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MLS Policy Manual and Rules Updated The latest revisions of the MLS Policy Violation Manual and MLS Rules and Regulations are available for download on the Forms page of the member portal.  To access the new MLS Policy Violation Manual through Member Portal:
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House Bill 466 Goes into Effect Thursday, October 24, 2024 HB 466 includes several changes to license law regarding Agency Agreements:
Summary Video available from Daphne Hawk, Superintendent of Real Estate and Professional Licensing: REPL – Sept 2024 License Lowdown” – Watch Video Ohio Realtors’ Summary of House Bill 466: House Bill 466 to take effect on October 24th, 2024
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New MLS Field: Existing Accessory Dwelling Unit A new field has been added to the Residential add/edit screen.  Summary of the new “Existing Accessory Dwelling Unit” field:
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Policy Violation Manual Updated You can now download the latest revision of the MLS Policy Violation Manual on the Forms page of the member portal. The manual has been updated for changes regarding the NAR Settlement. Effective August 16, 2024.  To access the new MLS Policy Violation Manual through Member Portal:
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MLS Rules and Regulations Updated – NAR Settlement A new version of the MLS Rules and Regulations is available on the Forms page through your member portal. The new version includes revisions necessary to comply with the NAR Settlement regarding compensation. To access the new MLS Rules and Regulations through Member Portal:
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New Columbus & Central Ohio Regional MLS Rules Go into Effect on Aug. 16 Beginning Friday, August 16, 2024, offers of compensation will be removed from the Columbus & Central Ohio Regional MLS, and written buyer agreements will become mandatory for all buyer’s agents. This will ensure that Columbus REALTORS® membership complies with the August 17 date of final implementation set in the proposed settlement terms with the National Association of REALTORS®. 1.) On August 16, offers of compensation will be prohibited on the MLS. Offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. Offers of compensation help make homeownership and the benefits of professional representation more accessible to buyers, including first-time homebuyers, increase homeownership opportunities for historically underserved groups, and benefit sellers by expanding the potential buyer pool. The Columbus & Central Ohio Regional MLS will remove the compensation fields from the MLS at 8:30 a.m. on August 16, 2024. At this time, compensation fields will be removed for all new listings. Over the next few hours, the compensation fields for all existing listings within the Columbus & Central Ohio Regional MLS will be removed. The process is expected to be completed by early afternoon on August 16. An important reminder to all MLS subscribers is that offers of compensation should not be conveyed through the MLS in any other form, including broker remarks, document attachments, showing instructions, hyperlinks to external websites with offers of compensation, etc. Essential Forms & Educational Resources Columbus REALTORS® members are encouraged to attend an all-member Zoom webinar on Thursday, August 15, at 2 p.m., during which upcoming changes and the most asked questions surrounding the changes outlined in the settlement will be discussed. Register for the All-Member Webinar Links to previous Columbus REALTORS® video content surrounding the NAR proposed settlement can be found below: Updated Policies & Fines 1.05.04 – Failure to Present Buyer Representation Agreement MLS Participants working with buyers are required to enter into written agreements with their buyers before touring a home. *NOTE: The $0 Fine (warning) will be removed on December 31, 2024. From January 1, 2025, the fine will start at $1000. If the MLS Participant is working only as an agent or subagent of the seller, then the participant is not “working with the buyer.” In that scenario, an agreement is not required because the participant is performing work for the seller and not the buyer. Authorized dual agents, on the other hand, work with the buyer (and the seller). The written agreement must include: Failure to meet this requirement will result in the following: 1.05.05 – Prohibited Compensation in MLS MLS Participants are prohibited from specifying any potential offers of compensation in the MLS, whether directly (such as in any field or uploaded document) or indirectly (such as link to showing scheduling services, etc.,). Any reference to compensation will be removed and a fine will be assessed. *NOTE: The $0 Fine (warning) will be removed on December 31, 2024. From January 1, 2025, the fine will start at $1000. Violation of this policy will result in the following:
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MLS Tip: PDFs in MLS – No Compensation Allowed Columbus & Central Ohio Regional MLS will remove all compensation-related fields on Friday, August 16. Question: Can I include compensation in a PDF that I upload to my listing? Answer: No. Documents uploaded to a listing cannot contain compensation information. All public and private documents that contain compensation information must be deleted from all on-market listings prior to August 17, 2024. Read more about the settlement at NAR’s facts.realtor and Columbus REALTORS® website.
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Compensation Fields: Removal from MLS – August 16 To ensure compliance within the Columbus & Central Ohio Regional MLS, Columbus REALTORS® is moving our implementation date to Friday, August 16. Two extremely important changes enforced due to the NAR settlement (additional NAR requirements here):
Read more about the settlement at NAR’s facts.realtor and Columbus REALTORS® website. What you need to know…
These fields will be completely removed from MLS on August 16th:
If you have any questions, please contact Columbus REALTORS at support@columbusrealtors.com or 614-475-4000. We thank you for your understanding and cooperation as we prepare our membership for these industry changes Read more about the settlement at NAR’s facts.realtor and Columbus REALTORS® website.
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New Field in MLS: Copyright of Content – June 3 Monday, June 3, a new, required “Copyright of Content” field has been added to MLS. The field requires that the agent select “Yes” to agree to the new mandatory MLS Subscriber agreement for each listing.  By checking the box and accepting this subscriber agreement, the MLS will be protected should it be later proved that the participating agent does not have the authority to upload data. Additionally, this agreement protects the Columbus & Central Ohio Regional MLS against copyright infringement or violation of Fair Housing Laws. This indemnification agreement was developed and approved by the association’s MLS Task Force and MLS Board of Directors in conjunction with legal counsel. Notices are being sent to all MLS participants today (May 29) and again on June 2 in preparation for the opt-in alert on June 3 in FlexMLS. Any questions about this agreement can be forwarded to Todd Laber, Senior Director of Technology, Columbus REALTORS®.
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Required MLS Indemnification Agreement – June 3 Monday, June 3, a mandatory agreement will appear when you login to the MLS. You will not be able to use the MLS until you agree to the pop-up. Details of the mandatory Indemnification Agreement appear below. ATTENTION REQUIRED for all Columbus & Central Ohio Regional MLS Subscribers Licensed Columbus REALTORS® Agents are receiving this communication to alert you to an upcoming agreement that will be appearing when you log in to FlexMLS on or after June 3, 2024. Effective June 3, 2024, an MLS subscriber agreement will appear on screen within FlexMLS requesting that agents agree that they have the appropriate licenses for the content they are uploading to the Columbus & Central Ohio Regional MLS.  By checking the box and accepting this subscriber agreement, the MLS will be protected should it be later proved that the participating agent does not have the authority to upload data. Additionally, this agreement protects the Columbus & Central Ohio Regional MLS against copyright infringement or violation of Fair Housing Laws. This indemnification agreement was developed and approved by the association’s MLS Task Force and MLS Board of Directors in conjunction with legal counsel. Notices are being sent to all MLS participants today (May 29) and again on June 2 in preparation for the opt-in alert on June 3 in FlexMLS. Any questions about this agreement can be forwarded to Todd Laber, Senior Director of Technology, Columbus REALTORS®.
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