by Heather Andrews | May 10, 2013 | RMLS News
The RMLS™ Board of Directors recently approved a set of changes to the waiver system, recommended by a Waiver Task Force.
What is a Waiver?
When a principal broker joins RMLS™, all office licensees are also expected to become dues-paying subscribers.
A variety of circumstances may necessitate a request to waive these dues. A licensee may act solely as a personal assistant. Other licensees may oversee property management inside a realty office. A broker may fall ill and need to take time off due to their illness, or stop practicing for another reason. These situations are all common waiver requests.
What is Changing?
RMLS™ is required to give written notice to subscribers about rules changes. Beginning Monday, May 13, 2013, the following changes will take place:
- Individuals on waiver may not have their name or contact information included on any promotional material for any active listing on RMLSweb.
- The minimum time period for a waiver request will be six months, with the exception of an illness waiver, which will be three months.
- A $250 fee for violation of the terms and conditions of the waiver will be applied to participants (principal brokers) as well as the licensee on waiver.
- If a licensed personal assistant is found to be in violation, they will be charged back dues for full access, not to exceed one year.
- The “other” category will be removed, and a “Property Management” category will take its place.
Need to know more? Read the redlined waiver document. Click the links to apply for an RMLS™ waiver as a new subscriber, or apply for an RMLS™ waiver as an existing subscriber.
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!
by RMLS Communication Department | May 25, 2011 | Guest Post
Guest blog post written by Gail Hare, RMLS™ Executive Vice President
One of the core elements of a Multiple Listing Service is the offer of compensation. Each listing entered into RMLS™ shows the amount of the cooperating compensation in the BAC fields. This informs other MLS participants about their expected compensation before they try to sell the listing. Any change must be communicated in writing before an offer is submitted.
The cooperating commission is shown as a specific dollar amount or as a percentage of the gross selling price. The commission of the Listing Broker is never displayed. The total commission negotiated between the Listing Broker and the Seller is also never disclosed.
Dual or Variable Rate Commission
Some listing agreements have special terms if the Listing Broker also represents the buyer. Those terms state that total commission differs when there is no Cooperating Broker in the sale. This could affect the relative attractiveness of competing offers. Listings have a required field called “Total Commission Differs If Sold In House.” This is checked YES to alert MLS subscribers about this condition.
Short Sale Considerations
Short sales present many challenges. The lender may require a reduction in the gross commission as a condition of approving the sale. The Listing Broker may use the Private Remarks to describe how any reduction will be apportioned. If there is no notification by this or other means, Cooperating Brokers can reasonably expect the published compensation.
Remember!
Compensation and the division of compensation is not fixed or controlled in any way. Each Listing Broker independently decides the commission for each listing.
Disputes between REALTORS® regarding offers of compensation are resolved through arbitration and mediation.
For More Information
Read Section 6 of the RMLS™ Rules and Regulations to learn more about commissions, and Rule 3.25 to learn more about how short sales are handled. Please contact our Rules staff if you have questions. Call Vallerie Bush, Rules Administrator, at 503-872-8045 or Wanda Kennedy, Rules Representative, at 503-872 8084. They can also be reached by email at Rules@rmls.com.
by RMLS Communication Department | Mar 30, 2011 | RMLS News
RMLS™ posted its first listings in 1991! To honor our anniversary, we will be holding a special promotion of a reduced Office Initiation Fee during the upcoming months of April and May, 2011. In fact, all office initiation fees (branch, etc.) will be reduced to $50. This is a great opportunity for offices to join RMLS™ and experience the benefits of sharing with more than 10,000 Realtors® accessing your client’s listings.
Main Office Initiation Fee: Regularly $500, now just $50!
Branch Office Initiation Fee: Regularly $100, now just $50!
Affiliate Office Initiation Fee: Regularly $400, now just $50!
For basic membership information, visit www.rmlsbenefits.com. Questions? Feel free to email our Accounting department at accounting@rmls.com, or call them at 503-872-8003, or stop in to the nearest RMLS™ office.
Available in April and May, 2011 ONLY!
by RMLS Communication Department | Mar 30, 2011 | RMLS News
RMLS™ posted its first listings in 1991! To honor our anniversary, we will be holding a special promotion of a reduced Office Initiation Fee during the upcoming months of April and May, 2011. In fact, all office initiation fees (branch, etc.) will be reduced to $50. This is a great opportunity for offices to join RMLS™ and experience the benefits of sharing with more than 10,000 Realtors® accessing your client’s listings.
Main Office Initiation Fee: Regularly $500, now just $50!
Branch Office Initiation Fee: Regularly $100, now just $50!
Affiliate Office Initiation Fee: Regularly $400, now just $50!
For basic membership information, visit www.rmlsbenefits.com. Questions? Feel free to email our Accounting department at accounting@rmls.com, or call them at 503-872-8003, or stop in to the nearest RMLS™ office.
Available in April and May, 2011 ONLY!
The RMLS™ Board of Directors recently approved a set of changes to the waiver system, recommended by a Waiver Task Force.