Your first question might be, “Just what exactly is a VOW or Virtual Office Website?” A short description is a password protected website that allows brokers to operate their business online. This business may include many service options, including MLS data search and printing options.

The history of offering Virtual Office Website (VOW) services to members is a saga that began more than five years ago. The National Association of REALTORS® and the Department of Justice were in discussions to ensure that a broker who wants to offer on-line brokerage services has the capability as it relates to MLS content. A settlement was reached in the late fall of 2008 and the deadline for all Associations, Boards and MLSs to offer VOW services was established on February 15, 2009.

Your next question might be, “How will this impact me as a member of MFRMLS?” Yesterday several new input requirements were added to listing maintenance in MLXchange. Those changes directly reflect the new options that seller’s must be offered when their listing is entered into the MarketLinx system.

“What about existing listings?” All existing listings in the system were automatically set to default as described below. After reviewing the new options, please be certain to contact your sellers to determine whether or not they want you to make changes to their existing listing.
Please continue to read this article to learn more about the new fields, how they work and how your existing listings were defaulted – and, we hope you’ll plan to attend one of the VOW Broker Webinars to learn more about operating a VOW.

The Seller has Options

As part of the settlement, sellers now have more choices when it comes to the display of their property on the Internet. They must have the ability to decide if they want their listing to be anywhere on the Internet. If so, they also have specific options relating to the address of their property and most specifically, two new options: whether or not they will allow for a property valuation to appear with their listing in a VOW; and whether or not they will allow comments/blogging to appear with their listing on a VOW.

What has Changed or Been Added to Listing Maintenance?

Here is a brief explanation of the new and added fields relating to the Internet export/display of listings:

Internet Y/N = This selection identifies whether or not the listing can be displayed on the Internet (not just VOW, but the entire internet, which includes Realtor.com, MyFloridaHomesMLS.com etc.).

Internet Display Seller Address = This selection identifies whether or not the seller’s address will be displayed on the Internet.

Realtor.com Y/N = This field identifies whether or not the seller will allow the listing to be displayed on Realtor.com.

VOW AVM Y/N = This field identifies whether or not the seller will allow for any type of property valuation to be done/displayed in the VOW.

VOW Display Comments Y/N = This field identifies whether or not the seller allow commentary/blogging, etc. on their property inside the VOW.

A look at the input screen:

System Defaults for Existing Listings

All active listings in the system prior to the changes on 2/10/09 have been defaulted as follows:

Internet=Y

Internet Display Seller Address=Y (unless previously noted as “no” for IDX)

IDX=whatever was entered in the field originally

Realtor.com =Y

VOW AVM =N

VOW Display Comments =N

System Defaults for New Listings

For new listings added to the system on or after 2/10/09, the field defaults have all been set to “yes”, allowing changes in accordance with the seller’s wishes.

Which Listing Types will be Included in a VOW Feed?

At this time, only residential properties (all types, including rentals) must be included in a VOW data feed. Remember to check your existing residential listings and compare the defaults with the seller(s) wishes.

Who Can Have a VOW and the Next Steps? Webinars Scheduled

Before answering who can have a VOW, we want to clarify that there is absolutely no requirement for a broker to operate a VOW. However, if a broker does decide to operate a VOW, there is a lengthy list of “Participant must” and “Participant shall” requirements to be aware of.

Another important point of clarification – the new VOW policies and options do not impact IDX in any way; IDX options and rules as they exist today have not changed!

For a full presentation on the “who, when and how”, all brokers are encouraged to join us for one of four webinars scheduled. What are the requirements to have a VOW? Can agents have a VOW? Is there a cost? How will it work? What are my obligations? All of these questions and more will be answered – sign up today! While not required, we hope you’ll agree that a webinar is a “must” for any broker who is considering operating a VOW. The registration link is below under Resources.

Resources

NAR-DOJ: Final Settlement Details

NAR-DOJ: Terms of the Agreement (PDF)

MFR's VOW Policy

MFR's New Listing Forms