MRED Blog

REinventing MLS . . .

Category Archives: MRED Rules and Regulations

Help – I made a typo in the list price field and saved my listing!!!!!!!

BY:  Sarah Burke, Compliance Manager

When proofing your hot new listing, you realize you input $3,200,000 instead of $320,000. Don’t worry – you’re not alone and mistakes happen.    Just send us a status change form and request a “price change new”.  Already made a price change?  That’s OK – send us a status change form anyway.  MRED will still adjust the original list price for you.  This way the OLP to LP won’t look like a drastic price reduction.

Test Your Fair Housing IQ

In honor of Fair Housing month click HERE to take NAR’S fair housing quiz.

Fair Housing Month

Don’t forget April is Fair Housing Month.  For more information on Fair Housing events in Illinois see the link below.

http://www.loansafe.org/illinois-department-of-human-rights-announces-start-of-fair-housing-month

What’s a Home Energy Rating System (HERS)?

BY:  Sarah Burke, Compliance Manager

It’s a scoring system used to indicate how energy efficient a home is.  The system tests a home individually and then the score can be compared to benchmark scores.  For example, If a home is built to meet the specifications of the HERS Reference Home, the house will receive a score/rating of 100.  New Energy Star homes score 85 or lower.  So  if a house uses ‘zero energy’ the score or rating would be ‘0’. The lower the HERS score the better.

 Last week the Rules and Regulations Department sent out 17 violation notices for invalid HERS ratings.   The properties in question had a HERS rating of “0” which happens to be the best rating you can get.  If you’re not sure what data belongs in a field check the help icon in listing input or give us a call.  Better to ask the question up front than publish a listing with inaccurate data. 

Click on the link below for more information.

http://www.greenbuildingadvisor.com/blogs/dept/musings/how-home-s-hers-index-calculated 

Thank You!

BY:  Sarah Burke, Compliance Manager

MRED would like to thank all of its brokers, agents and appraisers for helping to maintain the accuracy of the database by utilizing the report rules violation link in connectMLS™. Each error reported using this functionality is carefully screened before any action is taken. Once you have reported an error the Rules and Regulations department is notified. The error is then classified as an automatic error, a quality control issue, an error that can be fixed by the MRED staff, or dismissed as a mistaken error.

The Top Three reported errors for the Month of February were:

1)      Invalid Chicago Area number -334 

2)      Verify Listing Status -256

3)      Invalid Tax Amount  -233