Can I use MLS sale price data in my advertising?
08/12/2014 | Author: Editorial Staff
I’m sending a farming letter to a neighborhood where I’ve sold a home. Can I include the MLS sale price information of properties in the neighborhood in my letter?
The answer will depend on your MLS Rules, specifically Section 13 of the Model MLS Rules, which is a mandatory rule.
Your MLS can adopt either of two options in Section 13. One option allows an MLS participant to use sale price information from the MLS in advertising. The second option has limitations, and does not allow an MLS participant the right to include information about specific properties listed or sold by other participants.
Both options require the advertisement to include the time period for the information and where it was obtained from using the following format:
Based on information from the (local) association of REALTORS®/from the (local) MLS for the period (date) through (date).
Be sure to check with your local MLS to find out what your MLS Rules entail. Texas is a non-disclosure state, but that only means that sale price isn't public record. Your MLS dictates how sale-price data is used.
Get more answers to your legal questions in the Legal FAQs section of TexasRealEstate.com.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.