August's MLS Quick Tips Recap
Here are August's MLS Quick Tips:
Seen this before? Don’t panic! This is only a courtesy notice to let you know that you did not mark it sold within 72 hours. Only when this is habitual will the system prompt a fine.
A Listing Participant shall report to the MLS any change in the status of a Listed Property, including final closing of sales and sale prices, within seventy-two (72) hours after such change of status occurs. ~NTREIS MLS Rules and Regulations Section 8.08
Will a Coming Soon status impact Days on Market once the property is Active?
No. Coming Soon will not accrue days on the counter for DOM or CDOM.
* Remember when placing your property in Coming Soon status, you must leave the Showing information blank. Check out this video for more information: https://www.youtube.com/watch?v=BDbbbnWeubU
A fine can be issued for leaving your listing in Active Option beyond the Option Expiration date. As soon as you receive a notice like this one below, head to your listing and update your status to reflect the state of your contract with your client. Doing so will correct this violation.
If you change the status of a listing to the Withdrawn status and attempt to relist this property before it is expired, you will receive an error message “This listing is a duplicate of another listing”. Withdrawn status is under conditional release, which restricts the property to be relisted until it has expired. To fix this error, you will have to cancel the original listing and then relist.