Make sure you are compliance with the new 2024 RealTracs Policies.
Data Integrity Infraction | Applies to | Fine |
1. Submitting a listing to Realtracs without a valid exclusive listing agreement OR signing, or allowing anyone else to sign, forms for the owner. 2. Failure to submit a new listing within 48 hours. 3. For an Exempt Listing, failure to submit a new listing and a “Sellers Instruction Not To Disseminate Property Information Through Realtracs” form to Realtracs within 48 hours. 4. Manipulating listing content to circumvent Realtracs’ Rules, to provide a misleading representation of the listing, to manipulate cooperation with other Participants, or to change information ex post facto. | Listing Office or User | 1st violation – $250 2nd violation – $500 3rd violation – $1,000 |
5. Failure to report a listing “Under Contract-Not Showing” or “Under Contract-Showing” to Realtracs within 48 hours of the execution of a Binding Sales Contract. 6. Restricting showings for an Active listing. 7. Failure to report a listing “Closed” to Realtracs within 72 hours. 8. Failure to report a listing as a Short Sale within 48 hours. 9. Failure to report listing changes to Realtracs within 48 hours (other than those specifically referenced in other fines). 10. Submitting a listing with contact information in any field other than the private remarks field. 11. Removing Listing Content in Closed, Expired or Cancelled listings. 12. Failure to include a known starting point and accurate directions to the front of the property in the “Directions” field. 13. Submitting a residential listing without a foundation and with a construction type other than “To Be Built.” | User | 1st violation – $100 2nd violation – $250 3rd violation – $500 |
14. Submitting a listing or listing changes with items incorrect or required items omitted (other than those specifically referenced in other fines). | User | $25 per incorrect item |
Usage, Conduct or Reporting Infraction | Applies to | Fine |
15. Failure to report changes of licensee, appraiser, paid assistant or paid office staff affiliated with the Participant within 10 days. 16. Violations of Waiver Request. | Office | 1st violation – $500 2nd violation – $750 3rd violation – $1,000 |
17. Sharing an individual's login and password, using another user's login or password, in any way jeopardizing the security of the system, or granting unauthorized access to the Realtracs System. | User | |
18. Granting prohibited public or third-party access to Realtracs compilations. | User or Office | 1st violation – $1,000 2nd violation – $2,000 |
19. Allowing unauthorized use of electronic or printed listing reports or other compilations (distributing listing information to people who are not bona fide customers and clients). 20. Unauthorized use of photographs without permission of the listing broker. | User | 1st violation – $500 2nd violation – $750 3rd violation – $1,000 |
21. Failure of a Participant or User to comply with the requirements for buyer or seller agreements in Sections 3.4 and 3.5 of the Rules. | User | 1st violation – $250 2nd violation – $500 3rd violation – $1,000 |
22. Communicating an offer of cooperative compensation or commission sharing – explicitly or implicitly – anywhere in the Listing Content. | User | 1st violation – Warning and removal of content. 2nd violation – Warning and removal of listing. 3rd violation – Suspension of add/edit for 30 days, removal of listing and warning. 4th violation – Suspension of access to Realtracs System and $5,000 fine. |
23. Use of “Exempt Listings” to circumvent cooperation with other Participants. | Listing Office or User | 1st violation – Warning 2nd violation – $500 3rd violation – $1,000 |
24. Upon request from Realtracs, Participants must produce proof of a valid exclusive listing agreement and/or substantiating documentation for a property listing submitted to Realtracs as follows: i) A valid exclusive listing agreement within twenty-four (24) hours. ii) Substantiating documentation (e.g. ALTA Settlement Statement, offer to purchase agreement, etc.) within forty-eight (48) hours. Failure to submit documentation to Realtracs within the given time frame may also result in the removal of the listing from the Listing Compilation. 25. Upon request from Realtracs, a Participant or User must produce an executed buyer agreement within 24 hours. | Listing Office or User |
Lockbox System Infraction | Applies to | Fine |
26. Sharing SentriKey account access with any other person. 27. Giving or loaning the property key to anyone. | User or SentriLock Affiliates | 1st violation – $250 2nd violation – $500 3rd violation – $1,000 |
28. Removing the key from the property. 29. Removing a SentriLock from a property without the lockbox owner's permission. 30. Any other misuse of the electronic lockbox system as determined by the Directors. | User or SentriLock Affiliates | 1st violation – $100 2nd violation – $250 3rd violation – $500 |
Electronic Mail Misuse | Applies to | Fine |
31. Misuse of email or notification services. | User or Office | 1st violation – $100 2nd violation – $250 3rd violation – $500 |
Rules Enforcement
Violations in excess of listed occurrences will be referred to the Board of Directors and may result in 1) a fine, not to exceed $15,000; 2) suspension, not to exceed one year; and/or 3) termination, not to exceed three years.
Staff issues a citation for a specified Realtracs’ Rules violation, per incident. The fine for the first violation may be waived if corrected within 48 hours from date of notice and/or at staff’s discretion.
If the Participant/User wishes to challenge a fine, the challenge must be submitted in writing to the Board of Directors.
Last Revision: August 6, 2024
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