and Regulations Guidelines
MRIS® Rules and Regulations are found on the MRIS® Intranet
(Compliance Department) and on Fax-on-Demand (Document #505). Follow
these guidelines to avoid fines:
all new listings into the MRIS® system within 48 hours.
listing revisions within 48 hours
status changes within 48 hours.
reveal your password to anyone.
all information into the MRIS® system accurately.
converted listings to verify they are complete and accurate.
(Active and Sold)
listings into the MRIS® database prior to advertising the
that an expired or withdrawn property has not been relisted
prior to calling seller
THE CODE OF ETHICS
Article 1, Case #1-2
Honest Treatment of All Parties
the exclusive agent of Client A, REALTOR® B offered Client A's
house for sale, advertising it as being located near a bus stop.
Prospect C, who explained that his daily schedule made it necessary
for him to have a house near the bus stop, was shown Client A's
property, liked it, and made a deposit. Two days later, REALTOR® B
read a notice that the bus line running near Client A's house
was being discontinued. He informed Prospect C of this, and
Prospect C responded that he was no longer interested in Client C's
house since the availability of bus transportation was essential to
him. REALTOR® B informed Client A and recommended that Prospect C's
deposit be returned.
A reluctantly complied with REALTOR® B's recommendation, but then
complained to the Board of REALTORS® that REALTOR® B had not
faithfully protected and promoted his interests; that after Prospect
C had expressed his willingness to buy, REALTOR® B should not have
made a disclosure that killed the sale since the point actually was
not of major importance. The new bus route, he showed, would put a
stop within six blocks of the property.
a hearing before a Hearing Panel of the Board's Professional
Standards Committee, REALTOR® B explained that in advertising
Client A's property, the fact that a bus stop was less than a block
from the property had been prominently featured. He also made the
point that Prospect C, in consulting with him, had emphasized that
Prospect C's physical disability necessitated a home near a bus
stop. Thus, in his judgment, the change in bus routing materially
changed the characteristics of the property in the eyes of the
prospective buyer, and he felt under his obligation to give honest
treatment to all parties in the transaction, that he should inform
Prospect C and that in so doing he was not violating his obligation
to his client.
Hearing Panel concluded that REALTOR® B had not violated Article 1,
but had acted properly under both the spirit and the letter of the
Code of Ethics. The panel noted that the decision to refund Prospect
C's deposit was made by the seller, Client A, even though the
listing broker, REALTOR® B, had suggested that it was only fair due
to the change in circumstances.