Social Media is Advertising and both MLS Rules and the Code of Ethics Apply
Before you make a claim on a social media site or in any print or non-print advertising about your ranking in the market, make sure you include the criteria you met to make the claim. Without including the criteria your claim could be construed as false or misleading advertising. There is an MLS rule and an article of the REALTOR® Code of Ethics that addresses false and misleading advertising.
There is a Category 2 MLS violation (automatic $100 fine) based on MLS Rule XIII that reads as follows:
2.17. Use of MLS Statistical Data. Publication of statistics from MLS for use by Brokers in claiming market share, or for any other reason, must include ALL criteria used that produce the claim ore report. MLS Rule XIII further describes the disclaimer that must accompanies the claim or report: Based on information from the MLS for the time period ______date to _______date and then list ALL the criteria used to produce the report.
In addition, Article 2 of the Code of Ethics requires REALTORS® to be truthful in their advertising and representations. When real estate agents claim to be #1 in something or in the top 10 of something, the public assumes that claim in based on verifiable statistics otherwise it could be deemed false or misleading. Make sure you can back up your claim if you find yourself having to defend it.