MLS (MRED) Rules and Regulations FAQ
Where can I find a complete copy of the MLS (MRED) Rules and Regulations?
The MLS (MRED) Rules and Regulations are available online at www.mredllc.com/. Log into the "Members Only" area, then select "Member Info". Click on "View Forms". The Rules and Regulations can be either downloaded or printed.
What does the MLS (MRED) Rules and Regulations department do?
This department was developed to review the contents of the MLS (MRED) database. It ensures the subscribers of MLS (MRED) adhere to the Rules and Regulations as set forth by the Shareholders of the MLS. They review the required fields of listings on a daily bases to ensure that the MLS (MRED) database contains accurate data.
Who comes up with the rules and regulations, anyway?
The Rules and Regulations committee, which is made up of volunteer REALTORS® who review the rules, take suggestions from the Regional Users Network Team, and then pass on to the Board of Directors their recommendations for approval and adoption.
How will I know if I've violated a rule?
When the computer detects violations, the rules and regulations department faxes a notification to the Broker/Manager of the violating office. You will have 72 hours to make the correction(s) to the fields indicated, unless otherwise stated as an automatic fine. If the indicated correction(s) are not made within the 72 hours, the Broker will receive a Notice of Assessment of MLS Fine. Your office will then have 20 days to file an appeal.
How long do I have to enter a new listing into the MLS?
72 hours from the time all necessary signatures have been obtained (including weekends and holidays). How long do I have to mark the statues of a listing when there is an accepted contract? 72 hours from the time all necessary signatures have been obtained (including weekends and holidays).
How long do I have to mark the status of a listing as closed?
Again, 72 hours from the time all necessary signatures have been obtained (including weekends and holidays).
What do I use for a PIN number on a new subdivision, where each lot has not yet been assigned its own PIN number?
Use the first seven digits of the existing PIN number, which has been issued for the entire parcel of land. When the new PIN numbers are assigned, only the last digits will change, the first seven will remain the same.
What do I use for the tax amount and tax year for a new subdivision?
As for the tax amount, you will use the word "NEW" and use the most current, completed and issued real estate tax year.
What agent ID and office ID numbers do I use when closing out a listing when the agent and office are not members of the MLS?
When a selling agent is not a member of the MLS (MRED), use five 9s ("99999") in the Selling Office field and six 9s ("999999") in the Selling Agent field.
What do I put in the Corporate Limits field (CRP)?
If incorporated within city limits, the actual city name must be stated, otherwise use the word "unincorporated". Do not abbreviate, but spell out as much as will fit.
Can I list one property under two different Property Types?
A listing shall only be submitted under one property type, unless the listing is both for sale and for rent, in which case the listing may be entered as a duplicate under the rental category. When listing a possible teardown, you must choose which property type will be the best marketing tool for your client.
What information can I put in the remarks section?
The remarks field is reserved for a description of the property. Agent names, co-lister names, and contact information are not permissible. Open houses may be listed in the MLS system under the Tour/Open House category.
For more information, contact MLS (MRED) help desk at 630.955.2755. To access MLSNI, click here.