This Just In: Reveal Your Sales price OR ELSE!
Just got this email from a San Antonio Realtor — is this true???? Tell me because I want to sell a property in SA and may have to list by Dec. 31…..
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Change In MLS Rules & Regulations -Â Requirement For Disclosure Of Sales Price - Effective January 1, 2008
Section 2.6 - All mandatory data fields must be reported when a change to sold is reported. This data includes sales price. There is no non-disclosure of sales price. Non disclosure of sales price is a finable offense and will carry a sanction of $5,000 to the agent. In the event that the agent does not pay the fine, the agent will be suspended from the service for a period of 30 days and the Broker will be assessed a $5,000 fine. In the event the Broker does not pay the fine the Broker will be suspended from the service for 30 days. Note: when the Broker is suspended the entire office/company is suspended.”
3 Comments to “This Just In: Reveal Your Sales price OR ELSE!”
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That is great news. Now all the high dollar house sales people can’t keep the sales price non-public. Now all those rich folks will have to pay the PROPER property tax and not hide behind an artificially low price.
This is seriously BIG NEWS for Texas! I’m going to check with our MLS to see if this is headed our way!
I checked and this is just a San Antonio MLS rule…for now, that is.