MLS Information 

Active is a listing status where the property is on the market and available for showings.  There are “subtypes” available for the active status which are selected via a drop down menu.  They are:

▸ Under Contract Continue to Show subtype is required if after a contract has survived attorney review the seller gives written direction to continue showing the property seeking backup offers.

▸ Attorney Review subtype is required if a seller is continuing to show the property during the Attorney Review period.  This subtype must be removed within one business day after the contract survives attorney review.  Once this subtype is removed, status must be changed to one of two options.

1. To subtype Under Contract Continue to Show; or

2. To the Pending Status

Coming Soon is a listing status for an active listing that cannot be shown, by anyone, not even the listing agent while in the Coming Soon status.  It is a property that will be coming on the market in the Active status with full cooperation within 7 calendar days.  

▸ Cannot be in this status for more than 7 calendar days.  This status can be reduced but cannot be extended past the maximum 7-day period.  The status will be automatically changed to Active once the coming soon status expiration period is reached. 

▸ The public remarks section must begin with “This is a Coming Soon Listing and cannot be shown until _____.”  This language must be removed by the listing agent once the status is no longer Coming Soon.

▸ Adverting.  It can be advertised and marketed provided that the marketing material prominently states that the property is a “Coming Soon Listing” and can’t be shown until (the date entered in the MLS as the Active date).”

▸ Coming Soon statuses cannot be changed to the pending status.  They must be changed to Active status prior to being reported as Pending (Under Contract).  

Pending is a status which reports that an offer has been accepted, and the listing is no longer on the market or available to be shown.  An active listing must be changed to this status within 1 business day of surviving attorney review.  This status may be used when a property enters attorney review, provided the seller has give written direction to do so.

Closed is used when the purchase agreement or lease has been fully executed/fulfilled.  

Cancelled.  The listing agreement has been terminated (voided) unconditionally.  The seller may list the property with another broker.  

Withdrawn.  The property has been withdrawn from the market and the listing agreement remains valid until the expiration date contained therein.  This was once know as an “Conditional Withdrawal.”  No other broker can list the property, nor can it be sold by the seller without paying the commission specified in the listing agreement.

Temporarily Off Market.  The listing is temporarily off the market, not being advertised or marketed in any manner, no showings, and there is an intention to return the property to the Active status.

Expired.  The Listing Agreement has reached its termination date.  

All status changes must be reported within 24 hours after they occur.

General

Listings must be submitted to the MLS within one business day.  

Prohibited Practices:

• Public Remarks:  Company, agent & seller personal information (contact info, etc.) open house info, links to websites and show instructions are all prohibited.  

• Branded virtual tours or photos (includes photos containing a yard or window sign)  

• Pictures containing people.

Changes to the Listing Agreement.  Any change to the original agreement must be in writing from the seller/s and the changes must be entered into the MLS system within 24 hours (excepting weekends, holidays and postal holidays).  

Clear Cooperation:  Within one business day of marketing a property to the public, the listing must be submitted to the MLS for cooperation with other participants.  This means that any company/office exclusive listing cannot be marketed/advertised (including a yard/window sign) in any manner.  Fine 1st offense is $1000, escalation for repeat offenses up to $15,000.  

Exclusive/Non MLS Listings.

• Listing Agreement, Office Exclusive Rider/Waiver of Broker Cooperation must be submitted to the MLS system within 24 hours.  Property cannot be advertised (by any means) to the public.  

Status Options 

• Hold: Listing Agreement exists, property is completely off the market and not allowing any showings or marketing.  With the exception of new construction, the listing must be changed from “Hold” to either withdrawn, coming soon or active within 30 calendar days.  Properties in a hold status can be viewed at: www.monmouthoceanrealtors.com/pages/holds

• Coming Soon: The property cannot be shown by anyone and must be on the market with full cooperation within 7 calendar days.  The public remarks section must start with the phrase “This is a Coming Soon Listing and cannot be shown until (insert date).”  Providing the listing agent has not changed the status, once the 7 day limit is reached, the MLS system will automatically convert the listing to the status of Active.  Listings in this status will be syndicated to the internet and IDX feeds. Listings in this status may be advertised provided the advertising prominently states that the property is a Coming Soon listing and states the date that the property cannot be shown prior to.   This status cannot be changed to Pending, it can only change to Active or Pending under contract.  

• Pending:  An offer has been accepted and the listing is no longer on the market or available to be shown.  If a seller does not want the property to be shown while an offer is in attorney review, then the correct status is Pending.    

• Active: The listing is on the market and available to be show.  

• Sub Type - Attorney Review: Used if a seller desires the property to be shown and advertised on the internet during the Attorney Review period and must be updated within one business day after the contract emerges from attorney review (to either active/back on the market or pending).  

• Sub Type - Under Contract continue to Show.  This status is used when a contract survives attorney review and the seller has directed the listing agent, in writing, to continue showing the property (i.e. a home sale contingency situation).  Whenever this sub type is selected, the listing agent must enter as the first enter in the public remarks “Under contract continue to show.”  Remove this remark when the status changes.

• Closed:  Once the purchase agreement/lease has closed, the listing must be changed to this status within one business day thereafter.  

• Cancelled: The listing contract has been terminated/voided (unconditional withdrawal).

• Temporarily Off The Market.  The listing is off the market and not being marketed in any way.  When a property is in this status, it is no longer syndicated to the internet or IDX as for sale.  Uses:  

1. 1Remove a property (with the seller’s written approval) from the market while the property is in attorney review. 

2. Whenever the property is not available for showing during any period of 72 hours or greater. 

3. When the listing has been withdrawn from the market but the listing agreement remains in force until the expiration date (a conditional withdrawal).  When it is not anticipated that the property will return to the market during the term of the listing agreement, the first entry in the agent remarks must state “this property meets the definition of Withdrawn.”  

• Expired.  The unextended expiration date stated on the listing agreement has been reached.  

Back on the Market: Listing agent shall report immediately the cancellation of any pending sale and the listing shall be reinstated immediately. 

Other Significant Rules

Showing and Negotiations: Appointments for showings and all negotiations with a seller shall be conducted through the listing broker except under the following circumstances:

1. The listing broker gives documented consent to show/negotiate directly; or

2. After reasonable effort, the cooperating broker cannot contact the listing broker or their representative; however, the listing broker may preclude such direct negotiations (MLS Field “Negotiate/LB” checked).

Presentation of Written Offers: The listing broker must make arrangements to present offers to the owner within 24 hours of receipt of the offer by their firm.  

Right of Cooperating Broker in Presentation of Offer.  Provided the seller/lessor has not provided written instructions to the contrary, the cooperating broker (buyer/tenant side) has the right to participate in the presentation of any offer secured to purchase or lease.  The agent does not have the right to be present at any discussion or evaluation of that offer by the seller or lessor.  The cooperating broker has the right to a copy of the seller’s or lessor’s written instructions.  None of the foregoing diminishes the listing broker’s right to control the establishment of appointments for such presentations.  Where the cooperating broker is not present during the presentation of the offer, the cooperating broker can request in writing, and the listing broker must provide, as soon as practical, written affirmation stating that the offer has been submitted to the seller, or written notification that the seller has waived the obligation to have the offer presented.

Dual or Variable Rate (VRC) Agreements: This is a situation in which the seller/landlord agrees to pay a specified commission if the property is sold/leased by the listing broker/agent (selling side) and a different commission if the sale/lease results through the efforts of a cooperating broker.  This must be disclosed to the MLS.  

Enhanced Photos: Article 12 of The Code of Ethics states “REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.”  While changing a dark sky to blue is probably ok, making a material alteration is not ok. 

Public Remarks: No personal information or advertising, including showing instructions, open houses, email addresses, phone numbers.  

Clear Cooperation is a policy set forth by NAR that requires a listing to be put in the MLS system within 1 business day of marketing the property to the public. Does Clear Cooperation only apply to certain property types? No. Clear Cooperation applies to all property types that are in the MLS system. 

Within 24-hours of public marketing of any property, regardless of the marketing format or platform, the marketed property will be required to be entered into the MLS system in which there is participation.

Applies to all listings with any public-facing advertising including:

• Social Media & any digital marketing

• Website Promotion

• Yard Signs

• eMail Notifications

• Flyers

• Any method available to any member of the general public

MORR/Flex MLS changing rule for entry of all listings from 48 hours to 24 hours.

Fine for non-compliance:   1st offense $1000.   Repeat offenses – up to $15,000.