sale of a listed property has closed, a report shall be made to the service with closing sale price and terms within forty-eight hours, excluding state and federal holidays. Late reported solds will result in a fine of $25 for days one through five and $5 per day thereafter. The DR/Participant may incur additional fines.