Agent requires representation agreement before entering property listing in MLS

Q:

I’ve heard that an agent can be fined $1,000 for entering a property listing for which the agent does not have a representation agreement. Is this true?

A:

Yes. The rules of the Houston MLS state: “Before a listing can be entered in MLS, the listing Participant must have a listing agreement signed by the seller giving the listing Participant authorization to submit the listing to MLS. It is inappropriate to enter a FSBO listing where the listing Participant has not entered into an agency agreement with the seller.

It is also against MLS rules to enter a listing that has been sold outside the MLS where the listing Participant did not have a signed listing agreement with the seller prior to closing.”

Q:

I called the Harris County Clerk’s office and they said I would have to write a new deed to transfer ownership of a condo of which my aunt owned two-thirds when she died. I owned the other third. There isn’t an administrator for her small estate. Could I be the grantor as one of the heirs and part owner? A: Yes, indeed. You would be a grantor as to your interest. Q:Q My real estate agent got fined by the MLS for entering financing details about my property. Why? How else would I get the financing details out to buyers? A: Your agent was most probably fined for placing information about financing in the “Physical Property Description — Public” field, instead of the “Agent Remarks — Private,” which is where financing information should have been listed. Buyers who are seeking special financing situations and who have communicated them to agents who represent them will be exposed to those details. Also, your agent most probably did not correct the listing in the proper amount of time given by the MLS and so was fined (or if your agent was the broker, the broker would have been fined).

Q:Q Why does the Houston MLS have such a long time to require agents to either enter their listings or reply to inquiries about their listings? I have submitted really good offers on three properties at different times and in each offer the listing agent responded that it had been sold already. Isn’t there some way that the HAR members can get up to speed with the consumers?

A: Good question, however, it is not one that we can answer. You should send your question to the director of MLS at www.har.com. We can state that in our opinion, there is more than enough time for listing firms to respond to offers, but there is no requirement that they reply as they take their orders from the property owners.