Review of the MLS modifications

Posted on: March 24th, 2020 by Andrew Clark No Comments

In the interest of making your business flow easier and to provide a path to business continuation. Your MLS committees and Directors have met “virtually” to address some interim rule changes.

The rules changes will make it easier for you and your clients:

  1. To prepare their homes for showings
  2. To Allow more flexibility in the timing of Coming Soon Status
  3. To Allow Listings to be entered in Delayed Entry so you and your sellers can enter the listing in the MLS with no DOM counter and no penalties. (There are restrictions, so please read the changes carefully below).

Special NOTE: If your Client does NOT want to allow showings, please change its status to WITHDRAWN status. (Consult your Broker or Manager for further clarity and Broker policy)

Please know that your Board of Directors, Committee Members and staff are working hard to meet the challenges of the times and making your essential business progress as seamless as possible.

Thank you and please be safe,

Best Regards,

Kelly Meyer, President
Cincinnati Area Board of REALTORS®

 

Review of the MLS modifications:

  1. If your seller does not want to allow showings, please withdraw the property.  You will not be required to send paperwork for a withdraw.  This will also stop the DOM.  To be fair to buyers and agents trying to set showings for properties that are available, please DO NOT block showings in Showing Time.   We get complaints daily for properties that are not available for showings but are still Active in the MLS.
  2. We will extend the maximum timeframe to keep listings in the Coming Soon status from 10 days to 20 days.  This will allow other member and Rapattoni prospects to become aware of the upcoming to the market.  All Coming Soon rules must be followed (NO SHOWINGS or Presentation of Offers still apply)
  3. All new listings will be treated as “Delayed Entry” so that you and your sellers can decide the best time to enter the listing in the MLS with zero DOM and no penalties for late entry.  To take advantage of this opportunity, there are 2 requirements:
    1. No Advertising until the listing is ENTERED into Rapattoni in the Active Status.
    2. When you enter the listing, use the ENTRY date as the list date so it does not flag as a late entry. 

Example: You list a property March 23, but the seller does not want it entered in the MLS until April 6, 2020.  On April 6th, you enter the listing and put April 6th as your LIST DATE.  You do not need to send anything to MLS until April 6th.  On April 6, submit the New Listing Validation or Listing Contract AFTER you enter the listing.  No need to submit Delayed Entry paperwork prior to entry.