Lockbox Code Fine Increased (07/05/2010)
Document Actions
We wanted to make you aware of a fine increase that was recently approved by Realcomp's Board of Governors. During their June meeting, the Realcomp Governors approved increasing the fine from $100 per occurrence to $1,000 per occurrence for any agent who provides a lockbox code or any other type of access to a property to anyone who has not been authorized by the listing broker. This fine increase is effective immediately.
Whether a home is vacant, bank-owned, or otherwise, giving lockbox codes directly to unauthorized persons is fineable (and not a good business practice).
If you are made aware of an MLS Subscriber disregarding this policy, we encourage you to report this individual to Realcomp's Customer Care Department.
Additionally, if you encounter any instance of real estate fraud being perpetrated by another MLS subscriber/REALTOR, Realcomp encourages you to contact your Board or Association of REALTORS to discuss this matter with the appropriate contact there and to escalate the matter through the proper channels.
If you have any questions about this modified policy, please let us know. Please call Realcomp's Customer Care Department at (866) 553-3430.
Created by
fgreen
Last modified 2010-08-30 16:40 expired
Last modified 2010-08-30 16:40 expired
