...that listings cannot be entered into our system for comps only? Listings entered solely for statistical reasons are not allowed as per section 4.2 of the GFC CMLS Rules and Regulations. Ironically, entering these listings to enhance the comparables actually do the system an injustice by skewing market time calculations as well as other information.
If you receive a Listing Validity Check from Data Verification, please do not delay in contacting us at 203-840-6674 ext 320 to avoid unnecessary penalties for you and your office.
Section 4.2 - Listings May Only Be Filed to Offer Cooperation and Compensation to Other participants.(bold) The Service will not accept for Filing a Listing that is (a) not freely available to offers from cooperating brokers at the time it is Filed; (b) filed strictly for the purpose of enhancing the Listing Broker/Agent's "Market Share" statistics; or (c) filed only to provide comparable sale information. Violations of this section 4.2 are subject to "Second Tier" fines and penalties as set forth in Section 3 of Schedule C.
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