Comparable Sale Reporting for FSBOs

We have had a few questions about why listings can go into the MLS and are immediately reported as sold with “Comparable Sale” as the listing or selling agent.  That is to identify an off-market transaction that occurred – either an unlisted property or office exclusive. Our bylaws allow for the reporting of off-market sales after the fact to help all REALTORS/Appraisers have access to the best comparable sales data for CMAs and general market knowledge. Note: If you attempt to enter an off-market comparable sale that should have been listed on the MLS, that triggers staff to look further into the matter to determine if our rules were broken. Also, the MLS Board is currently considering changing “comparable sale only” reporting in a separate property entry so that it can be used for CMAs but not mingle with the sales data for MLS marketing homes in our market reports.  We will keep you posted, and in the meantime, if you have questions please call Linda and she will be happy to explain.