Please be mindful of reporting conditional or firm sales within the required time frame.
Rule R-610 in the Board's MLS® Rules and Regulations state:
The sale, lease or sub-lease of a residential or commercial MLS® Listing shall be reported by the Listing Brokerage through the MLS® System, whether conditional or firm, to OMDREB within two (2) OMDREB business days following acceptance of an Offer.
Reporting by the Listing Brokerage of a commercial sale/lease price shall contain the unit of measurement in which the original listing was posted. All changes in the status of a previously reported conditional sale shall be reported to OMDREB within two (2) OMDREB business days of the change.
(a) The residential/commercial sale price shall be reported to OMDREB within two (2) OMDREB business days of either:
(i) the transaction being firm; or
(ii) removal of all condition(s)
Failure to report within two (2) OMDREB business days will result in OMDREB processing the transaction and a charge being levied against the Brokerage as described in the attached “Schedule of MLS® Fees.”
Thank you for your attention to this matter.
