by RMLS Communication Department | Feb 8, 2012 | Guest Post, Tips & Tricks
Guest post by Vallerie Bush, RMLS Rules Administrator
Compliance notification is not something our subscribers are excited to receive, and often they aren’t sure how they have broken the rules. However, in most cases the solution to their compliance issue is a simple fix! Below you will find 10 tips for avoiding RMLS™ compliance issues. Follow these rules and you’ll be on your way to a happy listing!
1. Picture Perfect – Add a Photo!
Without photos, potential buyers may pass up your client’s listing. In order to prevent this, make sure to add a photo to your listing as soon as possible. The rule is that you must add a photo of the exterior building view within 72 hours of adding a listing to RMLSweb. Subscribers also have the ability to upload photos to In-Progress listings. If the seller does not want a photo, you can have the seller sign a Photograph Omission Form, which is Document #1263 on RMLSweb.
2. Update Your Status
It’s important to update your listing’s status. If your listing has sold, make sure to change the status to SLD in RMLSweb. If your listing has an accepted offer, make sure to change the status appropriately. Remember, changes need to be made within 72 hours.
3. Double Trouble – Don’t Duplicate Listings
A listing may only be entered into RMLSweb twice if the property is able to be listed under two different categories. If you’ve got it listed twice as a Residential listing, we’ve got a problem.
4. Keep Your Password to Yourself
RMLS™ Rules and Regulations strictly prohibit sharing your RMLSweb password with anyone else. We do audit your login information to see if there are any duplicate logins that are suspicious, so please keep your password confidential.
5. Property Type Perfection
Not sure which property type to use? A definition of the property types can be obtained in Listing Load by clicking on the field. There is a separate Document #1270 for Residential listings.
6. Your Contact Information = Private Remarks Only!
The Public Remarks field is not meant to be an area for your phone number, contact information, showing information or broker/agent branding, so make sure to enter this information into the Private Remarks field instead (viewable only to other RMLS™ subscribers).
7. Play the Name Game
Owner Name is a required field that sometimes gets forgotten. If the owner does not want their name to appear on the listing, have them sign the Owner Name Omission Form, which is Document #1261 on RMLSweb.
8. The More (Showings), the Merrier!
The listings in RMLSweb must be available for showing when entered in RMLSweb.
9. Select the School Name
“Other” as the school name is only meant to be used temporarily until you can enter the correct school name. By entering the correct school name, potential buyers interested in that area will be able to find your listing!
10. Correctly Enter Tax ID Number
Sometimes, tax numbers aren’t entered exactly as they appear on the tax records. It’s important to make sure it’s entered exactly the same. You can be sure to get the correct number by using the Tax Autofill function when you start your listing. Also, remember not to use any extra wording in the address field and lot number should be added to the Unit/Lot Field.
Questions? Contact the RMLS™ Rules department at rules@rmls.com
by RMLS Communication Department | Jan 9, 2012 | Guest Post
Guest Post written by Randy Shervey and Bonnie Baldwin, Portland Rose City Chapter of NAIFA (National Association of Independent Fee Appraisers)
The recent one and one-half-day appraisers event that was held December 5th and 6th in Seattle, Washington, found many members of the Rose City Chapter of NAIFA in attendance together with a total audience of 150, which included appraisers from Oregon, Washington and California. While some of the time was spent on properly utilizing the required Uniform Appraisal Dataset (UAD) format, this event provided an enlightening and informative presentation that included many other interesting topics and eleven hours of Continuing Education Credit.
The sponsor of this event was Lender Support Services, a newly formed management division of US Bank that was created as a result of the new requirements from Dodd-Frank. The event was prompted by the less than desirable quality of the appraisal reports they were receiving from various third party providers.
As part of the fifth largest bank in the nation Lender Support Services anticipates expansion of their coverage areas 10 fold in the coming months and wants to provide a source of business for top quality appraisers. A key point emphasized was that they will require good quality, well documented, USPAP compliant appraisals and they stated numerous times throughout the presentations “we’re looking for the best appraisers” and “we are willing to pay for the best appraiser.” They indicated payment for all completed appraisal work will be made within 30 days from receipt of the approved appraisal. They are also considering implementation of a direct deposit option that will ensure even prompter payment.
We as Appraisers have heard similar lip service before from various potential and/or current clients, however US Bank is the first major lender to actually step outside the box, own up to their obligations, and extend themselves with a precise business model that is intended to enhance their ability to better recognize and develop the best approved appraiser panel. They are making a sincere effort by working together with the appraisal community to provide educational development, communication and recognition of what we as fee appraisers deal with on a daily basis.
Their presentation included a team of six key members of their staff as speakers. Tony Pistilli, Chief Residential Appraiser, discussed the procedures for US Banks residential lending process. Todd Loudenslager, Senior VP and Senior Risk Officer informed attendees of the Banks obligations from a regulatory standpoint in the areas of fraud, disaster recovery, and operations, emphasizing that consistency in the valuation process is what federal regulators want. Rick Davis, Assistant VP, of Collateral Assessment, presented their policy on appraisal review. He pointed out that Underwriters will no longer be responsible for the appraisal review process. Each and every appraisal completed for US Bank’s Lender Support Services will be reviewed by their in-house review appraisal team, which is staffed with appraisers only. Jennifer Blake-Parson, Appraisal Training Manager, discussed the training side of the process and will assist in the review process by instructing/training the appraiser in correct methodologies and appraisal skills whenever a need is indicated.
The last day of the event included a presentation by Mark Linne of Bradford Technologies. He shared his vision of the future for the appraisal industry and expressed a true understanding of the external pressures and uncertainty of the business environment we work in today. It was a thought provoking presentation that emphasized the need for innovation in the appraisal process and what he feels we as “Independent Fee Appraisers” need to do to remain viable in the future.
In an effort to step up their recruitment and retention of the “best appraisers” US Bank offered those of us who attended the opportunity to personally meet the appraisal team, so that we could learn and have a greater awareness of their perspectives and the new business model.
It was a refreshing and new experience for a lender to provide the opportunity to learn and grow together as industry partners. As attendee’s at this event we came away with a new optimism for the future of our business and felt that by stepping outside the box US Bank created an image of themselves as a leader by restoring respect for and recognizing the integrity of what we as “Independent Fee Appraisers” do. Other lenders and users of appraisal services take heed: “The Cream of the Crop will rise to the Top.”
Just as US Bank has stepped outside the box to become a leader in developing a more positive relationship with appraisers, placing good quality, well documented, USPAP compliant reports as a top priority, your local NAIFA Chapter will strive to take steps in 2012 to create opportunity through the individual development and education of its members and by fostering a greater awareness and more positive relationships with industry partners that include lenders, third party providers, Home Builders, Realtors and Legislators in an effort that will enhance the appraisers future in this ever changing profession.
by RMLS Communication Department | Dec 12, 2011 | Guest Post
Guest Post Provided By Jo Becker, Education/Outreach Specialist, Fair Housing Council of Oregon
Last month, we posted a poem provided by the Fair Housing Council of Oregon that described fair housing topics using the letters of the alphabet. The poem was broken up into two parts. Here is the second (and final) installment to the poem, Fair Housing is as Easy as ABC, Let’s Do it With Some Poetry!
Click here to read the poem: Fair Housing Poetry Part 2 (N – Z)
by RMLS Communication Department | Nov 7, 2011 | Guest Post
Guest Post Written By Jo Becker, Education/Outreach Specialist, Fair Housing Council of Oregon
In typical Nadeen Green-style, following is a spirited take on the legalities of fair housing law in poetic form. Ms. Green is an attorney who has spoken on fair housing topics to residential rental audiences across the country since the Fair Housing Amendments Act’s inception in 1989.
Here at the Fair Housing Council (FHCO) we make ourselves available to those who feel their fair housing rights have been violated, as well as to those with fair housing questions, including housing providers! If you have a question about your rights or responsibilities under federal, state, and local fair housing laws, please visit us at www.FHCO.org or call our free Hotline at 800/424-3247 Ext. 2.
Click here to read the poem: Fair Housing Poetry Part 1 (A – M)
by RMLS Communication Department | Sep 21, 2011 | Guest Post, Realtor Safety
Guest Post Written by Kelly McKenna, Administrative Assistant at RMLS™!
These are lean and mean times in which we live. REALTORS® face occupational hazards that simply do not exist in most other industries. A recessed market seems to only encourage more bad behavior from those looking to take advantage of real estate professionals and the susceptibilities within their profession. So to celebrate REALTOR® Safety Month, listed below are some of the more prominent safety concerns reported to us over the years including a short list of scams special to the real estate community.
Lockbox Theft: Regardless of price brackets, there has been a surge of lockbox theft all across the state. Vandals have been known to remove an entire doorknob or guardrail just to get to a lock box. Usually, that’s the extent of the damage. The perpetrators cut the shackle with bolt cutters and take it to another location to try the lock’s mechanisms, expecting to come back to the property later. Either they are unsuccessful, or the locks have been changed by then.
Unfortunately, there are other times when they are able to access the property. There have been reports of staged houses getting completely cleaned out, down to the copper wiring. It’s rotten luck, but is a possibility to always consider when listing a vacant house.
In the event of a stolen lockbox, absolutely have your clients change the locks. Consider putting the lockbox in less conspicuous areas around the property to deter the more impulsive vandals. Staging furniture, timed lights and even house-sitters are great solutions to consider if you are worried your listing is susceptible to vandalism and theft.
Squatters: This is an extension of people gaining access to vacant listings unlawfully. Keep checking on your listings from time to time, even if there are no showings for the week. Certainly call the police if ever you get the sense that someone is in the house and never enter it until backup arrives.
Other Theft: Open houses, broker tours and regularly scheduled showings have all served as backdrops for theft, particularly that of prescription drugs. Sometimes working alone or in pairs to serve as a decoy, people will rummage through bathroom drawers and medicine cabinets or wherever they think they might find… something. Unfortunately, theft occurs during private showings, too. This is limited to small items like jewelry or a box of checks. Please advise sellers to lock up everything when their house is being shown in any capacity.
Harassment & Harm: General safety precautions such as the buddy system and alerting people to one’s whereabouts are essential when meeting with new clients. There have been reports ranging from phone or e-mail harassment to REALTORS® cornered or even mugged at showings or worse. Know your surroundings and limit your vulnerabilities as much as possible when alone or meeting someone for the first time.
Craigslist Rental Scams: REALTORS® are increasingly victimized by individuals taking their listings or photos from the internet and posting them on bulletin sites in attempt to secure deposits from prospective renters. Flag these listings whenever you encounter them and, if you like, contact the FTC and FBI’s Internet Crime Center. Find more information at http://www.ic3.gov/default.aspx and http://www.craigslist.org/about/scams.
Large Homes, All Cash, Quick Escrow…: You usually lose nothing but time and gain only frustration with deals that seem too good to be true. A prospective buyer claims to have X amount of money, all cash, and needs a quick closing. Everything is perfect until the time comes to submit earnest money or sign papers. Always go on instinct and trust your judgment.
Leads for FSBO Listings: Someone claims connections with frustrated FSBO’s who need REALTORS® or other listing leads and attempts to sell these names for $10-15 a head. Usually they claim to get their leads through an affiliation with either a reputable brokerage firm or educational institution. The names are either of FSBO’s with no interest in working with an agent, or home owners who are not even in the market to sell. Always approach such offers with extreme caution.
Overseas Transactions: People from overseas purchase property all the time. However, scams originate overseas as often as they do locally. It is always a good policy to enter into transactions with people you can see past an e-mail and with verified funding.
Real Estate Scam for Lawyers: Someone will contact a real estate agent expressing interest in a large property. They will then request a recommendation for an attorney to set up a trust for escrow, sending a cashier’s check to the attorney for an exorbitant amount of money. After the deal is written, the scammer then rescinds and requests a refund back when the original check was no good in the first place.
The nature of the business of real estate requires REALTORS® put themselves in potentially dangerous situations. Meeting strangers in strange places is business as usual. Please be sure to take precautions at every chance for every scenario. It will work out so much better in the long run. For more information, please contact your local and national associations as well as your local MLS.
by RMLS Communication Department | Aug 25, 2011 | Guest Post
Big news from the RMLS™ Board of Directors!
Written by Kurt von Wasmuth, President & CEO of RMLS™
Recently, some very important actions were taken by the RMLS™ Board of Directors. The steps they took protect all RMLS™ subscribers and their businesses. These actions should be understood and celebrated by all involved with RMLS™ (subscribers, shareholders, vendors and staff).
CIVIX-DDI LLC (CIVIX) is a corporation that holds a patent that it believes every MLS in the country currently violates. CIVIX’s patent is for an online system that allows users to search, display and transmit data. As you can imagine, all MLSs and innumerable other online companies use technology that allows users to perform these functions.
CIVIX has been pursuing this patent infringement claim against many online businesses, such as companies like Microsoft, Expedia, Move Inc. (operator of Realtor.com®, Top Producer Systems®, ListHub®, etc.), which have all settled after consulting with legal attorneys regarding this claim.
In May of this year, MRIS (then-largest MLS in the country), also chose to settle with CIVIX, instead of risking the large fees involved with fighting a lengthy legal battle. In response, RMLS™ worked in conjunction with about 50 other MLS providers to ask the National Association of Realtors® to step in to see if they could negotiate a fee for CIVIX to leave the real estate industry alone.
Their response was for MLSs to pay $7.5 million dollars (roughly $9.06 per subscriber).
RMLS™ has paid this fee per subscriber, which amounted to just under $100,000, and as a result, is now covered and cannot be sued for this patent infringement. Furthermore, this settlement covers all of our shareholders, brokers, agents and software vendors in this area.
Last, and maybe the best news of all, is that the RMLS™ Board of Directors voted to pay this fee out of our RMLS™ emergency funds. This means that there will be no special assessment to subscribers and we will not have to raise dues in order to cover this payment.
I think the Board was generous as well as cognizant of today’s marketplace when they decided not to pass the cost on to our subscribers. Although there is no call to action for our subscribers, they should know that they are covered and that the fee has already been paid.
Thank you for your ongoing support of RMLS™.
To view a special video message from Kurt on this topic, go to http://bit.ly/Kurt8242011
Or, click on this image below!
Compliance notification is not something our subscribers are excited to receive, and often they aren’t sure how they have broken the rules. However, in most cases the solution to their compliance issue is a simple fix! Below you will find 10 tips for avoiding RMLS™ compliance issues. Follow these rules and you’ll be on your way to a happy listing!