PropTx MLS® Rules - Part 2
As PropTx users, LSTAR Members are required to follow and abide by the PropTx MLS® Rules and Policies.
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!
Who is responsible for accuracy of all information submitted to the MLS® System, including photographs and documentation?
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.01 - Members are responsible for the accuracy of all information submitted to the MLS® System including photographs and all documentation. No language in the MLS® Listing shall be used to override or diminish this responsibility. The Association is not obligated to or responsible for reviewing the accuracy or propriety of any MLS® Data Information Form, MLS® Listing Agreement or Document Attachments. Members must immediately correct any inaccuracy and notify the Association when necessary.
Administrative Fine for breach:
First Breach: $1000.00
Repeat Breach: $2,000.00
*LSTAR will start implementing the fine process starting on April 1, 2025.
What information may NOT go in the public facing fields?
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.05 - Information published on the MLS® System shall relate directly to the listed real estate and the MLS® Listing Agreement.
Public facing fields of an MLS® Listing shall not include any information that promotes goods and services, or any form of solicitation. Specifically, an MLS® Listing must not include any form of self-promotion of the Member or third-party information, including but not limited to, telephone number, email addresses, and website URLs with the exception that the phrases “visit my website for further information about this Listing” or “visit the REALTOR® website for further information about this Listing.”
The Brokerage Remarks field may include the name, address, telephone and/or email address or facsimile number of Member(s) to be contacted for more information concerning the property.
Rule 3.04 - All remarks must appear in the appropriate field of an MLS® Listing as follows:
a) The public facing fields shall only display comments which provide pertinent information concerning the property, including, but not limited to, descriptions of the property, information about renovations, etc.;
b) The Broker Remarks field shall only display comments which provide
pertinent information that could impact Co-operating Brokerages,
including, but not limited to:
i. Any terms of the MLS® Listing Agreement that would modify either
the total remuneration payable to the Listing Brokerage or the offer
of remuneration payable to the Co-operating Brokerage; and
ii. Seller contact information.
c) The Offer Remarks field shall display all comments related to the registration of Offers and Seller direction, including, but not limited to:
i. The date and time of an offer presentation;
ii. If a Seller is reserving the right to review pre-emptive Offers; and
iii. Seller direction that the Co-operating Brokerage not be in attendance during an Offer presentation.
d) The Appointment/Showing Remarks field shall display all information related to Showing the property.
FOR EXAMPLE:
• Classifying the inaccurate property classification;
• Inputting the incorrect number of bedrooms; and
• Including the language “Buyer to Verify” as it is inconsistent with the requirement of accuracy of all listing information.
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.
What information is NOT allowed in the Broker Remarks field?
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.04 - All remarks must appear in the appropriate field of an MLS® Listing as follows:
a) The public facing fields shall only display comments which provide pertinent information concerning the property, including, but not limited to, descriptions of the property, information about renovations, etc.;
b) The Broker Remarks field shall only display comments which provide
pertinent information that could impact Co-operating Brokerages,
including, but not limited to:
i. Any terms of the MLS® Listing Agreement that would modify either
the total remuneration payable to the Listing Brokerage or the offer
of remuneration payable to the Co-operating Brokerage; and
ii. Seller contact information.
c) The Offer Remarks field shall display all comments related to the
registration of Offers and Seller direction, including, but not limited to:
i. The date and time of an offer presentation;
ii. If a Seller is reserving the right to review pre-emptive Offers; and
iii. Seller direction that the Co-operating Brokerage not be in
attendance during an Offer presentation.
d) The Appointment/Showing Remarks field shall display all information
related to Showing the property.
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.
What information needs to be included in a listing, when there is a Form 244 signed?
Form 244 is the Seller Disclosure
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.04 - All remarks must appear in the appropriate field of an MLS® Listing as follows:
a) The public facing fields shall only display comments which provide pertinent information concerning the property, including, but not limited to, descriptions of the property, information about renovations, etc.;
b) The Broker Remarks field shall only display comments which provide pertinent information that could impact Co-operating Brokerages, including, but not limited to:
i. Any terms of the MLS® Listing Agreement that would modify either the total remuneration payable to the Listing Brokerage or the offer of remuneration payable to the Co-operating Brokerage; and
ii. Seller contact information.
c) The Offer Remarks field shall display all comments related to the registration of Offers and Seller direction, including, but not limited to:
i. The date and time of an offer presentation;
ii. If a Seller is reserving the right to review preemptive Offers; and
iii. Seller direction that the Co-operating Brokerage not be in attendance during an Offer presentation; and
d) The Appointment/Showing Remarks field shall display all information related to Showing the property.
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.
You may NOT put a listing on the MLS® System under what circumstances?
PropTx MLS® Rules - ARTICLE 3 – LISTING INFORMATION AND ATTACHMENTS
Rule 3.07 - Without limiting the generality of the foregoing and the other provisions of the MLS® Rules, any such MLS® Listing shall not be accepted by the Association as an MLS® Listing:
a) If it excludes any Members from showing the property;
b) If it excludes any Members from acting as a Co-operating Brokerage;
c) If it is not accompanied by at least one image of the listed
real estate subject to the exemption that listed real estate that is not built may use a photograph of the land, an artist rendering, a map indicating the location of the Real Estate or a photograph of the model home with a photograph label indicating as such; or
d) If all Mandatory Fields have not been completed.
i. Where realty taxes are required to appear on the MLS® System as a Mandatory Field, the amount to be shown shall be the current year’s annual taxes or if not available, the prior year’s annual taxes. In instances when the current or prior year’s annual taxes are not available, an MLS® System field selection indicating “taxes not yet assessed” will be chosen, if available, or the Brokerage Remarks shall be updated to read “taxes not yet assessed.”
ii. A Mandatory Field will not be deemed complete unless the information in the field is accurate.
iii. All registered title holders must be included in the Seller field. If there is insufficient space in the Seller field to list all names, then this information may be continued in the Brokerage Remarks field.
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.
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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.
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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.
