MRED Glossary Changes

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MRED Glossary Changes – 08/27/13. 1 Midwest Real Estate Data LLC. August 26, 2013. - Changes to Residential Glossary.
MRED Glossary Changes – 08/27/13 -

Changes to Residential Glossary NEW Additions to Residential and Commercial Glossaries NEW Additions to Residential Glossary ONLY

Changes to Residential Glossary % Common Area/Coop/Condo Ownership - Change to Instruction/Definition/Rule - Enter percentage amount of individual ownership of Common Area/Coop/Condo. Note: For Attached Single Family this is used to determine how many owners live in units vs. rent them out. % Owner Occupied- Change to Instruction/Definition/Rule - Enter total percentage of owner occupied units. Note: For Attached Single Family this is used to determine how many owners live in units vs. rent them out. Additional Sales Information - Change to Instruction/Definition/Rule - Enter code(s) desired. Choices available on listing input sheet and through drop-down selection in connectMLS. Note: Land Property type ONLY: Select Restricted Builder when use of a specific builder is required with lot purchase. CHANGED ON RESIDENTIAL AND COMMERCIAL - Contingency (CTG) Status – Change to Instruction/Definition/Rule - A contingent listing. Contingent listings are active properties in which backup offers can be presented. Note: Continue to Show field is required when marking the listing CTG. Agent Remarks field will display when placing into contingent Status so the Agent can edit as deemed necessary. Contract date and selling agent ID are required, but will only display to the Listing and Selling offices and agents involved in the transaction. Maximum Pet Weight - Change to Instruction/Definition/Rule - Enter maximum pet weight allowed by Association. Note: This field is ONLY displayed if Y is selected for Pets Allowed field and is only required if Dogs OK and/or Pet Weight Restrictions are selected for Pet Information. Pet Information - Change to Instruction/Definition/Rule - Enter code(s) desired. Choices available on listing input sheet and through drop-down selection in connectMLS. If Dogs OK and/or Pet Weight Restrictions are selected then Maximum Pet Weight is a required field. Note: This field is ONLY displayed if Y is selected for Pets Allowed field.

NEW Additions to Residential and Commercial Glossaries Listing Sheet Field Name - Continue to Show? Property Types - Detached Single Family, Attached Single Family, 2-4 Units, Mobile Home, Land, Residential Rental connectMLS Tab - Edit Listing Status Instruction/Definition/Rule - Enter [Y] or [N] – has seller’s written direction. Note: Agent Remarks field will display when placing into contingent Status so the Agent can edit as deemed necessary. Required – Yes

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Midwest Real Estate Data LLC

August 26, 2013

MRED Glossary Changes – 08/27/13 Listing Sheet Field Name - Are Any Property Photos Virtually Staged? Property Types - Detached Single Family, Attached Single Family, 2-4 Units, Mobile Home, Land, Residential Rental connectMLS Tab - Media Instruction/Definition/Rule - Enter [Y] or [N]. Note: If Y is indicated, a note will be added to all Agent and Client Detail reports and the photo browser. Required – Yes

NEW Additions to Residential Glossary ONLY Listing Sheet Field Name - Agent Notices Property Types - All Property Types connectMLS Tab - Office/Sales Instruction/Definition/Rule - Enter code(s) desired. Choices available on listing input sheet and through drop-down selection in connectMLS. Required – No

DISCLAIMER: PLEASE ALWAYS CHECK WITH YOUR MANAGING BROKER OR OFFICE MANAGER TO ASCERTAIN IF ANY OF YOUR OFFICE’S POLICIES SUPERCEDE ANY GENERAL RULE OR SUGGESTION COMMUNICATED HEREIN ABOUT THE MLS SYSTEM, OTHER MRED PRODUCTS/SERVICES OR REAL ESTATE IN GENERAL. NOTHING CONTAINED HEREIN IS LEGAL ADVICE.

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Midwest Real Estate Data LLC

August 26, 2013