MRED's Tuesday Tip Sheet
for October 30, 2012
 
Quick Tips to Help You to a Winning Week!
 
Hot Tip #1
 
Remember to mark the Special Compensation Field (SCI) for short sale listings - it's required!
 
This is to inform cooperating brokers that compensation could be lowered due to a short sale.  This is not just a courtesy issue; significant issues arise when compensation might have to be adjusted for a transaction to close. 
 
Hot Tip #2
 
When closing out your properties, please select
the appropriate code in the Short Sale/Foreclosed/Court Approved field.
 
This is to let other brokers know that this property was a distressed sale for comp purposes.  We all know how being a distressed sale can negatively impact the sale price of a property.  Let's make sure we're all aware that there are circumstances surrounding the sale price of your listing.
 
Hot Tip #3
 
Compliance Department Alerts stay in the Bulletins on your My MLS page in connectMLSTM for five days after you acknowledge them

This is so you don't forget about them (even after acknowledgement) and make the requested correction in a reasonable time before it drops off.  Even after you've made a correction, you need to give the system time to remove the Alert (up to five days).

  Any questions? You can always contact the MRED Help Desk at 630-955-2755 or help.desk@mredllc.com
 
DISCLAIMER: PLEASE ALWAYS CHECK WITH YOUR MANAGING BROKER TO ASCERTAIN IF YOUR OFFICE POLICY SUPERCEDES ANY GENERAL RULE COMMUNICATED ABOUT THE MLS SYSTEM OR OTHER MRED PRODUCTS/SERVICES

 

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