Linda’s New Years Resolution: No Fine!

Linda wants to help you start the year off right.  She wondered how to help you aviod some common mistakes so you both could be stress-free in 2019.  As we jump into the new year each of us is organizing, sorting through files and trying to stream-line processes.  So, here’s two things that Linda noticed were reoccurring questions in recent months:

Yay, I’ve got a new (or extended listing! Paperwork Submission:

Whether you’re entering a listing for the first time, extending a listing that has already expired in the MLS, or entering a listing under multiple property types, anytime your data entry in the MLS creates a new MLS#, we need corresponding paperwork.  Just what is corresponding paperwork, you may ask?  Well, for a brand new listings or one that has been off market more than 30-days, that would be an Exclusive Right to Sell or Exclusive Agency contract.  If it’s a listing that has expired with your firm in the past 30-days, its the Modification to the Exclusive Right to Sell contract.  All listing paperwork submission should be sent to:  (We no longer have a fax machine.)

Coming Soon, you say?  Put a lawn sign out?  Refusal to List or Delayed Submission to the MLS:

Sometimes, you have a seller who isn’t ready to put their listing into the MLS database.  Perhaps they need to replace the carpet, or just choose to hold the listing off the market until a specific date…if you have an Exclusive Right to Sell or Exclusive Agency contract with them, you must also obtain the Refusal or Delayed Submission to the MLS form and submit both to the MLS within 2-business days of the seller’s signature.  When the listing is entered into the MLS, you must resubmit the Exclusive Right to Sell or Exclusive Agency form, with the MLS# on it, as above.  Believe me, other agents call to check.  And if there is no contract or delay filed in the MLS… well many just call the seller.  Remember that Coming Soon listings bring liability to you if you are hoping for a quick in-house sale (and NOT working 100% in the seller’s best interest). Exposure to the full market, especially one with a lack of inventory, is an important legal obligation you promise as a fiduciary of your client – make sure you are always repping them the best!

As you’re encountering these scenarios, or others, in your day-to-day business, should you have any questions please contact me, Sue or Sandy.  We’re happy to help, and hope to do so before a problem arises!