Fines down 46% Since April 2007

Thursday 13 September 2007

When Jack Vahey took the reigns as MFRMLS President in April 2007, he set an ambitions goal of improving the accuracy of the data in the MLS and reducing fines by 85%. We are happy to report that we are well on the way. In July, the number of fines constituting the top 5 listing violations totaled just slightly over half the number for April: a huge decrease. Since the beginning of our fiscal year in November 2006, we've seen a drop of 67%. As the trend continues, it seems we have Jack's goal of an 85% reduction in our sights.

Why do we fine?

Fines are a necessary evil. One of our primary missions is to make sure the data in your MLS is as accurate as possible. Fines have proven very effective in enforcing the Rules and Regulations, but we would prefer not to fine our subscribers at all.

Education is key

If each subscriber has a thorough understanding of the MFRMLS Rules and Regulations, the number of listing mistakes will decline, as will fines, and the accuracy of the data will increase. Our Listing Maintenance class has proven a huge success, drastically reducing the number of first-time offenders. Our Rules and Regulations are now searchable from www.mfrmls.com making it easier than ever for you to get answers to important listing questions, and of course, we've featured the top listing violations each month in this e-zine, giving you tips on how to avoid common fines.

Software upgrades

We have aggressively implemented software options within MLXchange to help reduce the possibility of entering inaccurate data. The Tax Auto Pop feature not only provides a properly formatted Tax ID, but it automatically completes nearly a third of the required fields with information from the county records. The compensation field has a pop-up reminder illustrating the proper formatting, and new upgrades prevent you from being able to enter most types of unacceptable formats. Regarding photos, our policy of submitting an "Association Loaded" photograph for photo violations has eliminated the occurrence of multiple fines on individual listing. Later this month, an upgrade to listing maintenance will introduce a information icon to the most important fields, which means you'll have access to important listing rules at your finger tips (we'll give you more information about this new feature in our next e-zine).

Thanks to you!

Additional software upgrades have made it easier for us to identify listings in violation, allowing us to catch more than ever before. The fact that, despite the improved technology, fines are still on the decline is testimony that you have made an effort to make sure your listings are right the first time. Keep up the good work. You’re the key to helping us reach Jack's goal of an 85% reduction in fines.