‘Special Sale Provision’ Field begins August 25th

Short Sale photo

We are making a change to MLXchange that will affect every MFRMLS subscriber. This modification is aimed at meeting our current market conditions as they relate to short sales, bank owned and corporate owned properties. The MFRMLS Board of Directors, with feedback from multiple committees and individual members, has worked with MarketLinx to create a new mandatory field to better categorize these properties. The end result is intended to provide a more complete and accurate MLS database and simplify the search process for all users.

The new field, called "Special Sale Provision" will be launched on Tuesday, August 25, 2009.

1. The following mandatory pick-list values will be:

  • Short Sale
  • REO/Bank Owned
  • None of the Above

2. All listings (active and off-market) will be remapped from the existing selections in the "Realtor Info" field to the new "Special Provision" field as follows:

Realtor Info

Mapped

Special Sale Provision

Bank Owned

To

REO/Bank Owned

Short Sale

To

Short Sale

3. In conjunction with the addition of the Special Sale Provision field, the following pick-list values will be eliminated from the "Realtor Info" field:

  • Corporate Owned
  • Bank Owned
  • Short Sale

4. Additionally, a new pick list value will be added to the "Realtor Info" field to account for corporate-owned relocation properties:

  • Corporate Owned Relo

5. Listings with "Corporate Owned" selected in the Realtor Info field will NOT be remapped. After the changes take place on August 25th, listings must be manually updated (if applicable) to the correct selection in the Special Sale Provision field; or,  to the new Corporate Owned Relo pick list value in Realtor Info.  If you have active listings noted as "Corporate Owned" in Realtor Info, watch your email inbox for a courtesy reminder from MFRMLS.

                 
What can you do to make sure that your listings are complete and correct?  Remember to review your current listings on August 25th – use this quick check list of items to help:

  • For Short Sale listings: verify that your listing shows as “short sale” in the new Special Sale Provision field;  and,  be certain that “short sale” appears as the first two words in both Public and Realtor Only remarks;
  • For Bank Owned listings:  verify that your listing was properly converted to “REO/Bank Owned” in the new Special Sale Provisions field;
  • For Corporate Owned listings:  Update your listing in either Realtor Info (if a Corporate Owned Relo) or in the Special Sale Provision field.  If your listing is simply a property owned by a corporation and is not a Relo, REO, or Short Sale no change is needed.
  • For Saved Searches:  Don’t forget to update your saved searches so your prospect emails will be correct!

Please review these details carefully to help minimize any disruption in your business when the changes take place.  If you have questions, need clarification, or need assistance updating your listings and saved searches, please call our Help Desk Technicians at (407) 218-8607 or (800) 686-7451. They will gladly guide you through the process.

Thank you for your patience as we work to improve the MLXchange system and for your participation in My Florida Regional MLS.

Click here to view the short sale rules on our website>>

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