PROView - February 2009 - (Page 6) Sellers may also request that an automated property valuation is not displayed in connection with the listing on a VOW. Another rule applies to third-party comments on a listing such as blogs. If a seller doesn’t want their property listed on the Internet but instead only marketed at the website of the listing broker, the listing can be accepted by the broker. However, it cannot be included in the MLS. a relationship with the operator of the VOW exists. In order to obtain access to a virtual office website, consumers must register with their name and an email address that must be confirmed. They must accept explicit terms of use and specifically acknowledge that a relationship with the operator of the virtual office website exists by meeting all disclosure requirements under state law needed to formally create such a relationship. Bricks & Mortar Office = Virtual Office Website Rules Apply Equally Bricks and Mortar Office versus Online = Parity Principle Both bricks and mortar brokerages and virtual office websites must follow the parity principle. That means if a bricks and mortar brokerage shows certain data, an online office must be able to do the same. In other words, rules apply equally whether you’re a traditional bricks and mortar office or a virtual office website operator. An example is the treatment of sold information. Previously, such information was unavailable for display at virtual office websites while traditional offices were at liberty to provide their customer such data. That’s now changed. If sold information, which is defined as “listing information relating to properties that have sold,” is given out in a physical office then that same data must be available to a virtual office website as well. Example of Confidential Fields No type of brokerage is permitted to provide confidential information to customers and clients. Confidential information is defined as seller’s name and contact information, commission fields, showing instructions, security information and Realtor® remarks. The Suncoast MLS conducted a survey of members to learn which fields of information are typically provided to consumers and clients, and the answer was just about all of it. Following the parity principle, bricks and mortar offices and virtual offices both may provide information on all listing statuses to bona fide customers and clients. The Anatomy of a VOW Relationship Perhaps the most important aspect of a virtual office website is the actual acceptance by the consumer that 6 PINELLAS REALTOR® ORGANIZATION Once registered and confirmed, consumers gain access to data just like a physical office would be able to provide. It is noteworthy that a financial obligation cannot be imposed simply by registering on a virtual office website. Any financial obligations or agreements to represent must be separate from terms of use, must be prominently labeled, and may not be accepted solely by a mouse click. A virtual office website is required to prominently display all available ways to communicate with the website operator including phone, email or any other mode of communication. The operator of the website must also be willing and able to respond knowledgeably to consumer inquiries about properties within the market served by the virtual office website operator. Website operators must also offer and accept cooperative compensation. Virtual office website operators will also have to provide a method for the MLS and other brokers to monitor their sites. Additionally, VOW operators must maintain logs of consumers who were granted access. When consumers register on virtual office websites they must express their consent not to copy, redistribute or retransmit any of the data or information provided except in connection with purchase or sale of an individual property. Furthermore, they verify that the data they access is intended only for their personal, non-commercial use. Finally, when they complete the registration process they are asked to acknowledge the MLS ownership of and validity of MLS copyright in the MLS database. According to the new policy, operators of virtual office websites have an obligation to make sure listing data is February 2009
Table of Contents Feed for the Digital Edition of PROView - February 2009 PROView - February 2009 Contents Chairman’s Notes Feature Story PROActive Marketplace Analysis Home Sales Report MLS Update Mind Your Manners Calendar of Events & Programs Brokerage Design Marketing PROView - February 2009 PROView - February 2009 - PROView - February 2009 (Page Cover1) PROView - February 2009 - PROView - February 2009 (Page Cover2) PROView - February 2009 - Contents (Page 1) PROView - February 2009 - Chairman’s Notes (Page 2) PROView - February 2009 - Chairman’s Notes (Page 3) PROView - February 2009 - Feature Story (Page 4) PROView - February 2009 - Feature Story (Page 5) PROView - February 2009 - Feature Story (Page 6) PROView - February 2009 - Feature Story (Page 7) PROView - February 2009 - PROActive (Page 8) PROView - February 2009 - PROActive (Page 9) PROView - February 2009 - PROActive (Page 10) PROView - February 2009 - PROActive (Page 11) PROView - February 2009 - Marketplace Analysis (Page 12) PROView - February 2009 - Home Sales Report (Page 13) PROView - February 2009 - MLS Update (Page 14) PROView - February 2009 - Mind Your Manners (Page 15) PROView - February 2009 - Mind Your Manners (Page 16) PROView - February 2009 - Calendar of Events & Programs (Page 17) PROView - February 2009 - Brokerage Design (Page 18) PROView - February 2009 - Brokerage Design (Page 19) PROView - February 2009 - Marketing (Page 20) PROView - February 2009 - Marketing (Page 21) PROView - February 2009 - Marketing (Page Cover3) PROView - February 2009 - Marketing (Page Cover4)
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