Rules and Regulations: SECTION 3: LISTING PROCEDURES
3.1 – Submission of “Active” MLS Listing Information
3.1.1 MLS Listing Information of real properties of the types set forth in Section 3.2, for sale or rent or lease, which are listed subject to a Participant’s license, and which are located within the MLS Listing Areas taken by Participants or Subscribers in order to be entered into the MLS System must be “Exclusive Right to Sell or Lease Listings” or “Exclusive Agency to Sell or Lease Listings” signed by the seller or landlord and accepted by the Participant. The listing Participant or Subscriber must enter properties located within the MLS Listing Areas into the MLS System within two (2) Business Days of the Commence Date. All MLS Listing Information entered into the MLS Compilation shall be complete and accurate in every detail. Participants are required to correct any known errors in their MLS Listing Information.
Compliance Guidelines: SECTION 5: SERIOUS VIOLATIONS
1. – Failure to enter a listing within one (1) business day after publicly marketing the property;
Fines for Serious Violations are as follows:
• First Infraction: Warning notification
• Second Infraction: $250.00 fine
• Third Infraction: $500.00 fine; and referral to MLS Board of Directors for review and discipline if applicable.