Rules, Regulation and Compliance
Why Can't I Search or Filter By BAC?
Searching, filtering, and sorting by compensation (BAC) violates the policy prescribed in our BLC Rules & Regulations. Section 12.3 Non-filtering of Listings BLC participants and subscribers must not, and the BLC must not enable the ability to, ...
MIBOR's Commitment to Antitrust Compliance
MIBOR REALTOR® Association is a not-for-profit trade association committed to empowering our members, strengthening the marketplace, and improving the business conditions of the local real estate industry. Whenever competing (or potentially ...
Public Remarks (Property Description)
Members can utilize Public Remarks remarks in the following ways: To provide a description of the listed property. Provide characteristics and features of the property Include amenities within the community Present allowances that the seller is ...
Offers of Compensation in the MIBOR Broker Listing Cooperative
Key Takeaways: WHAT: Buyer Agency Compensation (BAC) field in ConnectBLC will accept a zero (0) $ or % WHEN: Effective Wednesday, January 31, 2024 WHY: Policy requires communication of the offer, which offer can be any amount including zero. This ...
Direct Soliciting - Contact Seller Directly
Direct Soliciting Definition There is a “For Sale by Owner” or other sign or notice on the property or listing record indicating that the seller is soliciting direct contact from buyers. Direct Soliciting Application If there is direct solicitation, ...
Days on Market (DOM) and Cumulative Days on Market (CDOM)
Days On Market (DOM) Days on Market count for every day a listing is in Active status, beginning with the listing contract date. Listings in Pre-market status do not accumulate DOM. A listing which expires and is entered as a new listing, regardless ...
Media and Photos on Sold Listings
Listing data from the BLC has a lifecycle that lives on past the transaction time. Sold, expired, and other off-market activity is used for historical purposes. Data best practices ensure historic records remain a snapshot of the information that was ...
Office Exclusive Listings
Office Exclusive Listing Definition a. Seller(s) requires privacy and therefore requires their property to be submitted to the service as an Office Exclusive Listing with full understanding of the prohibition of public marketing, of any kind. How to ...
Released Listing Application
A listing may be Released from the service when a Mutual Release from Listing Contract has been executed between the sellers and the listing broker, as noted in the IAR form (Option A). "Seller and Broker and its agents release each other from all ...
Withdrawn Listing Application
A listing may be Withdrawn from the service when a Mutual Release from Listing Contract has been executed between the sellers and the listing broker, as noted in the IAR form (Option B). "Seller and Broker agree to withdraw the Property from the ...
Legal Guidance for Seller's Disclosure
For details regarding this case, please refer to the IAR Legal Hotline resources found here: https://indianarealtors.com/legal/legal-library/. You will need to login for access. A. The document titled "Sellers Disclosure Summary" can be found under ...
Can the List Price increase on a Pended property?
The action of increasing the List Price when a property has Pended is not expressly prohibited. However, it does pose a risk to the quality of the listing data. As the success of our industry and community rely on the quality of data captured within ...
Can a Seller accept a Sight Unseen offer on a listing that is in Temp Off Market status?
A Seller can accept an offer on a listing that is currently in ToM status and not be in violation of any compliance rules or regulations. The house is the property of the Seller, so if they want to receive and accept an offer at any point in their ...
Can I increase the List Price when the listing has Pended?
Though this action is not expressly prohibited, it does pose a risk to the quality of the listing data. As the success of our industry and community rely on the quality of data captured within the BLC®, it is important to understand the potential ...
Questions about IAR Continuing Education (CE)
Members of the Indiana Association of REALTORS® receive a 12-hour online Continuing Education package each year at no additional cost. The package is from IAR’s school, the Real Estate Certification Program, and will fulfill both Broker and Managing ...
Types of Status Disclosures
Status Disclosure Definition a. First Right of Refusal: Parties have completed the “Addendum to Purchase Agreement - First Right Contingency” form, which allows the property to remain on the market. The listing is set to include the Status Disclosure ...
Legal Support Information
Members, or REALTORS®, can use the IAR website to get legal support, access statewide transactional forms, find broker and managing broker CE classes plus other professional development opportunities, track pending legislation and regulations at the ...
How do I log into PATH LMS for my Education Waiver?
1. Click on the pathlms.com link included in your invite email. 2. Select Sign In in the top right corner. 3. Input your MIBOR e-mail as your username; your MLS number will be the password if this is the first time you are logging in. If this is not ...
How do I log in to the Compliance course?
Please click here to access the learning management system: https://www.pathlms.com/mibor/courses/40873# . Click Sign In to the top right of the page. If this is the first time logging in to the system, your username will be the email account you ...
Showing a non-BLC Property or as a non-BLC Subscriber
If you are showing property in another MLS, or if you have a listing that a non-BLC subscriber would like to show, property access and compensation must be negotiated prior to the showing or any purchase offer submission. Cooperation and Offers of ...
Flood Plains
In a transaction, all ascertainable information must be disclosed. Flood plains can affect the need for additional insurance and therefore the cost of purchase, and perhaps the lending on, a property. Flood plain information can be seen in the Flood ...
How can I correctly advertise someone else's listing?
Section 4.3 - Solicitation of Listing Filed with the Service: Participants shall not solicit a listing on property filed with the Service unless such solicitation is consistent with Article 16 of the REALTORS®' Code of Ethics, its Standards of ...
Multiple Properties
Multiple Properties Listing Definition a. A listing contract for more than one property and has one list price. Multiple Properties Listing Application Each property shall be entered as a separate listing in the service with the aggregated list price ...
Released and Withdrawn Dates
Released Date Definition Seller(s) and Participant and Listing Agent complete a Mutual Release contract to release each other from all rights, duties and liabilities in respect to the Listing Contract and agree that the Listing Contract shall be ...
Sharing BLC Password and/or Unauthorized Access Rules
$1000 – (Level Four) Violation of “Sharing BLC® Password/Unauthorized Access” Rules The BLC® Listing Service is a subscription-based service requiring each member to have a unique set of credentials (Login ID and Password) to gain access. ...
Staff Transfer of Listings
Staff Transfer of Listings BLC® Listing Service support staff will transfer listings from one agent to another in the same company or from one branch to another within the same firm. Listings moved from one company/firm to another must be released by ...
Report a Listing Violation
Reporting Violations Violations of rules, regulations, and policies governing the use of the BLC® Listing Service may be reported to BLC® Listing Service support staff via email, helpdesk, fax, or by utilizing the “Report Rules Violation” link in the ...
How do I request a Fine Waiver?
Requesting a Waiver (a). A Member issued a Notice of Violation may request, in writing, that the fine be waived (“Waiver Request”). The Waiver Request, together with any additional documentation the Member wishes to submit must be received by MIBOR ...
List Date
List Date Definition The effective date of the listing contract or the date of the seller(s) signature, whichever is later. List Date Application a. A listing must be entered in MIBOR BLC® listing service within two (2) full business ...
Repeat Violations
Repeat Violations Listing agents receiving three (3) fines in a 12-month period will be required to attend an educational session on the rules, regulations and policies of the BLC® Listing Service within 90 days of being notified of the requirement ...
BLC Access Suspension
Suspension of BLC® Listing Service Access (a). In the event a violation or decision is deemed final (whether by exhausting all remedies provided under the Compliance Policy or this Manual or due to the failure to timely request a waiver, hearing, or ...
Delete a Listing
BLC® Listing Service support staff will not delete or erase a listing and its history from the BLC® Listing Service system under any circumstance other than the removal of an accidental duplication or re-list occurring within five (5) business days ...
Erroneous Duplicate Sale Entries
When needed, be sure to only change one BLC# to Sold when a single listing is entered with multiple BLC#s or in multiple property types. Any additional BLC#s should be changed to Released status. Changing multiple entries of the same property to Sold ...
Watermarks on Listing Photos
The BLC Rules state: No photograph or architect’s rendering of the listing, which contains any type or copy, including logo(s) or advertising of any kind, placed on or within the photograph (excluding normal real estate signage within the ...
Reuse of Listing Photos
Reusing another agent's listing photos requires having the previous agent's permission.
Fair Housing
For more information about Fair Housing rules, please visit the Fair Housing Center of Central Indiana or contact MIBOR’s Professional Services staff at professionalservices@mibor.com.
Showing Availability
The BLC Rules define “Showings” as either of the following: 1) Physical, on site viewing of the listed property by potential buyers with a cooperating broker; or 2) Virtual showing (which could mean live or pre-recorded video of listed property), ...
Mandatory Fee Disclosure (HOA)
The BLC Rules define a “Mandatory Fee” as follows: Mandatory Fee Definition a. Any fee that is required by this property, typically association dues. Mandatory Fee Application a. Any association that requires a mandatory fee should have ...
Expired Estimated Closing Date
The BLC Rules state that listing status updates must be completed within 2 business days. Please update the Estimated Closing Date or, if the listing has sold, update the listing status to Sold.
Bedroom Definition
The BLC Rules define a “Bedroom” as follows: Bedroom Definition a. Must have a closet within the bedroom or master bedroom suite. b. Must not be used as a “walk through” to another room. c. Must have two means of egress (door and window). i. ...
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