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Before consumers can access listings on a VOW, the policy requires that they first must become bona fide customers of the brokerage operating the VOW and sign a Terms of Use Agreement. Any agreement imposing a financial obligation between a consumer and the operator of a VOW must be established separately from the Terms of Use.

The new standards protect the integrity of MLS data by prohibiting "scraping," or copying listings from one website to another, and by requiring that data be refreshed at least once every seven days. VOW sites must display a privacy policy and information about customers registered on the site cannot be sold unless the VOW operator is a real estate broker providing a referral to another brokerage.

Local MLSs may require VOWS comply with the same policies and business practices required of bricks-and-mortar businesses. For example, if the names of listing brokers are displayed on VOW listings, they must also be displayed on listings given customers in Realtors' offices.

The policy gives local MLSs the flexibility to determine how expired or sold listings are handled, how long passwords shall be valid, how many listings an on-line customer can view at a time and whether agents or sales associates can operate VOWs.

For MLSs the policy will take effect no later than January 1, 2004. Brokers operating VOWS will have an additional 180 days after the adoption of a policy by their MLS to comply fully with its provisions.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing approximately 880,000 members involved in all aspects of the residential and commercial real estate industries.