Annual Forms Change: Listing Agreements to be Updated January 2020 (Updated January 8)

Annual Forms Change: Listing Agreements to be Updated January 2020 (Updated January 8)

RMLS™ is preparing to release phase 2 of its annual forms change on RMLSweb. In late January subscribers will notice revisions to the Oregon and Washington listing contracts.

Forms changes happen regularly on RMLSweb. Each change has been approved by the RMLS™ Forms Committee based on the feedback provided through hundreds of subscriber comments. Recommendations were then reviewed and approved by the RMLS™ Board of Directors.

Implementation of these changes is quite a task, largely on the part of the RMLSweb development team. The first phase of this years annual forms change was released in an overnight outage that took place on the night of December 9th. Phase 1 of the forms change project included a new supplement (New Construction), a redesign of the input sheets and supplement forms, and other changes to enhance the information available about property listed in the MLS.

Here is an overview of the changes that will be made to the Oregon and Washington listing contracts later in January 2020:

Layout Change [Oregon and Washington]

To help with readability of the forms, blank rows have been added between paragraphs. Row numbers will not appear on blank rows. In addition, when a paragraph includes “…a)….b)….c)…”, each of these will be placed onto it’s own indented row.

Brokerage Fee [Oregon and Washington]
UPDATED (January 8, 2020): Redline below was updated to include “…of the selling price or option exercise price of the Property…”

The following sentence was added to the “Brokerage Fee” section:
From the brokerage fee an amount equal to _____% of the selling price or option exercise price of the Property or $ _____ will be offered to Cooperating Firm (BAC).

Right to Compensation [Oregon and Washington]

In the last paragraph of the “Right to Compensation” section, the first sentence is now bolded.

Seller’s Property Disclosure Statement [Oregon]

The first sentence was updated to better denote the Oregon Revised Statute: “As required by Oregon law, SELLER will complete the Seller’s Property Disclosure Statement accurately based upon SELLER’s personal knowledge and information as required under ORS 105.464.

Signature Section [Oregon]

In the signature section of the Oregon listing agreement, the dedicated fields for Participant Broker signature have been removed. In it’s place, fields were added to denote the address of the Broker’s Firm.

General Housekeeping [Oregon and Washington]

In both the Oregon and Washington contracts, some general housekeeping edits were made. One example is changing “…FIRM’S…” to “…FIRM’s…” and “…SELLER’S…” to “…SELLER’s…” to match formatting through out both contracts.

Looking for More Detail?

Dig into this phase 2 forms change:

Annual Forms Change: Listing Agreements to be Updated January 2020 (Updated January 8)

Listing Updates for Clients: Ask Technical Terry

Ask Technical Terry Silhouette

Ask Technical Terry is a series RMLS™ aims to offer once a month. RMLS™ subscribers will drive the content—submit any question about RMLS™ to Technical Terry in the comments or by emailing communications@rmls.com. Don’t be shy—we won’t identify you by name.

Technical Terry:

I’m sure you’ve heard the stories about RMLS™ subscribers having to resort to using products from other brokerages to deliver new listings or changed listings to their clients in a timelier fashion. This seems contrary to the mission of RMLS™, is it not? Why do we not have tools available either within RMLSweb or within one of your approved third-party vendor integrations?

Frustrated in Fairview

Dear FF:

I understand your frustration and concern. I do have some good news for you in this area. Remine recently added some new functionality to an already great product that should solve the issue you mention above regarding delivery of new / changed listings to your customers in a timelier way. Here are some details on that new set of functionalities:

Saved Search

Stay up to date on property updates through the Saved Search feature! When you save a search, you’ll receive email notifications when new properties meet your search criteria, or when property characteristics change, like MLS status or listing price. You can also automatically update your client on the newest properties that meet your Save Search criteria.

How to get started with Saved Searches?

  1. Log into Remine!
  2. Set up your agent home page
  3. Create a saved search
  4. Manage your saved searches

Carts

The product feature formerly known as Track is now called “Carts.”

Carts enable agents to share specific properties or groups of properties with their clients and receive quick and easy feedback.

Previously, RMLS™ subscribers could maintain up to 100 properties with the Track feature, that number increases to 500 properties in Carts.

Consumer Portal Improvement

As a RMLS™ subscriber, you can create your own public-facing portal as a free lead capture system. To participate, you simply need to activate your Remine account and invite your contacts. The more invitations you send, the more visible you are to future clients.

You can invite unlimited contacts to your portal, to keep them tied to your business and the MLS.

Additional Enhancements from the recent Remine update:

  • New User Interface: A cleaner, more modern and intuitive user interface is now available, on both the desktop and mobile applications.
  • CMA 360: An improved CMA experience. Remine offers the only CMA in the industry that searches MLS and off-market comps.
  • Property Details Page: Format and layout have been improved
  • Tax Data: Tax data has been improved as well.

Technical Terry

RMLS™ by the Numbers 2018

Here we go again! RMLS™ celebrates another year working hard for thousands of subscribers across Oregon and Southwest Washington by presenting an annual collection of numbers. These numbers show just how much RMLS™ has supported real estate activity over the course of 2018. We hope you enjoyed journeying along with us.

Compare the numbers below with the same from prior years and see how we’ve grown!

RMLSweb
Number of times subscribers logged in to RMLSweb: 1,662,042
Photos uploaded to listings: 1,981,602
Number of new prospect profiles created: 71,914
All residential properties listed for sale: 78,378
All residential properties sold: 57,902
Median sold price of homes listed: $350,000
Total dollar volume of homes sold: $22,455,096,000
Reports viewed: 8,286,339

RMLS™ Subscribers
RMLS™ subscribers as of December 2018: 14,489
New RMLS™ subscribers (compared to December 2017): 516
Increase in subscribers, above: +3.69
Subscribers who attended training: 5,406
Number of calls to the RMLS™ Help Desk: 27,794
Number of Help Desk chats: 5,215
Number of incidents reported using the “Report Issue” button: 7,027
CE hours distributed by RMLS™ at no cost to subscribers: 1,565
Total attendance at RMLS™ training events: 5,747

RMLS.com
Total customer visits to RMLS.com: 2,120,150
Unique visits: 791,455
Total listing views: 1,145,379

Social Media
RMLS™ followers on Facebook (December 31st): 4,289
RMLS™ followers on Twitter (December 31st): 2,937

RMLS™ regularly compiles plenty of other numbers as well! In addition to publishing Market Action each month, we have statistical summaries available on RMLSweb with information dating back several years.

We love numbers here at RMLS™, and hope you find this data as fun and interesting as we do.

RMLS™ by the Numbers 2016

It’s that time again! RMLS™ has made it through another year working hard for thousands of subscribers across Oregon and Southwest Washington and we’d like to show just how much RMLS™ has supported real estate activity over the course of a single year. How do we do it? We compile a suite of numbers to quantify the work we do for our REALTOR® members.

Compare the numbers below with the same from the prior three years and see how we’ve grown!

RMLSweb
Number of times subscribers logged in to RMLSweb: 1,785,754
Photos uploaded to listings: 1,688,226
Property searches run: 572,205
Number of new prospect profiles created: 78,319
All residential properties listed for sale: 75,331
All residential properties sold: 59,203
Median sold price of homes listed: $300,000
Total dollar volume of homes sold: $20,243,723,000
Unique tax searches: 111,094
Reports viewed: 9,856,816
Broker tour searches run: 11,744
Open house searches run: 10,534
Statistical searches run: 24,247

RMLS™ Subscribers
RMLS™ subscribers as of December 2016: 13,345
New RMLS™ subscribers (compared to December 2015): 1,132
Increase in subscribers, above: +9.3
Subscribers who attended training: 3,538
Number of calls to the RMLS™ Help Desk: 25,850
Number of Help Desk chats: 4,508
Number of incidents reported using the “Report Issue” button: 6,668
CE hours distributed by RMLS™ at no cost to subscribers: 2,514
Total attendance at RMLS™ training events: 3,538

RMLS.com
Total customer visits to RMLS.com: 3,145,131
Unique visits: 1,141,705
Total listing views: 1,790,588

Social Media
RMLS™ followers on Facebook (December 31st): 3,715
RMLS™ followers on Twitter (December 31st): 2,837

RMLS™ regularly compiles plenty of other numbers as well! In addition to publishing Market Action each month, we have statistical summaries available on RMLSweb with information dating back several years. Since 2012 we’ve also been compiling statistics about residential distressed properties in RMLSweb.

We love numbers here at RMLS™, and hope you find this data as fun and interesting as we do.