Fines Down 83% From First Quarter Last Year

Friday 06 June 2008

Compliance Corner

Last year, when our Immediate Past President Jack Vahey took the reigns of MFRMLS, he set an aggressive agenda for reducing Violation Fines. To meet his goals we initiated proactive communication efforts to help you understand what the most common violations are and how to avoid them. We also implemented software updates in MLXchange that help keep you from making mistakes. Our Listing Maintenance class ensures that each new member of MFRMLS knows how to enter listings correctly, and many veteran members have taken the class for the opportunity to reinforce their knowledge.

We also implemented Electronic Warning Letters, granting subscribers 24 hours to correct listing violations before drawing a fine. We have found that the vast majority of violations are corrected very quickly. As a result, our monthly fine report has been reduced to a handful, down 83% from the first quarter of 2007.

In fact, fines are down so significantly that for the first time we are presenting you with the Top Three Violations for last month rather than the Top Five. That means the data in your MLS is more accurate than ever.