On March 25, 2021, the Board of Directors approved the following recommendations from the MLS Committee to amend the MLS Rules, as outlined below, and are effective immediately. For questions, please call 423.698.8001 and ask to speak with MLS Director Tonya Bell or MLS Coordinator Rheta Beck.
As outlined below, the MLS Rules, Sections 1.2.0, 7 & 9 were amended as outlined below as mandated by and to comply with NAR policy:
Section 1.2.0. Accuracy of Listing Data. Participants and Subscribers are required to submit accurate listing data required to correct any known errors.
Section 7. Compliance with Rules By becoming and remaining a participant or subscriber in this MLS, each Participant and Subscriber agrees to be subject to the rules and regulations and any other MLS governance provision. The MLS may, through the administrative and hearing procedures established in these rules, impose discipline for violations of the rules and other MLS governance provisions . . . Note 2: MLS Participants and Subscribers can receive no more than three (3) administrative sanctions in a calendar year before they are required to attend a hearing for their actions and potential violations of MLS rules, except that the MLS may allow more administrative sanctions for violations of listing information provided by Participants and Subscribers before requiring a hearing. The MLS must send a copy of all administrative sanctions against a Subscriber to the Subscriber’s Participant and the Participant is required to attend the hearing of a subscriber who has received more than three(3) administrative sanctions within a calendar year.
Section 9. Consideration of Alleged Violations. The MLS Committee shall give consideration to all written complaints having to do with violations of the rules and regulations. When requested by a complainant, the MLS will process a complaint without revealing the complainant’s identity. If a complaint is subsequently forwarded to a hearing, and the original complainant does not consent to participating in the process, the MLS will appoint a representative to serve as the complainant.
As outlined below, the MLS Rules Section 1, Listing Procedures was amended to make the sanction for not entering a listing within required timeframe consistent with the sanction for Section 1.1. Clear Cooperation:
Section 1. Listing Procedures. Listings of real or personal property of the following types, which are listed subject to a real estate broker’s license, and are located within the service area of the MLS of Chattanooga, Inc., and are taken by Participants on an “exclusive right to sell” or “exclusive agency” listing form, shall be entered into the MLS within twenty-four (24) hours, excluding Saturdays, Sundays and holidays, of the effective date of the listing agreement. For failure to file a listing(s) within the required timeframe, the listing agent shall be assessed a fifty dollar ($50) five hundred dollar ($500) fine plus ten dollars ($10) per day that the listing was not entered.
As outlined below, the MLS Rules Section 1.2.6 Listing Status Definitions for Coming Soon was amended to (1) extend the length of time a listing can remain in Coming Soon status from 14 days to 30 days, and (2) provide Participants and Subscribers the ability to secure a listing and provide sellers more time to prepare a property before the showing start date (strikethroughs signify deletions, underlines signify additions):
Section 1.2.6. Listing Status Definitions. Coming Soon: A residential listing for sale and for which the Participant has a current listing agreement and the Seller has specified a Start Showing Date no more than fourteen (14 days) thirty (30 days), including weekends and holidays, in the future on which showings, open houses and/or previews will begin and the listing automatically will change to Active status and Days on Market will begin to calculate.
NOTE: The Pre-Marketing Addendum for Coming Soon Listings will be amended to reflect the changes as outlined above.