Association News MLS President — 28 January 2010

Your MLS will soon be adding a digital watermark to all photos. Per the MLS Rules and Regulations, MLS Vendors will have 72 hours to update all listing data so that this watermark is displayed on all photos shown on all of their websites.MLS Photo Watermark Sample
 
The digital watermark is the translucent, Registered ®
trademark of the MLS as shown in the example on the right.
It is digitally laid on top of every photo in the bottom right
corner which is the most standard way to protect a copyright.
 
The main reasons your MLS will be implementing this digital watermark is to reduce incurred legal fees and to protect your listing data and copyright.
 
The MLS Board of Directors approved the following updates to the MLS Rules:  
 
MLS Rule 5.1 Form of Indicating Compensation: Additional Compensation disclosure as required by NCREC Rule A.0109 where cooperating broker’s additional compensation is more than “nominal” shall be placed in the Additional Compensation field.
 
Added the following wording for clarification to MLS Rule Section 1.2 Detail on Listings Filed With The Service: A property data form, when entered into the Service computer by the listing broker, shall be complete in every detail which is ascertainable as specified on the property data form.
 
Participants/REALTOR® Subscribers who do not complete every detail, which is ascertainable, are subject to fines as specified in Exhibit 2 attached to these Rules. Further, no agent or company information such as phone numbers, hyperlinks to websites, Talking Ads, email addresses, etc., or offers of compensation of any type shall be placed in fields where the public might see them such as the “Remarks” or “Direction” fields. The proper location for this type of information is “Non Public Remarks” or “Additional Compensation” as specified in Section 5.1.
 
Added clarifying language to MLS Rule Section 2.5 Reporting “Pending” And Sold Sales to The Service: (NOTE: Once the contingency is removed under (a) [buyer's house is not under contract], (b) [Alternative 2], or (c) [subject to Short Sale] above, the status must be changed to Pending.) When the NOTE is read in conjunction with the entire MLS Rule, this change makes it clear that once a seller has accepted a contract with a short sale addendum attached, the property status = Active-Contingent; then, when the Lienholder notifies the Seller of the approval of the short sale, the property status=Pending.
 
Thank you for your time and attention to this important information!

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Karen Parkin, ARM®, GRI - 2011 WRAR President

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