Failure to identify listing as a “short sale”.

This Violation Receives an Automatic $25 Fine-no courtesy notice.

If not corrected, the progressive fines commence.

$25 $50 if fail to correct within the time specified $100 if fail to correct within the time specified of $50 fine $100 and loss of MLS privileges until corrected

• Related Articles

• Section 5.0.1 Short Sales:

  A “Short Sale” is a sale where: the Purchase Price is or may be insufficient to enable Seller to pay the costs of sale, which include but are not limited to the Seller’s closing costs and payment in full of all loans or debts secured by deeds of ...

• Section 1.1.4 Listing Entered As Sale Only

  The sale of real property not listed in the NCRMLS with buyer representation may be entered as a SALE ONLY.  Stipulation of Sale MUST be “Entered as Sale Only”.  Sale Only listings are subject to all data compliance rules and subject to fines as ...

• Failure to Enter Listing Timely

  Enter a listing within 72 hours (excepting weekends, holidays and postal holidays) of seller’s written authorization unless the owner is absentee in which case entry must occur within 72 hours (excepting weekends, holidays and postal holidays) from ...

• Section 4.1 "For Sale" Signs:

  Only the for sale sign of the listing broker may be placed on a property.(M)

• Section 2.8 Reporting Cancellation of Pending Sale:

  The listing broker shall immediately to the multiple listing service of the cancellation of any Pending sale and the listing shall be reinstated immediately. (M)