October 30, 2023
It’s the end of October and the year is quickly coming to an end. Here’s what NorthstarMLS Rules Enforcement Performance Data look like for Q3. They are great reminders of how to have violation-free listings that help the market perform with top efficiency!
Check Your License Status
Before we dive into the Rules data, remember that you must have an active license in the state(s) where you practice real estate. Now is a great time to check the status of your license(s) to ensure they have not or are not about to expire.
For Minnesota Licensees, your license renews every two years on June 30.
Wisconsin licensees, per Wis. Stat. § 440.08 (2), the required renewal date for the Real Estate Broker credential is December 14 of even years. Should you receive your initial credential in the months leading up to this date, you are still required to renew your license by the statutorily defined date.
Q3 Rules Violations
It is very important to keep up with Rules and Regulations to ensure you haven’t received a notice or fine. Here is a look at the most violated rules for Q3.
For July, August and September 2023 we had a total of 3,642 rules violations with the majority being pending status violations. This was up 15% from the previous quarter.
Finished Square Feet and virtual tours violations followed with 309 and 251 violations respectively. This was a 14% increase in Square Feet violations and an 11% decrease in virtual tours from the previous quarter.
Do Violations Mean Fines?
NorthstarMLS has very few rules that immediately result in fines. In many instances we send warning notices about violations before fines are even assessed.
The most common violations are for adding photos late, including phone numbers in public remarks and having branding elements in virtual tours. For all the citations we issue, only 2% of them result in actual fines.
What Should I do if I Receive a Violation Notice?
If you receive a violation notice, it is very important to respond to the Rules & Regulations team so it can get closed properly before it becomes a fine. It is also important to respond to the Rules & Regulations team when a fine is received to be sure the fine does not escalate.
All fines and notices have a 48-hour window for updating and responding. If the listing is not fixed or responded to within the 48-hours, it will escalate to where we issue a fine.
How can I Prevent being Fined?
Having accurate, up-to-date listing data is important to provide the best service to the real estate community. If you aren’t sure about something, you may request a compliance check before posting your listing on the MLS. Some of the common compliance checks we receive are virtual tours and remarks. Feel free to send compliance checks to email@example.com.
Here at NorthstarMLS we are committed to educating and helping our members. In addition to contacting us with specific questions, check out our past blogs on violations topics like these:
- Have Listings with Land, Multiple Dwellings or Commercial Components? Here’s Some Listing Rules for You!
- Six Considerations When Calculating Finished Square Footage
- Listing Photos: Follow these Rules to Make a Great Impression
- Don’t get pulled over for bad (or no) driving directions in your listings
Want Office Training?
The NorthstarMLS Rules & Regulations team offers office training where you can learn more. Brokers or office administrators can request training by contacting us at firstname.lastname@example.org. Also check out our page on the new NorthstarMLS website for more Rules & Regulations information and assistance
By Mandy Boldt
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