At the Honolulu Board of REALTORS® Broker Roundtable last April, there was a call among brokers for greater transparency and professionalism in the ways in which properties under contract are entered and displayed in HiCentral MLS. Brokers commented on the public's misunderstanding of the ACS and Pending statuses, which can lead to mistrust of REALTORS® and the industry. After reviewing myriad suggestions from brokers, your HiCentral MLS Board has approved revising the listing statuses with more consumer-friendly language, which will become effective in January 2017.
In Escrow-Showing (ES): Effective Jan. 12
The "In-Escrow, Showing" ("ES") status means that the contract has been accepted but you are still showing it (it will replace the ACS status).
In Escrow-Not Showing ("EN"): Effective Jan. 12
The "In-Escrow, Not Showing" ("EN") status means that the contract has been accepted but you are NOT showing it. It will replace the Pending status.
Reporting Period: Effective Jan. 12
Additionally, the HiCentral MLS Board decided to revise the reporting period for Active to In Escrow from 15 calendar days to 4 calendar days.
This ensures more accurate listing data for MLS subscribers, clients and consumers.
Will there be a "grace period" until agents become familiar with the reporting change?
Yes, there will be a "grace period" until Feb. 28, 2017, after which listing agents who do not update their properties' status within 4 days will be subject to fines.
What happens if an agent misrepresents a listing status?
Agents who misrepresent the listing status of their properties will be subject to a violation of the MLS Rules & Regulations and NAR's Code of Ethics.
What should I do if I discover that an agent is misrepresenting a listing?
Agents and members of the public who discover that a listing is being misrepresented will be encouraged to report it to both HiCentral MLS and HBR's Professional Standards Administrator.