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Top 10 Compliance Notices and How to Prevent Them

November 16, 2011  |  by Anne

Have you ever received a compliance notification that you were surprised by? Don’t wait until your warning to learn how you can prevent future notifications.

1. Delinquent Settlement Date:

Don’t be late, update that Settlement Date!  If your listing has settled, change the status to SOLD.   If settlement has been postponed, revise the estimated close date.  If the property is not going to close, revise the status to ACTIVE or to WITHDRAWN.

2. No Photo:

Pictures sell!  You must add a photo of the exterior of the property within 48 hours of adding a listing to Keystone.  The photo from the previous listing does not carry over to your new listing. You may not use a photo from another agent’s listing.  If the seller does not want a photo or you need additional time to shoot a photo, select the “No Photo per Seller” option.

3. No Tax ID number:

The tax number must be entered exactly as it appears on the MRIS Public Records.  To avoid errors, use the Tax auto-fill feature in Keystone.  Remember; do not use the street type (Ave. Blvd., etc.) or the Advertised subdivision in Tax Auto-Fill search.

4. Delinquent Temp Off Status:

Life happens.  If your listing is in Temp Off status, change the status back to ACTIVE within 21 days or contact the Compliance Department for an extension if needed.

5. Inappropriate Remark Information:

Lose the numbers.  Do not enter phone numbers, contact information, broker or agent branding, showing instructions or references to compensation in the Internet remarks.  This information may be entered into the general (agent) remarks.

6. Delinquent Contingency Expiration date:

You’re late for a very important date!  Please remember to update you contingency expiration dates if the last contingency expiration date (contingency due date) is in the past.  Once the contingencies have been met change the status to CONTRACT.

7. Inappropriate Direction Information:

Buyers can get to your listing if you provide complete directions on listings.  References to Use GPS or other on-line mapping programs are prohibited.

8. Delinquent App Reg:

Do pass go and collect $200 rent.  Please update the App Reg status to RENTED status if the rental application has been accepted or back to ACTIVE status if the application is not accepted.  If you receive a Compliance notice and the landlord needs more time to review the application, contact the Compliance Department

9. Duplicate Listings:

Seeing double?    A listing may only be entered into MRIS twice if the property is both for Sale and for Rent.

10. Shh! Password Sharing:

My lips are sealed!  Sharing your MRIS password with anyone is strictly prohibited by MRIS Rules and Regulations.  Please keep your password confidential.

 

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8 responses to “Top 10 Compliance Notices and How to Prevent Them”

  1. For directions-I see Use Gps or use map a lot. If this is prohibited – how come I see this often? No violation notices are sent for these? Thx!

  2. Shirley George, GRI says:

    It is a good rule; that we cannot use anything except actual directions, I would like to see it continually enforced. MANY THANKS……. to all of you at MRIS who help us on a daily basis!!!

  3. I would like to see all agents using sentrilock like they're suppose to, that would make everyone's job easier and safe.

  4. lorena rojas says:

    thanks, these are great reminders!

  5. T.Fernandez says:

    Following these rules will ensure data integrity too!

  6. Will Marin says:

    Please enforce the SEE MAP or GOOGLE directions, and fine those people for not paying attention to how they get
    to their listings, (absentminded RE agents or not!)

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