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MLS Listing Status Rule Change Effective April 1

Effective April 1, 2013, the time period allowed to update a listing’s status from “Active” to “Option Pending,” “Pending Continuing to Show” or “Pending” will be reduced from five days to three days after a contract has been signed. This rule change was voted on and approved by the HAR Board of Directors in response to an increased number of complaints received from REALTORS® and consumers alike regarding listings being left in the active status after a contract has been accepted and executed. Timely reporting of status changes to “MLS” is very important to give an accurate display of the current status of the listed property.

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  • Kim

    My husband and I put in an offer and it was accepted 4 business says. The status on the home is still available. My agent has asked the sellers agent to change it. However, nothing has been changed. It makes me think they are waiting to see how bad the inspection will go and/or waiting on another offer.

  • Margaret Matarazo

    What about those agent who do not even put in option pending to avoid disclosure if contract does not survive the inspection? happens all the time.,,

  • Mike Rosa

    This is great, but what about after the deal has closed? I have a house that closed over a week ago and still shows as PSHO. My clients see this on HAR and insist they want to see it. Can’t show it to them. They think I’m the problem. Listing agent won’t make the change.

    • Nathan_Goble

      Good Afternoon Mike,
      After the deal has closed/funded, then they have 5 days to report the sale. After that, they are in violation of MLS Rules. If you would like us to look into the matter, please email me the information to: Nathan@har.com. If you have any questions, please let me know.

      Regards,
      Nathan Goble
      Quality Assurance Manager/Project Manager
      Houston Association of Realtors
      Nathan@har.com

    • Tee

      What is PSHO status?

  • J. Tate

    Our hands are literally tied when it comes to comes to closing a distress/foreclosure property. I once sent in a EMC to the bank in January and closed the deal in late April.(It drove me crazy, as well as my buyer). They kept asking for data they kept losing! We have no control over what the banks do after we give them a contract. They have us going through so many loops before we get to the closing table. You may want to see if we have get the banks to abide with our MLS rules, and time constraints.

  • Evelyn

    I personally am happy this is taking place because it being abused you have Realtors that have closed on properties that are showing Active. Please gas is to high to waste on a showing something that is sold. Prime example called on a property today and it has been leased out the Realtor is out of town but has it as Active to Buy.

  • Yvonne Simmons

    I think it should be within 24 hrs- just had 2 properties no longer available but was showing active- one updated when I sent an appointment request- the other one is still active but the appt was denied by seller. Upon calling the listing agent was told it was denied because they already have a lease. Now my client is skeptical and wondering why these properties are now unavailable. It makes my job harder to explain this to the consumer.

  • an agt in Texas

    I’ve got 1 right now that is now “sale pending” and the listing agt still hasn’t even put it thru the option period nor “P” at this time. I have told her twice but these part time agts do this too because they don’t take care of their business; after all, they have another full time job

  • Ken Manee

    Those with foreclosure listings will just say they have not received a fully executed contract back from the company yet. I have run into this several times. They are told to leave them active until they have the contract in hand. That can take up to 2 weeks and then sometimes they leave them in active status until loan approval. I hope this helps, but I don’t see them abdiding by the rules

    • Irene Pence

      It is very true that an accepted offer on a foreclosure may take several days to 2 weeks to get a Seller signed contract returned to the LA by the REO Seller, this is unavoidable. But the LA can, and should, indicate in Agent Remarks that an offer has been accepted pending final execution as a courtesy to Agents, just as notice of Multiple Offers and HB offer deadlines should be indicated in Agent Remarks, or offer accepted in typical resale transactions. This would assist Buyer Agents and alleviate a lot of phone/email inquiries regarding availability to the LA. Just simply good business practices. Having represented both REO Sellers, Resale Sellers and Buyers of both inventories, this is the single most valuable suggestion I can offer in this limited inventory market, make the status known to alleviate work on both sides of the isle. Notwithstanding this suggestion, BAs on REOs will need to be patient waiting on a response; you are dealing with National Banking and Federal Institutions, it is what it is, they work as fast as they can I assure you. They have Thousands of offers, not hundreds or dozens of offers, to respond to and evaluate. In the end, it’s rewarding; stay the course.

      • Stuart Scholer

        Thanks for those suggestions Irene. I too greatly appreciate it when Listing Agents use “Agent Remarks” properly and in a relevant manner. Hey NATHAN!!! Could you suggest to maybe have an article in the HR magazine address this problem? It amazes me when I see veteran Agents copying “Physical Property Description” to the “Agent Remarks”. And I am talking about Agents with ALL of the most prestigious Brokerages in Houston.

  • Carol Humphrey

    Great! I hope the MLS Police will enforce it.

  • Rebecca Grimes

    Marvelous. Will foreclosure listings be held to the same standard?

    • Nathan_Goble

      Rebecca,
      Yes, foreclosure listings will be held to the same standard.

      Regards,
      Nathan Goble
      Quality Assurance Manager
      Houston Association of Realtors
      Nathan@har.com

  • jw

    Enforcement will always be the issue.

  • Ann Jones

    Excellent!

  • http://twitter.com/BobLChristian Bob Christian

    multiple?

  • alan morlan

    I approve!

  • http://twitter.com/LillyRealtor Lilly Hughes

    Thanks, but I’m not sure how that is going to change things. Just puts in violation two days sooner.

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