MRIS Allows SOLD Listings in IDX

In their Quarterly Brokers' Update, Volume 3 September 2007, MRIS announced the ability for Brokers to display all and agents to display their own Sold Listings from the RETS data feed on their websites. There are a few rules as I will transcribe the full announcement:

"Listings Available for Display on Broker Web Sites

We all know that the Internet has changed the way we do business Information that once was only available through printed MLS books is now widely available to the public online on numerous Web sites, The information that appears on these sites, especially SOLD information, isn't always the most accurate or up to date, and that can be detrimental.

The MRIS Board of Directors has approved the display of SOLD listing information on broker Web sites. Any brokers subscribing to MRIS, or their authorized developers, who are interested in displaying SOLD listing information are now able to access this listing data via RETS The SOLD listing information may be displayed only on broker Web sites, not on agent or aggregator sites, and may not be redistributed.. Agents may display their own SOLD listings, with broker consent. [emphasis added]

The following fields must be included in any SOLD listings that are displayed:
• Listing Broker Name (firm name only, not the address, or contact info)
• Selling Broker Name (firm name only, not the address, or contact info)

The Compliance Committee recommended, and the Board approved, disclosure of both the listing and selling companies for each transaction, This ensures that consumers viewing the SOLD listings will not mistakenly believe that all SOLD listings displayed were sold by the broker hosting the display.

The following fields may be included in the display of SOLD listings, along with the main exterior photo and location map:

• Address	• Square Footage	• Bedrooms	• Garage
• Zip Code	• Age	• Advertised Subdivisions	• Seller Subsidy
• City	• Lot Size	• Full Baths	• # of levels
• Sold Price	• Original Price	• Half Baths	• Sold Date"

This is exciting news for brokers (and agents!) who belong to MRIS. The use of sold listing information can be used to highlight deals for potential clients and to help sell a home.

If you would like to know how this news can benefit your MRIS IDX, contact Real Estate Webmasters.

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