How many listings are you calling on that aren’t available because the agents are NOT reporting when a listing goes under agreement? How badly is our data being corrupted with inaccurate Under Agreement dates? A LOT. We’ve been hearing this complaint ramp up significantly in the recent weeks. The MLS Board is looking at possible solutions, but I can tell you right now that the old “everyone is doing it and no one is reporting it is OVER.” The attitude that “this is the cost of doing business” should be over too. From the newest of agents, to the veteran DR, to the leaders in the association, we all agree to follow the same rules and regulations to make the conducting of business most effective. Hearing that agents are calling for a dozen appointments and finding less than HALF have active P&S agreements in place not only makes the agent looks bad, it is a significant waste of time for buyers agents… and staff.
If your seller accepted an offer but doesn’t want his property marked as pending. YOU CAN LEAVE IT AS ACTIVE, if you mark it with a U/A flag. Here are your options:
- If the seller will continue to show the property and take back up offers you can add a contingency to the MLS database (go to: change | add/remove contingency). A property that is active with an u/a show contingency added will continue to show up in search results and be sent to syndication sites such as realtor.com, iberkshires.com and the Point2Agent sites, including Trulia and Zillow.
- Note: If you have a contingency on the property that is OTHER than a purchase agreement (such as a right of first refusal, bank approval required, probate certificate required, for examples) you can mark it contingent Y and explain when asked or in the Realtor-to-Realtor remarks.
- If the seller will not continue to show the property then it must be listed as pending in the MLS database. Please remember that you act in the best interest of your seller but this does not allow for violation of rules and regulations or policies to accomplish their requests. All status changes must be reported to the MLS within two (2) business days of obtaining all required signatures.
“U/A date” is the date the Purchase and Sale is executed. “Sale date” is the date that deed is transferred. Fudging dates so you don’t get fined is phooey bad business. Please don’t.
The practice of leaving a listing as active, without a contingency added, when there is a signed purchase and sale contract in place is in direct violation and the MLS Board of Directors will review repeat offenders for potential disciplinary action. This is one of those “self-policing” issues that exist in our business. The staff has no way of knowing when a listing has been placed under agreement nor do we know if your colleagues are failing to report status changes or refusing to show properties that are still marked as active.
If you run up against this issue, it is in everyone’s best interest to contact the Board Office so we can rectify the status displaying in the database. We do not use your name when contacting the listing broker and/or agent nor will we disclose it if asked and we can take the opportunity as a learning tool to remind specific brokers about the correct policy. If we have repeat offenders that can be addressed as well. While we understand that it is frustrating, we do want to help all brokers to be on a level-playing field and to assist those who may not be familiar with the policies or the rules and regulations. We request that you take the moment to contact us if you need assistance!
If you are the person that is doing this PLEASE LET US KNOW WHY YOU THINK THE POLICY SHOULD BE CHANGED. It’s really important that a fair system is setup for all. And like everything else, what you do is a reflection on your integrity and professionalism. Make it a good reflection 😉