Bank-owned & Short sale are legal in property descriptions again.

Your Voice in Real Estate – Building your community for over 30 years.

Property Description:
The MRMLS Matrix system has several areas for text comments. One area is for “confidential” agent remarks which are used solely for agent-to-agent communications – that is, things members might communicate to one another but not to the general public. There is another area for the Property Description that should only be used to describe the property – physical and aesthetic characteristics that make the house buyable/sellable (with exception to the terms: Short Sale, Bank Owned, Auction and REO which may also be placed in the Property Description). All text comments must be entered in the English language ONLY.

Certain remarks CAN NOT appear in the Property Description field. They include:

1. Gate, lockbox combinations, and/or security codes
2. The term “FSBO” (For Sale By Owner)
3. The word “vacant” (There is a separate field for that)
4. Open House information (There is a separate utility for that)
5. E-mail (There is a separate field for that)
6. Internet website addresses
7. Phone numbers
8. Agent, assistant, co-lister or owner name(s)
9. Title, Escrow, or other service instructions
10. Financing information
11. Commission information
12. Any language that violates any Fair Housing/HUD guidelines for improper or discriminatory language in advertising
13. Remarks may not be removed when changing a listing from active to off market status.

Any other information that does not describe the physical and aesthetic characteristics of the property may not appear in the Property Description (with exception to sale type and legally required specific Auction verbiage). The Office Comments field may be used for other information that does not have a specific field or utility.

*Please take the time to double check all of your listings to be sure that you are in compliance.

To learn more about the MLS rules please visit our website:
http://www.srcar.org/documents/CARETS_Data_Integrity_Standards.pdf
http://www.srcar.org/documents/CARETS_Standardized_RULES_and_Regs.pdf

If you have any questions or concerns please contact our MLS Compliance Administrator Jennifer Lipscomb via email at Jennifer@srcar.org or phone at 951-894-2571.