Realtor Initial Contracts, Deal Writing, and More

Curriculum

11 Sections
91 Lessons
10 Minutes

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Failure To Report Pending Sales

FLAG TO PEND: Are you attempting to schedule showings and are becoming frustrated by the number of unreported pending sales? If so, you will be pleased to know that you can know “flag” these listings by simply clicking on the link provided to submit an anonymous report to the MLS. The MLS will immediately follow-up with the listing agent.

As reminder, pending sales must be reported to the MLS within 3 days from the date that the offer has been accepted (which is further defined as the date in which the buyer and the title holder of the property have agreed by signature on a purchase agreement. Yes, this includes short sales!). Failure to report pending sales in accordance with the MLS Rules & Regulations will result in penalties.

This policy is specific to GRAR, though its good practice to do it regardless of which MLS or Board you belong to. Each Board/MLS has its own rules which are similar to this, so be aware of your MLS’s policy. In the meantime, we recommend you mark properties pending within 12 hours of the property going pending, but no longer than the maximum amount of time allowed by the MLS you belong to. Please be cognizant of fellow realtors showing property that is pending and not yet marked pending, be sure to make a courtesy call/text and let them know the property is pending but not yet marked pending prior to their scheduled showing.

67 Words to exclude from listings

Realtor Initial Contracts, Deal Writing, and More

Curriculum

Failure To Report Pending Sales

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