When Do I Have To Input New Listings Into the MLS?
Question: I have an upcoming listing. Once my clients sign the listing agreement, how much time do I have to upload to the MLS? If pictures still need to be taken, do I wait to have them sign?
Short Answer:
First of all, NEVER wait to have seller sign the listing agreement. Close the deal and land the listing as soon as you can. Second of all, these rules are set by the MLS, not the brokerage. So questions should go to your MLS for best answers.
Now, once you get the signed listing you will have 2 business days to submit it to the MLS. You may use Registered or Coming Soon status depending on how soon you will have the property show ready.
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For more information please visit: https://go.crmls.org/clear-cooperation-policy/
Long Answer:
The specific answer depends on your MLS of choice, but for the purposes of this explainer we will be using the rules for CRMLS Matrix.
CRMLS Rule 7.8 (“Mandatory Submission”) requires listing brokers to submit their listings to the MLS within two business days of the effective date of the listing contract. Previously, this meant either putting the listing in the MLS as Active or Coming Soon or filing an exclusion/waiver form. This form informs the MLS about your listing, while allowing you to keep the listing out of the MLS per your seller’s instructions.
The new Registered status in CRMLS Matrix allows agents and brokers to submit listing contracts to the MLS in compliance with Rule 7.8 without having to file an exclusion/waiver form (such as the C.A.R. SELM). Listings in the Registered status resemble excluded listings – they are neither displayed nor distributed through the MLS.
Watch this video for more on CRMLS' Registered Status:
Question: Can I publicly market the property while in a Registered status?
Question: What is considered public marketing?
Click here to chat live with a Compliance Analyst Monday-Friday, from 8:30am-4pm.
For step-by-step instructions regarding Matrix Registered Listing Contracts, click here.
For more information please visit: https://go.crmls.org/clear-cooperation-policy/
Watch this video for more on CRMLS' Registered Status:
Question: How does Coming Soon work?
The Coming Soon status allows listing brokers and agents to place a listing in the MLS for cooperation for up to 21 days (except New Construction Listings) while the property is prepared for showings (staging, professional interior photos, repairs, etc.). Because there are no showings allowed while the listing is in Coming Soon, Days on Market (DOM) will not accrue during the Coming Soon period. The listing will automatically update from Coming Soon to Active on Day 22 of the listing’s input date or on the Start Showing Date, whichever is earlier.
Question: How does Coming Soon work?
- Coming Soon can only be used for a maximum of 21 days (except New Construction).
- Showings of any kind are not permitted, by the listing broker or otherwise.
- Days on Market do not accrue while in Coming Soon.
- Coming Soon listings do not go out from the MLS in listing distribution data feeds; however, they do go out in IDX data feeds