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by CareyBot

A new rule allows participants in a Northern California multiple listing service to cloak the actual sales price of homes at the request of a home buyer or seller -- and MLS members must pay a price for this information to be concealed from other members. RE InfoLink, a Silicon Valley-area MLS with about 21,000 members, stated in an Aug. 1 notice that its board of directors and reviewers at the National Association of Realtors approved a new policy that enables home buyers and sellers to withhold the selling price of a property as a condition of a transaction. The policy provides, "The listing agent will close the listing as sold using last list price as the sales price," and the fee to conceal the selling price ranges from $500 for the first instance to $5,000 for the fifth and subsequent...