Rules & Regulations

 

When listing and selling property, it is to everyone’s benefit to work under a common and cooperative understanding. The MRMLS Rules & Regulations provide that commonality for participants and subscribers to ensure the integrity of the data, enable offers of compensation and foster broker cooperation.

 


MRMLS FAQ

How long do I have to enter a new listing or make seller-instructed changes to an existing listing?

MRMLS give subscribers 48 hours, excluding weekends and holidays to enter new listings or status changes.

Do I have to submit my listing to the MLS?

Yes. Broker participants and their agents must input exclusive right to sell or exclusive agency listings on one to four unit residential property and vacant residential lots located within the state of Montana after all necessary signatures of seller(s) have been obtained on the listing or they will be fined.

If the seller(s) do not want the listing included in the MLS, participants must submit the Exempt from MLS form or other document signed by the seller to the service (Info@406mls.com) within 48 hours, excluding weekends or holidays or you will subject you to a fine.

I received a fine, now what?

Subscribers will be notified of fines via the automated listing checker, and billed the following month. While MRMLS Leadership wants to ensure that we have good data above all else, we understand that mistakes happen and have created a Fine Waiver Request Form that can be submitted. A couple things to note: the fine waiver panel is a group of your REALTOR peers and meets only when they have several to review, so it can take a few weeks to receive a response. Even if you have submitted a waiver form, you must pay the fine before the due-date in order to avoid a late fee. If a waiver is granted, you will be refunded.

Finally, all of the income received from fines goes towards the charity causes that each member association designates, so you can at least feel good knowing that you’re supporting community!

Can I enter a listing for Comp purposes only?

If the proper paperwork was filed with the service, Subscribers may enter a listing for Comp purposes only within 30 days of closing. If you were on the buyer-side, please contact Derek Close, IT.

Can I use the previous agent’s photos in my new listing?

No, you may not use photos or virtual tours from the previous listing agent unless you have permission from the agent who owns the photos

If I have an agreement with a seller that I will reduce my commission if I also represent the buyer, do I have to disclose this to the MLS?

Yes. A dual or variable rate commission arrangement is one in which the seller agrees to pay a specified commission if the property is sold by the listing broker and a different commission if sold by a cooperating broker, and it must be disclosed in the MLS

I belong to another MLS, do I have to join MRMLS?

No. MRMLS Offers a waiver program for agents who subscribe to another MLS and wish top opt-out of our service. Simply fill out the MRMLS Subscriber Waiver Form, have your broker sign and then submit to the MLS. Waivers must be updated annually, and if an applicant no longer meets the  requirements, the MLS must be notified within fifteen (15) days.

To be granted a waiver, the waiver applicant must satisfy and continue to satisfy all of the following requirements:

  1. Waiver Applicant is NOT a Listing agent for any active Listing included in the MLS;
  2. Waiver Applicant does NOT possess, control, or use a lockbox key to enter, view, or show any property that is listed in the MLS;
  3. Waiver Applicant does NOT directly or indirectly access or use in any manner whatsoever the Listing information stored in the MLS. Such access and use include, but is not limited to, direct access to or use of the MLS and the use of the other devices or services provided by the MLS or its affiliated or licensed vendors or suppliers, that permit access to and use of any Listing information from the MLS; and
  4. Waiver Applicant does NOT use the MLS to list properties for sale or lease or to identify or locate properties for any potential buyers or lessees.

A Violation of the terms of the Waiver shall result in the immediate activation of the licensee and charge all applicable fees back to the initial date of the violation, a fine of $500, and the subscriber may not apply for a waiver until one year from the date of the reactivation.

The Participant office shall be fined $1,000 for each affiliated licensee found in violation of the Waiver Policy.