Compliance Corner #11
December 16, 2019
Upload Listing Agreements – What do we do with them????
By attaching the Listing Agreement and corresponding addendums/forms to your listing, SmartMLS can review any compliance concerns instantly. This allows us to efficiently confirm that the information in the listing agreement coincides with the information on the MLS. Doing so ensures all SmartMLS listings are following the same rules and makes it possible to perform accurate and consistent comparisons on all listings for such information as Days on Market.
This applies to all of the following required uploads:
- Listing Agreement
- Listing Agreement Compliance Certification
- Coming Soon Addendum
- Delayed Listing Addendum
- Withhold from MLS form
SmartMLS Staff verifies that each listing has a valid Listing Agreement or Listing Agreement Compliance Certification and that the form is properly completed and executed. The relevant data on the Listing Agreement/Listing Agreement Compliance Certification form is then compared to that which appears on the listing in Matrix. If there are any discrepancies, the List Agent is contacted by our Quality Assurance team and the two work together to resolve any outstanding issue(s).
Items we compare include:
- Listing Dates
- Expiration Dates
- List Prices
- Variable Rate Commission
Additionally, we make sure that the documents have been saved under the proper Supplement Type. If you are notified and asked to correct something, please feel free to simply make the change, reply by email or call us to discuss. We do not want there to be any lingering confusion or misunderstanding, so please reach out to us if you have any question whatsoever. We want this to be a positive learning experience.
Please understand that this process is designed to protect, not punish.
NOW AVAILABLE: Compliance Corner Archive!
Have you ever wanted to revisit a past Compliance Corner article that is no longer available in Matrix? Now you can. Simply click this link Compliance-Corner-Archive or enter compliance corner in the SMARTDESK search bar and you will be able to view all past articles.
As always, please feel free to contact the Compliance Team for additional information.
Send an email to Compliance@SmartMLS.com or call us at 203-750-6000.