What's Happening At WAAR

UPDATE: Transition from Co-Op to WMLS-Only Matrix System

1.  When will the conversion from the Co-Op back to the WMLS ONLY Matrix system occur?

The cutover date is scheduled for Tuesday, September 11, 2018.

2.  Will there be any “down” time?

No – the system will continue to be available 24/7 for searches but please note that  WMLS users will not be able to input or maintain listings after 5:00 p.m. on Monday, September 10^th, until early Tuesday morning, September 11^th.    

3.  What is the biggest difference that you’ll notice when you log in on September 11^th?       

You’ll notice that there will be fewer listings because only listings entered by WMLS users will be displayed.

4.  What is the process and cost to re-join WMLS, CVRmls and/or CBRAR?

There will be no cost to re-join the WMLS for those who stopped WMLS services between March 1, 2016 and August 31, 2018 and decide to re-join the WMLS prior to January 1, 2019. The process to re-join the WMLS involves completion of various forms, based on the type of subscription needed.  Please contact CVRmls (804-422-5000) and/or CBRAR (804-776-0568) to inquire about their process and cost.

5.  How do I decide which MLS to choose?

Your eligibility to join MLS is based on your broker’s preference(s).  Check with your broker to determine which MLS’s your broker subscribes to and make a decision from there. 

6.  Will lockbox reciprocity continue between the three MLSs?

No.  Unfortunately due to liability concerns and data restrictions, lockbox reciprocity between the three MLSs will be discontinued.

7. Will the WMLS Matrix system look and function the same as it does today?

Yes.  The plan is that on September 11^th when WMLS users log onto the MLS Matrix system, it will look and function the same.  Enhancements and modifications to improve “ease of use” will be made in the days and weeks after the scheduled launch.  Keep an eye out for more detailed information on these improvements.

8. Will there be a mandatory training requirement for existing WMLS users?

No, existing users will not need to complete additional Matrix training, for the system will function much like it does today.   The WMLS will continue to offer basic Matrix training for all new users and existing WMLS users are always welcome to attend if needed. 

9. Are my monthly WMLS fees going to increase because of the Co-Op ending?

No.  WMLS recurring fees will remain unchanged. 

10.  Will WMLS continue to provide us with all the current ancillary products currently offered?

Yes, the full suite of Instanet products, direct access to REALTORS® Property Resource (RPR), “Announce My Listing”, Realist Tax, and HomeSnap Pro will continue to be available to you at no additional cost.  Please note that the GoWBGmls App (comparable to HomeSnap), is being discontinued effective September 11^th due to extremely low usage by WMLS users.

11. What will be the process for IDX/RETS vendors to continue receiving data from the WMLS, CVRmls and CBRAR?

Any existing IDX/RETS vendors currently receiving data from all three (3) MLSs (Co-Op vendors) will continue to receive the data for all three (3) through December 31, 2018.  WMLS staff will be in contact with Co-Op vendors to provide access to WMLS data after September 11^th in order to facilitate access via a separate URL.  Any existing vendors currently receiving data from just the WMLS will also be notified.

12. Will the WMLS Rules and Regulations change?

The WMLS Rules and Regulations are considered to be a “living document” and the WMLS Board of Directors continues their efforts to create rules that support your business, not impede it! A current copy of the WMLS Rules and Regulations can be found on the front page of the WMLS Matrix system in the “External Links” section.            

Education Changes Go Into Effect 1/1/2019

The following changes were accepted by the Real Estate Board by the VREB Education Committee on July 12, 2018: 

Post License Education

 There will be a two-hour real estate finance class added to the mandatory classes.  The total hours required remains at 30 hours.  The Real Estate Law and Regulations category will be reduced from eight to six hours.  The following will be the required curriculum effective 1/1/19.

• Fair Housing, ADA and Civil Rights (two hours)
• Real Estate Law and Regulations (six hours) effective 1/1/19.
• Ethics and Standards of Conduct (three hours)
• Current Industry Issues and Trends (two hours)
• Agency Law (three hours)
• Contract Writing (six hours)
• Risk Management (three hours)
• Escrow Requirements (three hours)
• Real Estate Finance (two hours) effective 1/1/19

How does this affect new licensees whose license expires after 1/1/19?

1. If they have completed their 30 hours of education prior to December 31, 2018, their education requirements will be considered complete.
2. If they have not completed their 30 hours of education prior to December 31, 2018, they will need to take an approved real estate finance class to complete their education requirements.

Broker Management/Supervision Education

Of the eight hours of broker management/supervision education, a two-hour class specific to the broker supervision requirements under Virginia and Board regulations will be required.

How does this affect licensees whose license expires after 1/1/19?

1. If they have completed their 8 hours of broker management/supervision education prior to December 31, 2018, their education requirements in this category will be considered complete.
2. If they have not completed their 8 hours of broker management/supervision education prior to December 31, 2018, they will need to take an approved 2-hour class on the regulations to complete their education requirements.

Thanks to our 2018 WAAR Affiliate Marketing Partners!

Please consider our affiliate partners when doing business in 2018. They are:

PLATINUM PARTNERS:

• Atlantic Bay Mortgage Group
• Movement Mortgage

SILVER PARTNERS:

• Prime Lending
• Fulton Mortgage Company
• Shaheen Law Firm, P.C.
• Bank of America
• Pillar to Post
• Wells Fargo
• Ford's Colony Country Club
• Finance of America Mortgage
• STAT Services

ENTRY LEVEL PARTNERS:

• US Inspect
• Middle Peninsula Insurance & Financial Services
• First Light Imaging, LLC
• Middle Peninsula Insurance
• Blue Heron Title Company
• Village Bank Mortgage