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 local 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, or substantially similar, 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.
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13 Comments on "Can MLS Price Data Be Used in Advertising?"
In my penny worth of opinion the “AS IS” defense is not good strategy because you might be dancing to the music of “TRELA”
Please explain your reference to the Texas Real Estate License Act (TRELA).
My client, like many property flippers did purchase a home in poor condition and accepted it “As Is” with all faults. So, when I describe a property as having been purchased in an “as is” condition, I am referring to what we would call a fixer upper.
Thank you
I agree with Scott…what’s your point?
Why is it that on Zillow agents are being allowed to upload sales price data when they claim the sale. Zillow asks for the data but I always input zero. Then it asks again. I input zero. But other agents are posting.
This needs to stop. Nobody is doing anything about it.
I wonder if those Agents that contribute closing info to other sites are asking their Clients for permission to give up their private information?
Can you show sales price to appraisal district for evaluation protest?
Thanks
and… on top of the legality of it, why would ANY agent post ANY data that could be used for FSBO’s and non-MLS brokers!?! They are spending so much time patting themself on the back, and promoting their work, that they don’t realize they’ve just shot themself in the foot.
Metrotex along with NTREIS, does not allow sales prices to be used in Advertising.