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Auction Property in MLS. Geoff Gurney, CIO Emerald Coast Association of REALTORS ®. National Association of REALTORS ® Multiple Listing Issues and Policies Forum May 15, 2008. Summary of ECAR Auctions. Information Exchange Model Separate from sales categories No compensation

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auction property in mls

Auction Property in MLS

Geoff Gurney, CIO

Emerald Coast Association of REALTORS®

National Association of REALTORS®

Multiple Listing Issues and Policies Forum

May 15, 2008

summary of ecar auctions
Summary of ECAR Auctions
  • Information Exchange Model
    • Separate from sales categories
    • No compensation
    • Voluntary participation
  • Describes the Auction
    • No price
    • Details of event
    • Limited property information
  • Slow Steady Acceptance
    • Released May 2004
    • Measurable increase in usage
    • Rules added to MLS categories
ecar auction required fields
Auction

Auction Type(Absolute, Minimum Bid, Reserved)

Auction Date

Auction Location

Pre-Offers?

Bidder’s Choice?

Online Bidding?

Inspection/Preview Instructions

ECAR Auction Required Fields
  • Property/Listing
    • Property Address
    • Parcel ID/Legal
    • Property Type(Home, Condo, Commercial, Land, etc.)
    • Seller Name
    • Listing Date
    • Expiration Date
ecar auction optional fields
Property/Listing

Square Footage

Bedrooms

Baths

Stories

Year Built

Acreage

Waterfront Type

Waterview Type

Seller Phone

ECAR Auction Optional Fields
  • Auction
    • Minimum Bid
    • Auction Time
    • Buyer’s Premium
    • Registration Deadline
subsequent actions by mls
Subsequent Actions by MLS
  • July 2006 – added MLS rule requesting non-listed property sold at auction to be entered into appropriate sales category at closing
  • May 2008 – added requirement that current listings being “converted” to auction be identified if staying active and include Type of Auction and Auction Date
additional information available
Additional Information Available
  • Need help setting up auctions?
    • Auction Marketing Council web site

http://AuctionMarketingCouncil.com

    • Geoff Gurney

Emerald Coast Association of REALTORS®

[email protected]– (850) 243-6145

    • Ben Anderson

[email protected]– (850) 654-5300

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