Sunday, May 23, 2010

An additional short sale alert

Please also remember that in addition to the REALTOR being bound by the Code of Ethics anyone entering a property into the MLS database has a contractual obligation to follow its rules & regulations.

Remember that for a property to be eligible for entry into the MLS database compilation the MLS Subscriber MUST have an Exclusive Right to Sell/Representation agreement signed by the owner of the property on record at the appropriate county. This means representation agreements signed by the holder of an option to buy in a short sale transaction (not the actual owner) are ineligible for entry in the database.

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