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2012 Mandatory Compliance Form Regarding MLS Changes and Listing Broker Sign:  The following language is a detailed explanation of the "ACCURACY OF MLS AND TIMELY CHANGES OF STATUS" portion of your listing agreement. Please understand the extreme circumstances our members are trying to work under at this time. We must stress the importance of keeping the MLS data current. Our members and the general public are depending on the accuracy of the MLS information.  Due to numerous violations and fines imposed on the Listing Broker by the MLS Boards resulting from seller's direct failure to comply with the "ACCURACY OF MLS AND TIMELY CHANGES OF STATUS" portion of your listing agreement,  ALL fines are set at $500 dollars. All sellers presently listed with, dba are required to review and e-sign the " 2012 Mandatory Compliance Form Regarding MLS Changes and Listing Broker Sign:" by January 15th, 2012. Failure to comply and return the form will demonstrate unwillingness or intent to non-compliance and will result in a "Withdrawal" from the MLS.    Activation  back in the MLS  if "Withdrawn"  for this reason will require a $500 deposit, refundable at closing if no penalties were incurred. Reports of inaccurate data come from the general public and realtors.  The MLS also continuously audits listings all types of violations. Most common violations our sellers have been fined for are :  Status Changes Not Reported Within 24 hours To Listing Broker:  Active to Under Contract,  Active to Contingent,   Contingent to Under Contract/Pending (this is when the contingency has been removed), Failure to notify Listing Broker when the closing date has been extended or moved to an earlier new closing date.   Under Contract to Sold,  Failure to notify Listing Broker when property is Leased Failure to Utilize Listing Broker's Sign Provided,  Failure to Notify Listing Broker if your contact information has changed and you can no longer be reached, Submitting A Status Change Which Reflects Dates That Violate the 24 Hour Rule (Since we are required to sign all purchase agreements,  the seller is required to provide the Listing Broker a copy of the Executed-Accepted Purchase Agreement when the listing goes Under Contract and a copy of the HUD-1 statement upon closing.   These documents are used to verify and cross-reference Status Changes submitted by the seller for accuracy.) In accordance with your listing agreement, please keep us updated as soon as things change with your listing.  Fines our brokerage incur range from $100-$500+ dollars per incident or inaccuracy that gets reported to the MLS as well as penalties, suspension, and forced re-indoctrination to the MLS against the brokerage.  These acts imposed by the MLS Board cause far more monetary strain on the Listing Broker and has resulted in Flat Fee MLS Listing Brokers leaving the MLS, hence, forcing Full Service the only option left for sellers. According to your listing agreement, you shall be held accountable if deemed your fault.   The seller will be charged $500 dollars/per incident, to the credit card we have on file you provided. If your credit card is declined upon processing your fine,  the amount will be added to your closing costs payable to the Listing Broker at Closing.  You will receive 24 hours notice of the fine and fee prior to processing your card.    You may elect an alternative payment during this time.   Adding the amount owed to be paid at closing is the preferred alternative.     If the contract falls through, Expires or you Withdraw your listing from the MLS while a fine is owed,  payment will be processed 24 hours thereafter. MLS staff as well as Realtors® report yard sign violations. Please ensure that you do not have any FSBO signs in your yard. Please remember, there is NEVER a charge for these Broker Directed Changes or Status Changes.  There is ALWAYS a fine if you fail to comply, whether the MLS Board fines the Listing Broker or not.  (A fine is paid for the non-compliance.  MLS Boards keep a record and automatically submit penalties against the Listing Broker when data is reported and it reflects a violation of the rules.   If non-compliance is shown at any time and the seller is found guilty by the Listing Broker,  the seller will be fined.) Please note that when your listing status changes from "Active" to "Contingent, Open Predication, Pending, or Under Contract," that your listing will no longer appear in the public domain sites of the MLS or, but will still be actively viewed by Realtors® internally in the MLS for consideration, especially those with "Open Predicated or Pending" offers. Agents may still call upon you to inquire on the proceedings of the contract at hand and whether or not you are still showing or accepting back up offers. Thank you in advance for your diligence in this matter. Sincerely, Jude T. Smith-Broker/Owner, Inc. dba 888-657-5833  Ext. 1 1022 Saint Peter Street #204 New Orleans, Louisiana  70116    

By signing this form,  the following statement is binding: "I agree that I have read this message and that my current status is accurate as of this date.   I further understand and agree to pay any fines or fees via my credit card on file with the Listing Broker if found guilty for non-compliance." Please print a copy for your records to assist you in keeping us abreast of the following status of your listing and to avoid paying a fine. MLS/Listing ID#


I agree that I have read this message and that my current status is accurate as of this date:


Active Active Contingent

Current Status of Listing: Name and Signature of Seller(s)


2012 Mandatory Compliance Form-, Inc. dba