PropTx MLS® Rules - Part 1
MLS® (Multiple Listing Service) rules are essential for maintaining fairness, accuracy, and professionalism in the real estate industry. They ensure that property information is reliable and up-to-date, fostering trust among buyers, sellers, and agents. Adhering to these rules promotes ethical practices and prevents disputes, creating a level playing field for all participants. Additionally, compliance with MLS® standards protects agents and brokers from legal or regulatory issues.
How familiar are you with the new PropTx MLS® rules? Take this five-question quiz to find out!
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.14 - An MLS® Listing Agreement shall run for a period of not less than sixty (60) days from the Commencement date.
Administrative Fine for breach:
First Breach: $500.00
Repeat Breach: $1,000.00
*LSTAR will start implementing the fine process starting on April 1, 2025.
PropTx MLS® Rules - ARTICLE 5 – ADVERTISING
Rule 5.01 - Every image submitted to the MLS® System shall prominently feature the property specific information about the Real Estate Component itself and aspects of the immediate surroundings that relate directly to the Real Estate Component, including, but not limited to, scenery viewed from the Real Estate Component.
The following images cannot be included in an MLS® Listing:
a) Digitally altered images including the use of any artificial intelligence (“AI”) system or technology to create, alter, or enhance images or digital staging that do not accurately depict the listed real estate;
b) Images of surrounding amenities that are not in view of the listed real estate;
c) Images of advertising or marketing messages with the exception of architectural drawings, floor plans, maps, aerial or distance photographs relating to the listed real estate which is labelled as such; and
d) Any persons or digital representations of persons
This Rule does not preclude PropTx or the Association from adding a watermark to the photographs.
Administrative Fine for breach:
First Breach: $500.00
Repeat Breach: $1,000.00
*LSTAR will start implementing the fine process starting on April 1, 2025.
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.16 - MLS® Listings appearing on the MLS® System shall be immediately available (subject to applicable legislation, the rights of and reasonable accommodation to the occupancy) for showings, inspections, and registration of Offers.
Once an MLS® Listing is conditionally sold, the requirement that the MLS® Listing be available for showings shall continue unless otherwise directed by the Seller in writing. The Seller’s instructions on showings must be accurately reflected in the MLS® Listing.
In the event an existing MLS® Listing becomes unavailable for showings, inspections or registration of Offers, the MLS® Listing shall be suspended by the Listing Brokerage. While under suspension, a record of all requests by Co-operating Brokerages for showings, inspections, and registration of Offers shall be kept by the Listing Brokerage.
Upon the Seller rescinding the suspension, the Listing Brokerage shall immediately notify all Co-operating Brokerages who have requested showings, inspections or registration of Offers.
Administrative Fine for breach:
First Breach: $500.00
Repeat Breach: $1,000.00
*LSTAR will start implementing the fine process starting on April 1, 2025.
PropTx MLS® Rules - ARTICLE 5 – ADVERTISING
Rule 5.01 - Every image submitted to the MLS® System shall prominently feature the property specific information about the Real Estate Component itself and aspects of the immediate surroundings that relate directly to the Real Estate Component, including, but not limited to, scenery viewed from the Real Estate Component.
The following images cannot be included in an MLS® Listing:
a) Digitally altered images including the use of any artificial intelligence (“AI”) system or technology to create, alter, or enhance images or digital staging that do not accurately depict the listed real estate;
b) Images of surrounding amenities that are not in view of the listed real estate;
c) Images of advertising or marketing messages with the exception of architectural drawings, floor plans, maps, aerial or distance photographs relating to the listed real estate which is labelled as such; and
d) Any persons or digital representations of persons
This Rule does not preclude PropTx or the Association from adding a watermark to the photographs.
Administrative Fine for breach:
First Breach: $500.00
Repeat Breach: $1,000.00
*LSTAR will start implementing the fine process starting on April 1, 2025.
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.17 - MLS® Listings on the MLS® System shall contain all the information necessary for preparing an Offer for Sale, Lease, or Sub-Lease.
The information on the PropTx MLS® System, for any MLS® Listing, shall have clear and complete information that is required in order to submit an offer. If the mandatory fields are incomplete or if information is inaccurate then an MLS® Listing may be in violation of this rule as well as Rule 3.07.
There may be instances where an MLS® Listing is classified as a freehold when it is a residential condominium which has maintenance fees. If this is not clearly set out in the mandatory fields then it may be the case that the information is not available such that an offeror may use an entirely incorrect Agreement of Purchase and Sale form on the basis of the incorrect classification.
The importance of this Rule is that all of the information must be available and clear. If there is contradictory information in different fields then all of the information required to prepare an offer is not accessible on the MLS® Listing alone.
Administrative Fine for breach:
First Breach: $500.00
Repeat Breach: $1,000.00
*LSTAR will start implementing the fine process starting on April 1, 2025.
We hope you found this quiz helpful in getting a better grasp of the PropTx MLS® system guidelines! By following these Rules, we can all contribute to fair and accurate listings, benefiting everyone involved.
Take this opportunity to familiarize yourself with the other MLS® Rules and Policies. By understanding these guidelines, you'll ensure your listings on the PropTx MLS® system are compliant.
Stay tuned for our next quiz - PropTx MLS® Rules - Part 2
We’re impressed!
You are well on your way to becoming a PropTx master! You clearly have a good understanding of the Rules in the PropTx MLS® system.
Now that you're equipped with this knowledge, it's time to put it into practice.
Take this opportunity to familiarize yourself with the other MLS® Rules and Policies. By understanding these guidelines, you'll ensure your listings on the PropTx MLS® system are compliant.
Stay tuned for our next quiz - PropTx MLS® Rules - Part 2
