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    Bright Rules and Status Comparison

    Bright MLS is the result of 9 organizations coming together to create one MLS and simplify the MLS landscape. One of the important tasks these organizations tackled was creating a new set of rules for Bright MLS that considered the new expanded footprint, as well as local needs. To do this, representatives of all 9 MLSs collaborated to determine the rules, statuses and property types. While most of the rules will be familiar since they are consistent with existing TREND rules, there are few details that we want to highlight for you. Read on for 8 of them.


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    8 Bright MLS Rules to Know

    1. Every listing must include at least one listing photo unless the listing agent certifies that the Seller has instructed them not to do so. This is across all property types, but must include a curbside photo (residential – non-new construction), an architectural rendering (new construction) or a plat/survey (unimproved non-residential).
    2. All changes to listings, including initial entry, status and price changes, must be completed within 3 business days of the start of the listing term (which may or may not coincide with the date the listing agreement was signed by all parties) or effective date of the change.
    3. If requested, you must provide copies of listing agreements and all related addenda to Bright within 3 business days.
    4. Bright reserves the right to edit listing content for clarity and compliance with rules and policies.
    5. A listing that is not marketed in Bright prior to the execution of an Agreement of Sale may be added to the MLS only after it has sold, if the property wasn’t listed, was listed with a non-Bright participant, or was subject to an open listing agreement.
    6. Cooperative Compensation may not be based upon Net Sales Price. Cooperative Compensation must be offered as a percentage of the Gross Sales Price, as a flat dollar amount, or combination of the two. For new construction only, cooperative compensation may be offered as a percentage of the base sales price, which is defined as the price before any buyer upgrades.
    7. Licensed Non-REALTOR® participants are required to participate in the REALTOR® complaint and arbitration process, and may have their MLS access suspended if they refuse to pay an award as the non-prevailing party in an arbitration decision.
    8. The Property Marketing Period (PMP), which represents the sum of Days on Market for all listings associated with the same property, even if it has been relisted multiple times by any office, will be known as Cumulative Days on Market (CDOM). For Bright, CDOM will reset once a listing Closes OR on the 61st day after it has been in the Expired or Cancelled status.
    The Bright Rules take effect when you power up on Bright MLS.


    Bright MLS Property Types

    • Residential
    • Commercial Sale
    • Multi-family
    • Residential Lease
    • Commercial Lease
    • Business Opportunity
    • Farm
    • Land

    The property types should be familiar to you as well, though some may be no longer be grouped together. A few things to note:

    Commercial Sale/Lease properties include buildings that are zoned for commercial use and/or residential dwellings of 5+ units or as specified by regulatory law.

    Business Opportunity is a business for sale that does not include the real property, but does include a leasehold interest in real property, which is transferred in conjunction with the business.


    Status Comparisons


    Bright status Prior TREND status
    Active Active
    Active under contract Active-A, E, F, O
    Canceled Withdrawn
    Closed Sold
    Coming Soon Active No Showings
    Expired Expired
    Temporarily Off Market Temporarily Off Market
    Pending Pending
    Withdrawn Temporarily Off Market

    Please note: If there are any differences between Bright’s Rules & Regulations and state regulations, the state regulations supersede Bright’s Rules & Regulations.





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    8 Comments
    1 - 8 of 8 Comments
    1
    Colleen Acchione
    11/7/2018 10:57 AM

    As asked before, is there a PENDED status in Bright that prevents under contract listings from being shown?

    Brenda Miller
    11/6/2018 10:55 AM

    does ACT-O- automatically switch to PEND after 14 days or so??

    Why hasn't anyone answered the above questions yet?

    Leigh M. Nunno
    10/31/2018 12:49 PM

    Will the "Coming Soon" status send the listing to all of the real estate websites and have it marked as "Coming Soon" on those sites?

    Thank you!
    Leigh

    Mary Lou Erk
    10/30/2018 5:17 AM

    Does "Active Under Contract" still retain its active status in realtor.com, zillow, etc. while inspections are being done?

    Andrew Wetzel
    10/29/2018 12:26 PM

    Emily, not sure you answered my question #4 (There are two "T/O" statuses shown in the TREND column with different Bright statuses. One says "withdrawn" so is the seller is still bound by a "listing contract" with the seller as with the TREND T/O status?).

    Thank you,

    Andrew

    TREND MLS
    10/29/2018 8:35 AM

    Andrew,

    Bright’s Rules and Regulation require that at least one photo must be submitted at the time of listing entry (unless the Seller expressly directs otherwise), and at least one photo must be a curbside view of the property that shows the property upon arrival. The curbside view doesn’t have to be the first photo. For new construction, an architectural rendering of the exterior elevation or floorplan is acceptable. For unimproved properties, a plat or survey of the property is acceptable.

    When the status of a listing is “Active Under Contract,” the Seller must make it available for showings and accept back-up offers.

    Coming Soon listings are limited to a maximum 21 days in that status, after which they automatically convert to Active status and cannot be re-set to Coming Soon. During the period when a listing is in the Coming Soon status, Days on Market does not accumulate. So, when the listing status is changed from Coming Soon to Active, the DOM count starts at ‘1.’

    Bright’s Withdrawn status indicates that the Seller is still bound by the listing contract but has requested that the Listing Broker/Agent no longer market the property. Withdrawn listings expire on the listing agreement expiration date.

    I hope that helps answer your questions.

    Emily Schaffer
    Bright Communications

    Randy Myer
    10/27/2018 10:18 AM

    I understand needing a front photo but what happens with the rare property where you just cant't photograph the front-ie totally covered by trees, only able to take from water.

    Andrew Wetzel
    10/26/2018 2:30 PM

    Questions. (1) I was told that the front photo MUST be in the first position. This makes perfect sense but is that true? (2) What does an all-inclusive "active under contract" status mean as far as availability to show and/ or make an offer? (3) How does "Coming Soon" impact the CDOM (compared to TREND's A/N status and is DOM going away? (4) There are two "T/O" statuses shown in the TREND column with different Bright statuses. One says "withdrawn" so is the seller is still bound by a "listing contract" with the seller as with the TREND T/O status?

    Please explain.

    Thank you,

    Andrew Wetzel

    1 - 8 of 8 Comments
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