Jeff Hudson
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06-25-2008 11:09 AM ET (US)
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The following is the CRIS Board of Directors reasoning behind the recent rules additions, as relayed by CRIS Rules & Regulations Administrator Jackie Hineline:
"The issues with the use of the words 'Seller' and 'acceptable' comes from both NAR and OAR. It was determined that in the MLS, only MLS Participants and their agents are held accountable and not the end consumer. In other words the Seller can not offer anything in the MLS as they are not members and if litigation did come about from something offered by a Seller via the MLS that an agent/broker would not be able to go after the Seller. They would have to go after the other MLS Participant. That doesn't mean that you couldn't use phrases such as 'closing costs may be offered with full price offer' or something like that.
The phrase 'acceptable' has just been abused the last few years. What may be 'acceptable' to one party may not be to another. So, now if any incentive is going to be offered it must be factually explained in the remarks."
Jackie Hineline CRIS Rules & Regulations Administrator CRIS Regional MLS PO Box 2999 Akron, Ohio 44309 (ph) 330-376-0015 ext.0 (fx) 1-800-650-1902 jackie.hineline@crismls.com
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