Maybe MLS rules are made to be broken?

The MLS has rules and regulations that pertain to the listing information entered by the membership. Now that bank owned and short sale transactions make up the biggest percentage of the business being conducted throughout much of the area, these rules in my opinion are often ignored by agents who are either unaware, or are trying to game the system or just flat out do not agree with a particular rule or regulation.

For example I found in the public comments section of a listing recently comments from the agent that there are multiple offers and that the bank says no more are needed. This advisory was part of a listing that is clearly marked as being a short sale and is still showing as active or available for sale. Forget for the moment that the seller should be the one who decides if any other offers are necessary, this comment is opposite of what the rules state.

If there are to be no more offers submitted then this property either must be marked as pending or removed from the MLS. The rule that addresses this is Article 6: Refusal to Sell which states;

If the seller of any listed property filed with MFRMLS refuses to accept a written offer satisfying the
terms and conditions stated in the listing, such fact should be transmitted
immediately to MFRMLS and to all Participants by withdrawing the listing.

(bolding mine)

The bottom line in order to provide the best customer service to buyers and sellers, real estate agents need to be unison in how we regulate the information. If the property is still available then every buyer should have the right to make an offer. It is why we have the rule.


Related Florida real estate views:

Does my agent have to list my home as pending?

The key points that a real estate sales contract cover include