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Why The “Lincoln” Factual Flaw Matters

You may have heard by now that Connecticut Congressman Joe Courtney is sounding an alarm about an historical inaccuracy in the Oscar nominated film “Lincoln.” In a letter the Representative sent to “Lincoln” director Stephen Spielberg, Courtney argues that the film portrays Connecticut as being on the wrong side of history during the slavery argument when in fact the Congressional record shows the opposite. From his letter: “How could congressmen from Connecticut — a state that supported President Lincoln and lost thousands of her sons fighting against slavery on the Union side of the Civil War — have been on the wrong side of history?” You could argue that the film used artistic license, which could be a legitimate defense, Continue Reading

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Compliance Blog: Status Showdown – Active HB vs. Show vs. Deposit

Licensing regulations require Connecticut real estate licensees to tell subsequent offerors if an offer has already been accepted on a listed property. A contract and or a contract with a “Hubbard” clause are accepted offers. A licensee cannot disobey the licensing regulations by not disclosing accepted offers nor can a seller require a licensee to do so. The MLS has 3 statuses that disclose this information to other members of the service and their clients. ACTIVE HB Status means that the listing is active in the MLS with an accepted Hubbard clause. SHOW status means unresolved contingencies continue to show and market. Listings on SHOW status will still appear on the internet as marketable properties. DEPOSIT status means Read more Continue Reading

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Compliance Blog: Inventory Watch

Far too often the MLS gets calls from agents that say “my listing expired on SHOW status and has now Closed how do I correct it so that it displays CLOSED on the MLS?” First, and most importantly, the system is set up to notify you by email that the listing(s) will be expiring in 14 days. If you are not getting these e-mails take the following steps: 1.) Check your Spam and Junk Mail boxes 2.) Check your personal settings to make sure you have the correct email in there 3.) Check with CTMLS to make sure we have a correct valid email in your member record Secondly, this can also be avoided by watching your Inventory Watch on Continue Reading

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Compliance Blog: Verify Your Listing Data

At CTMLS we are pleased to provide you with a number of tools that streamline the information you have available to you about a particular property. Take for instance Realist 2 which puts take records data right at your fingertips. It makes it easy to skip over the most critical part of your job and that is doing your due diligence. While some of these tools can make practicing CT real estate a whole lot easier, they are no substitute for following through with the town hall to verify the information provided within. Also, it’s worth noting that it’s not just important to verify the information found within the tools provided by the MLS, but also to verify the information Continue Reading

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Compliance Blog: Hubbard Y/N

Over the past few weeks our compliance department has been hard at work creating new, easier to follow definitions of all the listing entry fields that are found in the MLS. Some of these were to redefine items that may have changed in our Rules & Regulations, but most were to make clearer the definition of each field. One of those fields that has been updated is the Hubbard Y/N field. We get a lot of questions about this particular field and how to properly use it. The new definition is below. If, for some reason, you forget the definition that is listed below, you can simply click on the question mark icon next to the field in either MLXchange Continue Reading

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Compliance Blog: Commission Continued

In recent months we’ve been discussing Commission and how it should be offered in the MLS. Today we’re taking a look at commission and how to remain within the CTMLS Rules and Regulations when discussing it in the MLS. We are seeing the statement “if purchaser is a licensed Realtor, no commission will be paid” or similar statement(s) appearing in many listings lately. This statement is in violation of CTMLS Rules and Regulations. CTMLS Basic Agreement and NAR MLS Policy state that entitlement to the cooperating broker commission is determined by the identity of the buyer agent who is the procuring cause of the successful transaction. There are no further qualifications or comments that can change these criteria. If clients Continue Reading

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Compliance Blog: Withholding Addresses

CTMLS requires that all mandatory listings have a valid address. “0 Confidential” is not a valid address. Mandatory Listings Include: Single Family Residential Condo 1-4 Family Dwellings Co-op Mobile Homes Lots Vacant Land New Construction listings located within the state of CT on an exclusive right and exclusive agency agreement If the seller does not wish to have their address display on the internet, they can certainly answer N to Display Property Address on the listing input screen and in the Agent to Agent Remarks field put “no drive by please”. By answering N to Display Property Address the address will display as WITHHELD on the Internet. The only time “0 Confidential” Read more […]

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