Florida MLS requires agents to disclose REO status

New data field not available to public

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

A regional multiple listing service in southeast Florida is now requiring that member brokers and agents state whether or not properties they represent are bank-owned when entering them into the MLS.

Officials with Palm Beach Gardens, Fla.-based Regional Multiple Listing Service Inc. (RMLS) say the new "REO" MLS data field — which is mandatory and searchable — was already in the works when a local newspaper reported on Sunday that some banks were telling agents not to disclose their ownership.