NEWS RELEASE

Friday, October 22, 2010

The National Association of REALTORS® has approved changes made to the NTREIS Rules and Regulations. Below is a summary of the changes:

5.01 – NOTE:  NAR language of definition of a Participant

7.06 – Listing a property in more than one property category

8.08 – Reporting of change of status to a listing

10.01 – Changing an offer of compensation prior to an offer to purchase

10.02 – Provides for the new “Short Sale” field and defines a short sale per the NAR language.

17.10 – Prohibits the display of expired, withdrawn, pending and sold listings on a consumer facing (IDX) website

17.16 – Restricts use of IDX listings but provides for indexing

17.22 – Provides consumer to be able to opt-out of comments and AVM’s on IDX websites

22.22 – NEW:  Participants and Subscribers leaving a firm may not induce clients to cancel contracts.