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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