The accurate status of your listing is an important piece of information, as it communicates where within the listing cycle it is. Below are the statuses that can be assigned to your listing.
Active means the listing is on the market, available to be advertised and shown, and that offers are currently being accepted. If the seller wishes to stop showing the property temporarily during the listing period, the status can be changed to Coming Soon / Hold.
Coming Soon / Hold:
The Coming Soon / Hold status allows participants to accurately reflect the status of a property that has a valid Listing Agreement but is not available for showings as stated by the Seller*. The property must have an Available for Showing date which cannot exceed 30 days. On the Available for Showing Date, the property will automatically switch to Active. There are three very important things to remember with listing in the Coming Soon / Hold status:
- Public advertising of a listing is permitted while in Coming Soon. This includes yard signs, social media posts, email, etc.
- A listing cannot be shown while in Coming Soon. This includes virtual showings** and showings by the listing agent. It must be moved to an active status in order to be shown.
- Changing a Coming Soon/Hold listing to Active or Under Contract-Showing and back to Coming Soon/Hold within 5 days is not permitted and can result in a fine (see Realtracs Rules, Exhibit B, Infraction 5).
* Coming Soon / Hold is an off-market status. This means that listings with this status will not syndicate externally to other websites, send through auto-notifications, or appear on the Hot Sheets.
** Virtual showings are not the same as a virtual tour. A virtual tour is a pre-recorded tour or set of images of the listing. A virtual showing is shown live online and allows for real-time interaction between the agent holding
the virtual showing and a prospective buyer or buyer’s agent.
Under Contract – Showing:
Under Contract – Showing (UCS) simply means the listing has an accepted offer to purchase, pending clearance of a contingency (Sale of a Home, Financing, Inspection, etc.), but will still be shown to prospective buyers for back up offers. When changing the listing to UCS, be sure to have an accurate Under Contract Date.
Under Contract – Not Showing:
Under Contract – Not Showing (UCNS) listings have a Binding Sales Contract, accepted by both parties, and are not actively being shown regardless of any Contingencies. Days Listed will no
longer accumulate. There are a few pieces of information needed when moving a listing to UCNS:
- Under Contract Date – The date the contract/offer was accepted by both parties
- Off-Market Date – The date the property was no longer being shown
- Sales Agent Name – Name of the selling/buyer’s agent
- Co-Sales Agent Name (If Applicable)
Listings identified as Closed are Off-Market and have been sold. Taking a listing to Closed requires three things:
- Closing Date
- Sales Price
- Financing Type – (Cash, Conventional, FHA, etc.)
A listing expires and is no longer active when the Expiration Date Field of the listing passes. This date must match the expiration date found on the listing agreement. An Expiration Date can be extended but cannot be changed to a date prior to the original Expiration Date.
A listing can be withdrawn for a number of reasons, and when identified as such is Off-Market. Only Brokers or Office Managers have the permission to Withdraw a property.
Please note: To withdraw a listing, an exclusive listing agreement must have first been mutually terminated, in writing by the Participant and seller(s), prior to the expiration of the exclusive listing agreement.
Fines or Fees Can Be Levied to the Listing Agent for Violations or Failures to Accurately and Timely Report a Listing Status Change
PLEASE SEE EXHIBIT B: INFRACTION AND FINES SCHEDULE OF THE MLS RULES AND REGULATIONS FOR MORE INFORMATION
For each of the violations below, the subsequent fine schedule applies:
$100 – 1st violation
$250 – 2nd violation
$500 – 3rd violation
- Failure to submit or input a new listing to the MLS within 48 hours
- Failure to report a listing “Under Contract - Not Showing” or “Under Contract -Showing” to the MLS within 48 hours of the execution of a Binding Sales Contract
- Failure to report a listing “Closed” to the MLS within 72 hours
- Failure to report a listing as a Short Sale within 48 hours
- Failure to report listing changes to the MLS within 48 hours (other than those specifically referenced in other fines)
Note: There will be a fee of $25.00 assessed to any company for removing a listing and re-submitting it to the MLS as a new listing within five days.