RLS Upcoming Changes including Participant’s Only Listing Available for Submission Soon!

Starting June 5th, there will be two new changes to the RLS:

1. Owner Opt-Out listing submitted to RLS

2. Participant’s viewing only listings

Please see below for details of the changes:

Owner Opt-Out Listings in the RLS

What are the changes?

• All Owner Opt-Out Listings will be required to be submitted to the RLS with the Owner Opt-Out Authorization Form.

  • Per UCBA Article I Section 5.A, “The Owner Opt-Out Form must be transmitted to the RLS Staff within forty-eight (48) hours of execution of the Exclusive Listing pertaining to the Exclusive Property, and there can be no Public Dissemination of the Exclusive Property at any time.”

  • RLS Participants will no longer be required to submit the Owner Opt-Out Authorization to RLSSupport@REBNY.com but will be submitted with the listing into the RLS.

    • A template of the Owner Opt-Out Authorization Form can be found on page 31 in the UCBA.

• Once the listing is submitted with the permission as Owner Opt-Out, the listing will NOT be accessible to anyone except for the RLS Staff for compliance.

• Listings are required to go through the same process as public listings regarding data requirements and updates.

• As soon as the listing is set to Closed, the listing will be available for any data consumers

Why are you requiring Owner Opt-Out listings into the RLS?

Currently the owner opt out listing data are not captured in the RLS. By requiring owner opt out listings in the RLS, it creates efficiencies in the process of how the Owner Opt-Out is collected. Secondly once the listing is set to closed, it allows RLS Participant to utilize the data for reporting purposes.

What if I do not want the Owner Opt-Out listing publicly available once it is closed?

All residential property sales are recorded and publicly available on ACRIS, whether the property was transacted over a multiple listing service or through private means. By entering this information into the RLS, Participants gain more insight into market trends and could be better positioned to price and promote their exclusives.

However, you will still have the option to not include it on IDX or Portals by selecting “No” to the following attributes.

IDX Entire Listing Display YN

Syndicate YN

Please note there are no options to exclude from VOW.

If I submitted an Owner Opt-Out Authorization form already to the RLS Support prior to June 5th, would I need to enter the Owner Opt Out listing into the RLS database?

No, if the Owner Opt-Out Authorization form was received by RLS Support prior to June 5th, the listing agent will not be required to submit it as a listing.

Owner Opt-Out Authorization form emailed directly to the RLS Support AFTER June 5th will not be accepted and will be required to submit the Owner Opt-Out Authorization form with the listing into the RLS database.

What if I do not submit the Owner Opt-Out Listing into the RLS?

Per UCBA Article I Section 5.A, “The Owner Opt-Out Form must be transmitted to the RLS Staff within forty-eight (48) hours of execution of the Exclusive Listing pertaining to the Exclusive Property, and there can be no Public Dissemination of the Exclusive Property at any time.”

If the listing is not submitted with the Owner Opt Out Authorization form within the timeframe, it will be deemed incurable violation. Any incurable violation will incur $250 fine for their first offense and $500 fine for any subsequent offense within the calendar year.

Participant’s Only Listing Data (POLD)

What is POLD?

Any listing where the owner elects to not make listing available online through IDX, VOW or social media platforms but wishes to cobroke by entering the listing on the RLS database for Authorized Participant view only.

This means this will not be included in VOW, IDX, or be publicly disseminated or shared.

Why was this listing permission type created?

Participant Only Listing Data is offered in other listing services across the country. Participants were interested in bringing the practice to the RLS.

Does this mean FSBOs and pocket listings are allowed in the RLS via POLD?

No, FSBOs are not allowed in the RLS and pocket listings are strictly prohibited by the UCBA.

If I want to market the listing in the POLD, do I need my seller to sign anything?

No. You should have a conversation with your seller about the differences between placing the listing as Participant’s Only vs Standard listing in the RLS.

When should I move the listings as Participant’s Only to Standard Listing?

When and if directed by the seller per your agreement OR when a transaction closes the listing will automatically be changed to standard listing thereby being publicly available.

What will be the required fields to be entered for Participant’s Only Listing?

All data requirements will be the same as the Standard Listing. The difference will be the permission settings.

Can I share the listing through any auto emails or mass marketing?

No, similar to Owner Opt-Out, the listing cannot be publicly disseminated at any time. Due to the sensitivity of these types of listings, listings labeled as Participant’s Only cannot be included any auto communication or mass marketing. Only one-to-one personalized communication are permitted.

This is the first phase. As with all products, based on user feedback, will iterate, and evolve over time. Your opinion is invaluable in shaping how Participant Only Listing should be utilized in the RLS.

Please let us know if you wish to make this available in auto email alerts to your clients by submitting a survey here: RLS Product & Service Improvement Survey. Based on the feedback and current utilization, permissions can be modified in future releases.

What is the difference between entering as a Participant’s Only Listing and Standard Listing?

All requirements remains the same as a standard RLS listings. The Participant’s Only Listing will go through the standard compliance process and requirements. The two main differences are the viewing permissions and the days on market.

How long can a listing remain in the POLD?

The listing will remain as Participant’s Only Listing until the listing is set to Closed. Once it is Closed, the listing will be part of the Standard Listing

Does market time accrue while it is in POLD?

No. Market time will not accrue when the permission is set to Participant’s Only. As soon as the permission is removed to Standard listing, the days on market can accrue.

How will RLS Participants be able to identify if it is a Participant’s Only Listing?

Each of your Listing Management Provider were provided with detail terms and requirements. While the feature may slightly differ depending on the platform you utilize, all Participant’s Only Listing should have a clear delineation and flag highlighting at the top of the listing page as well as search.

We want to continue to enhance the RLS data quality, if you would like to submit for change request, please submit it here RLSSupport@REBNY.com. The RLS team will review the submissions and have it reviewed by the Data Requirements Working Group.