BrokerageIndustry News

Real estate agents face fines for not sharing listings data

Hot market led some brokers to bypass MLS rules

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The Coastal Carolinas Association of Realtors is pursuing fines against members of its multiple listing service that fail to list property data for other members to view. Charlie Brindel, executive officer at the Coastal Carolinas association, said the association began enforcing its MLS policy about a month ago, though it has been on the books for a long time. There are about 3,000 members in the association's MLS, which covers an area that includes Myrtle Beach and Pawleys Island, among other communities. The policy requires agents and brokers to enter information into the MLS system within 72 hours of receiving a contract to list a property for sale. "The market is booming and we're having to enforce the deadline. It's always been a policy," Brindel said. The MLS is intended to allow sharing of property information among its members, so that members have access to property information entered by other members. This MLS property information often plays a key role in helping agents ...