The REcolorado Board of Directors passed a change to Listing Period Rule (Section 1.5), which states, “The listing period will begin when the listing is made Active and will continue until the listing is in an off-market status. This will be referred to as Days In MLS. If the listing broker and/or listing office expires and enters the same property within 30 days, a violation of the MLS rules will occur, and an immediate $100 fine will be assessed.”
What does the change mean?
The REcolorado Board of Directors is strengthening the language around and consequences of expiring listings. When a listing is expired as a broker-directed action, it manipulates MLS data and alters the accuracy of market activity. There will be an immediate $100 fine if the broker or anyone in their office expires and relists a property within 30 days.
Why Can’t I Expire and Relist?
Expiring and re-entering listings is a manipulation of REcolorado Matrix data and a violation of the Rules and Regulations. One of the reasons MLS organizations, including REcolorado, have rules is to make sure we all have access to accurate data, which is key to serving your clients. Accurate data includes how long the property has been in the MLS.
What happens if I expire a listing and re-enter it immediately?
If the listing broker or listing office expired and enters the same property within 30 days, it constitutes a violation of the MLS rules and an immediate $100 fine will be assessed.
If special circumstances arise, you can contact REcolorado Customer Care at support@REcolorado.com