7/14/2011 InnoVia Tech Support is limited to offering support to the two latest versions of browsers and systems. Make sure your computer is running on one of two latest system versions and update your browser. The ipad is now fully compatable and new "tablet" and "wireless (smartphone) versions of InnoVia are in programming.

Congress Passes Flood Insurance and Loan Limit Extensions

Before Congress adjourned to return home to campaign for the mid-term elections, two pieces of legislation of critical importance to REALTORS® were passed.

On October 4, Congress passed an extension of the loan limits for Freddie Mac and Fannie Mae (the GSEs) and FHA. Under the bill, which was signed by the President, the current loan limits will remain in place through September 30, 2011. Extending the loan limits was necessary to avoid potential market uncertainty.

Additionally, Congress passed, unanimously, a one-year extension of the National Flood Insurance Program (NFIP) to September 30, 2011. S. 3814 was first approved on September 21, 2010, by the unanimous consent of the Senate and two days later, by the voice vote of the House of Representatives. The bill was signed by the President on September 30. With program authority now extended for a year, it is expected that  attention will now turn to proposals to reform and ensure the financial soundness of the NFIP.

Practitioners Responsible for Full Disclosure

Source: RISMedia (10/29/2010)

Real estate practitioners have the same responsibility as sellers to disclose information they have that affects the “value and desirability of the property,” a California appellate court confirmed this week.

In Holmes vs. Summers, the seller and the listing associate failed to tell potential buyers about three mortgages against the property totaling $1.141 million. The sellers accepted a buyer’s offer of $749,000, but the deal fell apart because the sellers couldn’t deliver clear title.

The would-be buyers sued the real estate firm and the court found that the real estate practitioner had a greater duty to disclose facts affecting the desirability and marketability of the property than he did to protect the privacy of the seller.

Analysts say this decision will make it incumbent on practitioners with short-sale listings to provide specific information about circumstances surrounding the sales, including approvals required for the sales to close.

9/24/2010: National Flood Insurance Extended Through 2011. The National Association of REALTORS® is pleased to report that Congress has unanimously approved a one-year extension, until Sept. 30, 2011, for the National Flood Insurance Program (NFIP). A long-term extension has been a top legislative priority for NAR. Earlier in 2010 the NFIP lapsed, causing major disruptions for REALTORS®, and with the Sept. 30 deadline fast approaching, NAR redoubled its efforts to extend the program. The bill goes to President Obama next week for signature.

Property Panorama now available to WARDEX users at no charge!!! This is the most exciting thing to come our way in awhile. FREE visual tours for all WARDEX Participants and Subscribers. Unbranded tours must be used in the MLS but branded tours will be available for your marketing emails, website, e-newsletters etc!

WARDEX ZipForms library with InnoVia data forms now live.

RPR Now live!

On May 19, 2010, WARDEX's President Richard Tripp signed a License Agreement between WARDEX and Realtor's Property Resource, LLC aka RPR to feed WARDEX's InnoVia data to WARDEX's Participant and Subscribers' RPR websites. Each member of the National Association of REALTOR's aka NAR will be receiving their own non-public website which will have many features for the properties listed in the MLS. Some of these features include 3D mapping, neighborhood demographics, tax data, permit and flood plain information and much more. Go to www.rprblog.com for more information.

Settlement is Reached regarding VOW

(Virtual Office Websites)

VOWs requiring users to login to receive MLS data prompted an antitrust lawsuit by the Department of Justice (DOJ) in 2003. Click here for the Podcast explaining the May 27, 2008 NAR and Department of Justice settlement concerning VOWs. (6.59 min.) Also the Podcast explains the important MLS Participant rule which will affect current MLS Participants in May 2009. This rule will be mandatory for all MLSs and is in place to protect our data from licensed brokers participating in a MLS for the express purpose of using our MLS data to distribute and/or sell to the general public (ex. such as Goodlebase, Yahoo, homes.com, zillow.com etc.).

Unauthorized Access

Why You Must Never Share Your WARDEX User ID and Password

You can obtain a login ID for your personal assistant. See Policy 12 Use of Alias.

June 2008: An agent recently shared his user name and password with a personal assistant and title agent. Your local association can set up an alias for your non-licensed assistant who needs their own log-in.  Occasionally, we hear that an agent shared their MLS password with a client. Both of these actions are in violation of RMLS rules and subject to a $2000 fine. User accounts are approved for one individual and should not be shared with anyone.

Unauthorized access puts the system security at risk and, potentially, our customers. User names and passwords should not be shared with anyone; co-workers, family, friends, technology vendors or clients.

The MLS is a core asset of the real estate industry. If unapproved persons access the MLS, they are stealing the data that you provide and pay for. This is also a violation of the privacy of your clients. The consequences of unauthorized access include data harvesting for solicitation, disgruntled former staff altering data, viewing of sensitive showing information, and targeting of vacant property for theft or vandalism.

Protect your asset. Do not share your user name and password with anyone.                                

Beware of Third Parties Seeking Unauthorized Access to MLS Data

When you subscribe to WARDEX IDX you and your webmaster have agreed that data is to be used exclusively on a WARDEX Participant’s firm or Subscriber’s personal website only.