Rules & Regulations

Why can’t I enter my co-op in the co-op compensation field on a commercial listing?
The co-op compensation field is locked and auto-populated when “Net” is selected as the payout. You can enter your co-op compensation in the Broker Private ...
Fri, 5 Mar, 2021 at 10:39 AM
Can supplemental photos be removed from an off-market listing at the request of the seller?
While secondary photos may not be removed from the MLS, a Listing Broker may choose to have an off-market listing’s secondary photos (but not primary photos...
Sat, 9 May, 2020 at 11:23 AM
How do I report a violation of a for sale sign at a property that isn’t listed in the Standard or Private Listing Network?
You can email a photo that includes the sign, the agent’s name, and the property’s street address to rules.regs@mredllc.com. Your information will be kept a...
Wed, 22 Jan, 2020 at 2:44 PM
What's the difference between a walkout basement and an exterior access?
Walkout basements provide an exit at grade level with no steps up. Exterior access means there are steps to walk up to get to grade level.
Wed, 22 Jan, 2020 at 2:43 PM
Can I list a multi-property package in connectMLS?
No. Packages of listings that are not available for individual purchase, such as investor portfolios, may not be entered into connectMLS. This is becaus...
Wed, 19 Jun, 2019 at 4:12 PM
Can I cancel and re-list my property?
MRED’s rules allow you to cancel and re-list a listing if you have a new or modified listing agreement. However, you should also check with your managing br...
Mon, 3 Jun, 2019 at 4:52 PM
Can I list a room as something it could be with modifications?
No; rooms must be categorized as what they currently are. For example, you may not list a loft as a bedroom, even if the seller is willing to put up a wall...
Mon, 3 Jun, 2019 at 4:48 PM
I have 48 hours from the executed contract to change my listing to contingent, so when is a contract considered executed?
A real estate sales contract is considered executed once the sales contract and all addendums have been signed and dated. The date the signatures are made i...
Mon, 3 Jun, 2019 at 4:47 PM
Am I required to disclose that a property is Real Estate Owned (REO)/Bank-owned/Pre-foreclosure when listing it?
No; MRED does not require this disclosure when marketing the listing. This is a marketing decision between the listing broker and the bank. However, the ...
Mon, 3 Jun, 2019 at 4:45 PM
Can I remove interior photos from my listings?
Interior photos are important for comp and appraisal purposes. Photos may not be removed from connectMLS, except to reflect the season, showcase property im...
Mon, 3 Jun, 2019 at 4:34 PM