Please note : this article is a snapshot of a message that was posted on the MLS system at some point within the last year. Things evolve rapidly in our industry, and the information in this article may have changed since it was first published. Compliance Corner articles are not updated after they are published, even if the information contained within has changed.
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Compliance Corner #23
August 1, 2020
TOP 3 Compliance Issues (and How To Avoid Them!!!)
WRONG SUPPLEMENT TYPE
When saving documents to the Supplement section of Matrix, make sure you choose the correct Supplement Type. Our Data Checker program automatically checks for the Supplement Type on Listing Agreements and Coming Soon Addendums and if you choose the wrong Supplement Type OR lump the documents together as one, you will be flagged and possibly fined.
https://smartmlshelp.zendesk.com/hc/en-us/articles/360018124332-Document-Manager-Private-documents-
DELAYED ENTRY DATE
Whether you are utilizing the Delayed Entry Form or #18 on the Smart MLS Listing Agreement, the GO ACTIVE DATE you and your Seller(s) have decided on is the date to be used as the LIST DATE when entering the property into Matrix. This will start the Market Time clock excluding the days between the List Date on the Listing Agreement and the Delayed Entry Date/Go Active Date therefore minimizing Days on market.
PROPERTY/PARCEL ID
Using the correct PIN when entering your listing is important for several reasons. First, it auto fills important information into your listing upon input and secondly attaches the Public Record to your listing for quick and easy reference by you and other agents.
The SmartMLS Matrix system does not use the same Parcel ID that you find on a field card. Matrix uses unique parcel ID numbers because our database covers the entire state of Connecticut (whereas the individual town databases cover only that town, leading to the very real possibility that two separate towns use the same Parcel ID for different properties).
You can find the Parcel ID numbers in our system by using the
Tax
tab and entering the County, Town and Address fields:
Compliance Corner Archive
Have you ever wanted to revisit a past Compliance Corner article that is no longer available in Matrix? Now you can. Simply click this link Compliance-Corner-Archive or enter compliance corner in the SMARTDESK search bar and you will be able to view all past articles.
As always, please feel free to contact the Compliance Team for additional information.
Compliance questions? Send an email to Compliance@SmartMLS.com or call us at 203-750-6000.
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