If you're a REALTOR and you're looking for sellers (and who isn't these days!?) you know it's all about "getting the listing".
From the perspective of the MLS and the Code of Ethics "getting the listing" means getting a signed listing agreement – either a standard form Exclusive Right to Sell Agreement or some other listing agreement approved by your brokerage.
It all starts with a signed listing agreement.
Once you have the signed listing agreement you have FOUR days to put it into the MLS as either Coming Soon or Active. If the client is ready to put the property on the market, (awesome!) put the listing into the “Active” status. If you and the client agree to pursue a coming soon strategy, use the “Coming Soon” status, just make sure you know the rules and follow them. Those rules can be found here.
The FOUR days starts from the time the client agrees to have the property listed in the MLS. Many times the REALTOR and Client will state this in the Section A-4 “Listing Period” or Section A-10 “Additional Terms”. Or Brokerages may establish the list date by having the client sign a separated addendum and that’s OK too.
Subject to your brokerage's policies, Office Exclusive are also allowed. You must let the MLS know about them within FOUR days by sending a copy of the properly executed listing agreement to [email protected]. This is critical to maintain compliance with the HiCentral MLS Rules and Regulations. Within FOUR days of the sale, or if the property is withdrawn or the listing expires, just let the MLS know and we can advise as to next steps.
We hope this helps demystify the MLS Rules and Regulations a bit. We’ve attempted to simplify the process for you here, but of course, all the details can be found in the HiCentral MLS Rules and Regulations. If you have questions we’re here to help. Email us at [email protected] or give us a call at 808-791-3789!