FREQUENTLY ASKED QUESTIONS
Q. What is MLS?
A. MLS stands for Multiple Listing Service, a service which is provided for International REALTOR® Members (IRM) . It is the exchange of property information for sale or lease and offers of compensation that lead to cooperative sales and lease transactions.
Q. What are the basic elements of MLS?
A. Basic Elements:
a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and customers and the public
a means by which authorized participants make blanket unilateral offers of compensation to other participants or
a means of enhancing cooperation among participants
a means by which information is accumulated and disseminated to enable authorized participants to prepare appraisals, analyses, and other valuations of real property for bona fide clients and customers
a means by which participants engaging in real estate appraisal contribute to common databases
Q. Who can participate in the MLS?
A. All International REALTOR Members (IRM) of CREBANAR Global Real Estate Council and PRC licensed real estate practitioners and other PRC professionals related to real estate industry can join the MLS.
Q. How can I be an International REALTOR Member (IRM)?
A. All PRC Real Estate Practitioners can sign up for membership and pay their NAR Membership dues through CREBA NAR Global Real Estate Council.
Q. Is participation to MLS required to all IRMS?
A. Participation to MLS is optional but it is a service exclusive to IRMs only.
Q. Is MLS membership Free?
A. All MLS fees, dues, and charges, including, but not limited to, initial participation fees, subscription fees, etc., may be assessed to MLS participants or to individual users or subscribers.
Q. Is an Authority from the Client required to list or upload a property ?
A. Yes, an Authority To Sell/Lease from the Seller/Lessor to the Broker is required for all Listings to be uploaded at www.mls.com.ph
Q. How will Listings be safe with other participants of the MLS?
A. Participants shall not solicit a listing on property filed with the service unless such solicitation is consistent with Article 16 of the Realtors®’ Code of Ethics, its Standards of Practice, and its Case Interpretations.This section is to be construed in a manner consistent with Article 16 of the Code of Ethics and particularly Standard of Practice 16-4. This section is intended to encourage sellers to permit their properties to be filed with the service by protecting them from being solicited, prior to expiration of the listing, by brokers and salespersons seeking the listing upon its expiration.
Without such protection, a seller could receive hundreds of calls, communications, and visits from brokers and salespersons who have been made aware through MLS filing of the date the listing will expire and desire to substitute themselves for the present broker.
This section is also intended to encourage brokers to participate in the service by assuring them that other participants will not attempt to persuade the seller to breach the listing agreement or to interfere with their attempts to market the property. Absent the protection afforded by this section, listing brokers would be most reluctant to generally disclose the identity of the seller or the availability of the property to other brokers.
This section does not preclude solicitation of listings under the circumstances otherwise recognized by the Standards of Practice related to Article 16 of the Code of Ethics.
Q. Are Listings filed with MLS exclusive to Participants/ Subscriber/?
A. Any Listing filed with the Multiple Listing Service shall not be made available to any broker or firm not a member of the Multiple Listing Service without the prior consent of the listing broker.
Q. Can a participant reproduce MLS-generated information?
A. Participants /subscribers or their affiliated licensees shall not reproduce any MLS compilation or any portion thereof, except in the following limited circumstances:
- Participants/Subscribers or their affiliated licensees may reproduce from the MLS compilation and distribute to prospective purchasers a reasonable number of single copies of property listing data contained in the MLS compilation which relate to any properties in which the prospective purchasers are or may, in the judgment of the participant or their affiliated licensees, be interested.
Any MLS information, whether provided in written or printed form, provided electronically, or provided in any other form or format, is provided for the exclusive use of the participant and those licensees affiliated with the participant /subscriber who are authorized to have access to such information. Such information may not be transmitted, retransmitted, or provided in any manner to any unauthorized individual, office, or firm.
None of the foregoing shall be construed to prevent any individual legitimately in possession of current listing information, sold information, comparables, or statistical information from utilizing such information to support an estimate of value on a particular property for a particular client. However, only such information that is has deemed to be non confidential and necessary to support the estimate of value may be reproduced and attached to the report as supporting documentation. Any other use of such information is unauthorized and prohibited by these rules and regulations.
Q. Is Reporting of Sales to the MLS mandatory?
A. Yes, all Sales of listed property shall be reported promptly to the MLS by listing brokers.
Q. Can Listings be withdrawn from a multiple listing service by participants prior to the listing’s expiration date?
A. Yes, Listings may be withdrawn from a multiple listing service by participants prior to the listing’s expiration date.
Q. Will MLS display expired, withdrawn Listings?
A. No MLS will remove expired and withdrawn Listings.
Q. Will MLS display confidential information fields intended for cooperating brokers rather than consumers including compensation offered to other MLS participants, showing instructions, property security information, etc?
A. No, MLS will prohibit display of any confidential information.
Q. Will MLS display seller’s(s’) and occupant’s(s’) name(s), phone number(s), and e-mail address(es)?
A. MLS will maintain confidentiality of Seller’s information.
Q. Does MLS fix, control, recommend, or suggest the commissions or fees charge by the listing broker to a cooperating participant?
A. No. In filing property with the multiple listing service, participants make blanket unilateral offers of compensation to the other MLS participants/subscribers and shall therefore specify on each listing filed with the service the compensation being offered by the listing broker to the other MLS participants.This is necessary because cooperating participants have the right to know what their compensation,fees and referrals prior to commencing their efforts to sell.
Q. What happens to the Listings of suspended/expelled participants/subscribers?
A. When a participant of the service is suspended/expelled from the MLS for failing to abide by a membership duty (i.e., violation of the Code of Ethics, association by laws, MLS bylaws, MLS Policies and rules and regulations, or other membership obligations except failure to pay appropriate dues, fees), all listings currently filed with the MLS by the suspended/expelled participant shall, at the participant’s/subscribers option, be retained in the service until sold, withdrawn or expired,and shall not be renewed or extended by the Multiple Listing Service beyond the termination date of the listing agreement in effect when the suspension/expulsion became effective.
If a participant/subscriber has been suspended/expelled from the association, for failure to pay appropriate dues, fees, an association MLS is not obligated to provide Multiple Listing Service including continued inclusion of the suspended/expelled participant’s listings in the MLS compilation of current listing information. Prior to any removal of leave or unsubscribe participant’s listings from the MLS, the suspended/ expelled participant should be advised, in writing, of the intended removal so that the resigned participant may advise his clients.
Q. What happens to the Listings of on leave or unsubscribed participants/subscribers ?
A. When a participant /subscriber of the service leave or unsubscribe from the MLS, the MLS is not obligated to provide services, including continued inclusion the leave or unsubscribe participant’s Listings in the MLS compilation of current listing information. Prior to any removal of an on leave or unsubscribed participant’s listings from the MLS, the resigned participant should be advised, in writing, of the intended removal so that the on leave or unsubscribed participant may advise his/her clients.
