NEW LOCKBOXES

Lockbox Trade-Out Event

SentriLock is revamping and upgrading lockboxes, and these new SentriGuard lockboxes will be available to VMLS Participants and Subscribers.

The Vail Multi-List Service will host a Special Trade-Out Event June 24 – June 28.

Lockbox Trade-Out Event

June 24 - 28

At the VBR in Edwards

During the trade-out event, you can bring in your old lockboxes and trade out up to four (4) at no cost.

If you recently purchased a lockbox from another broker and need to have it registered to you, please contact the VBR with the lockbox's serial number. We can transfer it remotely. This ensures you get credit for your lockbox and improves the trade-out process.

We can not trade lockboxes if you don't have the old lockbox in hand.

Representatives from SentriLock will be on-site at the VBR on June 24, 25, and 26 to assist with questions.

Please contact the VBR with questions or concerns at 766-1028. We will keep our members updated on the process.

NAR SETTLEMENT

After extensive deliberation, the VMLS has decided to opt-in to the settlement release and will be adopting all the necessary policy and rule changes outlined below:

• Eliminate offers of compensation from the MLS between listing brokers or sellers and buyer brokers or other buyer representatives.



• MLS participants acting for buyers would be required to enter into written agreements with their buyers before touring a home.

• These agreements can help consumers understand exactly what services and value will be provided, and for how much.

• After the new rule goes into effect, listing brokers and sellers could continue to offer compensation for buyer broker services, but such offers could not be communicated via the MLS.

This decision will protect us from potential and costly litigation directed at both VMLS and VBR. More importantly, it allows us to continue our mission of helping consumers buy and sell real estate.

Change can be challenging, but we will prevail as we always have.

To reiterate the timeline: VMLS will opt in to the settlement by the June 18th deadline. We then have until August 17th to adopt all necessary changes. VMLS will keep you informed about rule and functionality changes, specifically the removal of compensation fields from the MLS.

The Colorado Association of REALTORS (CAR) and the Division of Real Estate are working together to update the statewide forms to comply with the settlement. These will be published prior to the August 18th policy change deadlines of the settlement.

Please stay tuned for emails and notices from VMLS over the next several months as these changes are implemented.

Please find complete details on the settlement and the rules changes at The Facts for REALTORS® (facts.realtor)

CLEAR COOPERATION UPDATE

Optional Property Type Added

The VMLS Board of Directors has approved the addition of Single pre-and-under construction Single Family and duplex homes for sale or exchange as an OPTIONAL listing type in relation to the Clear Cooperation Policy. This means that VMLS will NOT require this property type to be entered into the MLS under the CCP.

The updated Mandatory and Optional Listing Types are highlighted below.

Section 1.1 Types of Properties

Mandatory Listing Types

Listings of real or personal property of the following types, which are listed subject to a real estate broker’s license, and are located within the Mandatory Listing Area of the MLS, and are taken by participants on an exclusive right-to-sell or exclusive-agency listing, shall be delivered to the Vail Multiple Listing VMLS, Inc. (“MLS or the VMLS”) within two (2) business days after all necessary signatures of seller(s) have been obtained, i.e. it becomes a listing:

a. Single family homes for sale or exchange.

b. Condominium, co-ops, and townhomes for sale or exchange.

c. Duplexes, triplexes, or quadruplexes for sale or exchange.

d. Vacant residential lots or parcels for sale or exchange.

e. Ranch Residential and Land for sale or exchange.

Optional Listing Types

The following classifications of property may be placed with VMLS at the option of the Participant, however listing, if entered, must be in compliance with the Rules and Regulations:

a. Single pre- and under- Construction single family and duplex homes for sale or exchange

b. Commercial for Sale or For Lease

c. Rental Properties (long and short term)

d. Shared Interest or Fractional Properties

e. Business Opportunity Interests

f. Parking Spaces

g. Sold Data Entry Only Listings

Clear Cooperation & Coming Soon Violations (Category 3)

Violations are serious and have similar fines to other Category 3 fines but do begin with a warning. Participants and subscribers have one (1) business day to cure violation to avoid additional fines.

It is considered a second, third or fourth violation if rule is violated again within a three (3) month period. A third Clear Cooperation or Coming Soon Violation could result in a fine plus a two-week suspension or termination from the MLS.

First (1) violation of rule: Warning

Second (2) violation of rule:

Clear Cooperation: $250 Coming Soon $250

Third (3) violation of rule: Clear Cooperation: $500 plus two-week suspension Coming Soon: $500



Fourth (4) violations of rule:

Clear Cooperation: Hearing

Coming Soon: $500 plus possible termination (hearing)

Each penalty for Failure to Comply is applied every one (1) business days (If applicable):

Clear Cooperation: $250

Coming Soon $250

Please email Jessica@vbr.net with questions.

VMLS RULES & REGS REMINDERS

URLs in Remarks

The VMLS no longer allows URLs in public remarks. All URLs need to be placed into the Agent Only remarks field. We still allow virtual tours, YouTube videos, etc., but those should be uploaded into the designated Video/Virtual Tour URL fields inside photo insertion in Flex.

Sold Entry Only

We allow off-market sales to be entered after closing under the Sold Entry Only property type. Please make sure to enter these within 2 days of closing. When pulling searches or reports, make sure to include Sold Entry Only WITH Residential, as they are entered under separate property types.

TRAINING RESOURCES

Flexmls Pro

For Mobile Web and Android

Wednesday, June 19

12:00 p.m. MT

REGISTER

Learn how to search for listings, share listings, create searches and subscriptions for prospects, view hot sheet activity, and more--all from your mobile device!

The Flexmls Client Portal

Thursday, June 20

9:00 a.m. MT

REGISTER

Review the portal basics and answer such questions as: How do I invite a contact to use my portal? What does my client see in their portal? Do my clients need to login to view their portal? Can my contact use the portal on their mobile device? And more!

NAR RESOURCES

MLS RULES & REGS

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