Rules and Regulations
REcolorado maintains rules and regulations guidelines to ensure the offer of cooperation and compensation is extended to all Participants and the sharing of listings among brokers is centralized and standardized. The peer-based MLS Rules and Regulations Committee serves as an objective body to address compliance concerns, as well as the formulation of policies that support cooperation and ensure reliable, accurate data.
The Rules and Regulations Committee reviews current issues that affect existing rules, as well as recommendations for new rules as needed. These recommendations are then submitted to the REcolorado Board of Directors for approval, along with review by shareholders and the National Association of Realtors®. The committee is comprised of a Chairperson and two members from each local REALTOR® Association that REcolorado serves-Aurora Association of REALTORS®, Denver Metro Association of REALTORS®, Douglas Elbert REALTOR® Association, Mountain Metro Association of REALTORS®, and South Metro Denver REALTOR® Association. The Vice Chair of the REcolorado Board of Directors serves as Chairperson of the Rules & Regulations Committee. The current Chairperson is Jan Reinhardt of RE/MAX Alliance. (Document ID: 0901 Created: August 17, 2005 Modified: May 28, 2008)
When a compliance issue is brought to the attention of the REcolorado compliance department, or when there is a recommendation for a policy change by the National Association of Realtors®, the issue is reviewed by the MLS Rules and Regulations Committee at monthly meetings. The process of review and evaluation may take as long as six months before approval by the Board of Directors. Once approved, REcolorado disperses information about new or changed rules and regulations through several mediums including email blasts to customers, customized information pieces available at the REcolorado office and from account managers, and on REcolorado.com. In addition, all new and recently-amended rules and regulations are included in new member packets. Finally, REcolorado gives presentations and classes on new and amended rules and regulations, which are FREE to customers. (Document ID: 0902 Created: August 17, 2005 Modified: September 7, 2005)
The REcolorado Compliance department is the liaison between REcolorado customers and the MLS Rules and Regulations Committee. The department's primary functions are to research the details of alleged violations, notify the committee of all policy recommendations from the National Association of Realtors®, educate customers about rules and regulations, conduct non-association member orientations, and apply the rules and regulations consistently and fairly. The best way for a customer to comply with the MLS Rules and Regulations is to be dedicated to accurate listings. In addition, customers should understand the MLS Rules and Regulations, read the education pieces, or contact the Compliance department at (303) 850-9576 if questions arise. Finally, REcolorado offers FREE training classes where customers can learn about compliance. (Document ID: 0903 Created: August 17, 2005 Modified: January 7, 2009)
If a customer identifies a possible violation, it may be reported: 1) online using the Report feature in Matrix; 2) via an email to: compliance@REcolorado.com; 3) via fax, using a Violation Form, to (303) 850-9637.
When it has determined that a violation has occurred, a notice is sent to the listing broker requesting the violation be corrected within three days. A copy of the notification is also sent to the managing broker. If a listing remains in violation following the three-day period, a progressive fee schedule is assessed and added to the next monthly MLS bill for each three-day period that the listing remains non-compliant with the MLS Rules and Regulations. The Rules and Regulations Committee may recommend suspension of membership in the event of continued non-compliance or repeat violations. Violations may be disputed by the listing broker by filing a grievance with the Rules and Regulations Committee for consideration and final determination. All grievances must be submitted in writing stating the reason for dispute and request for review. (Document ID: 0904 Created: August 17, 2005 Modified: Septmeber 19, 2007)