BIC TIP #1090 — MLS Is Your Friend
Protect Your Clients by Checking All Statuses and Remarks
The Multiple Listing Service is not simply a database. It is one of the most important compliance, advisory, and due-diligence tools available to real estate professionals. Yet many brokers treat the MLS as a simple property search engine, rather than a comprehensive source of history, context, and risk-mitigation information.
As a Broker-in-Charge and as an agent, it is imperative to use the MLS with intention, accuracy, and thoroughness. When representing buyers or sellers, your duty goes beyond pulling active listings. You must fully review the property’s MLS history, status changes, remarks, attachments, and disclosures to ensure you are providing competent, informed guidance.
The MLS protects you, protects your client, and protects the integrity of the transaction.
Why MLS Matters More Than Ever
A modern MLS record contains:
- Complete listing history
- Prior withdrawn or expired listings
- Cancelled listing notes
- Price adjustments and timeline
- Private agent remarks
- Uploaded disclosures and reports
- HOA or restrictive covenant information
- Seller instruction notes
- Days-on-market integrity data
Ignoring any of these components can result in missed information, consumer harm, or avoidable complaints.
Key MLS Practices for Listing Agents
Listing agents should:
- Confirm accuracy of all fields before publishing
- Review tax records and deed history for accuracy
- Verify HOA information, zoning, and utility sources
- Upload required disclosures and supporting documentation
- Review prior MLS entries to avoid conflicting details
- Search neighborhood MLS history to correctly position listing strategy
- Ensure remarks comply with fair housing and advertising rules
Your listing accuracy reflects on your professionalism and your firm’s reputation.
