20 Jan Explanation of X’s and 0’s

As a reminder, in 2018, the Global MLS Directors approved the requirement of the Listing Notification Form (LNF) for listings entered with the Service. Using the LNF enables MLS staff to review the main aspects of a Listing Contract without having to audit the contract itself. This process provides brokers security in their listings, knowing no one else will see their contractual information.

The MLS requires complete and accurate data in all listings. When sections of the accompanying LNF are incomplete, the MLS staff must request the information. This wastes a lot of time for all involved. In order for Global MLS to assist in any verification inquiry that may be made, the LNF must have complete and correct information.

In the current, very litigious atmosphere of our industry, the smallest items can cause undo scrutiny and accusations of lack of transparency.

GMLS is also constantly working to protect its data and the members who provide it. We are keenly aware of the 20+ lawsuits filed and the Department of Justice’s return to a reexamination of NAR, MLS, and members’ practices. By placing a numerical entry versus an X in the required commission fields, there is no question about what a Seller is offering.

Members may assume that an X in a commission line is clear, but a jury may not agree. While no member of GMLS has been fined for entering X’s on an LNF, we do request compliance.

Because 0 was an uncommon field entry, it has come to our attention that Zipforms does not allow a 0 to carry over into an LNF. We have contacted them for an immediate adjustment. In the meantime, there is a workaround. To correctly place a 0 in the commission field, if you hit the spacebar twice, the space will turn green, and you can then add a 0.

Organized real estate is facing immense challenges and many changes in 2024. Global MLS will meet and manage them on behalf of every principal broker, appraiser, and sales agent who claims GMLS as their MLS of choice.