MLS Rule Changes Take Effect January 1st

The following TSMLS rule changes will go into effect January 1, 2013: The Active Contingent status will no longer be available; all listings with the Active Contingent status must be changed to Contingent with the sub status of Short Sale. 7.28 Short Sale (Lender...

Important: MLS Rule Changes

The following TSMLS rule changes will go into effect January 1, 2013: The Active Contingent status will no longer be available; all listings with the Active Contingent status must be changed to Contingent with the sub status of Short Sale. 7.28 Short Sale (Lender...

Three Changes to MLS Rules Take Effect 1/1/13

The following TSMLS rule changes will go into effect January 1, 2013: The Active Contingent status will no longer be available; all listings with the Active Contingent status must be changed to Contingent with the sub status of Short Sale. 7.28 Short Sale (Lender...

What is Variable Rate Commission?

Simply stated, the seller will pay a different commission if the property is sold by the listing broker.  The listing agent must disclose this when entering the listing into the MLS by selecting Y on item (49) VAR RATE Y/N.  Please see the rule below for the full...

Regarding Short Sales pending bank approval

As soon as an offer is accepted by the seller on an Active listing with the sub status of Short Sale, according to TSMLS rule 10.1, you must report the listing as Active Contingent.  Active Contingent is a sub class of Active, and meets the bank’s request to leave the...