Our Customer Care Department continues to receive complaints regarding this topic. Please remember the following regarding listings:
All listings in the MLS must be available to show. If a new listing has a delay in showings, then the listing is handled as a “Do Not Publish” listing. The profile form and the “Listing will not appear in the MLS” form signed by the seller stating when showings will begin must be submitted to the MLS.
If showings are not allowed for a period of time during the period of the listing, then the listing must be conditionally withdrawn until showings begin again. A conditionally withdrawn listing is still under contract with specific conditions but not currently being marketed and will expire on the expiration date of the contract.
DO NOT PUBLISH (“COMING SOON”) LISTING FAQS
With today’s market becoming more and more competitive, Do Not Publish (AKA “Coming Soon”) listings have become a regular topic of discussion at the MLS. To help better understand these listings as they relate to your MLS rules and policies and REALTOR® ethics, we have provided the following FAQs and NAR resources for you.
Q: What is a “Coming Soon” Listing?
A: In our market, it seems “coming soon” listings are either properties that have been listed and are not yet available for showing and/or purchase for a specific period of time or they are properties that have not yet been listed.
Q: Doesn’t Realcomp require that all Michigan properties listed by a Realcomp REALTOR® be submitted to the MLS within 48 hours of all necessary signatures being obtained?
A: Yes. If the listing is not submitted to Realcomp within the 48-hour timeframe, any one of the following fines may be assessed to the Listing Agent:
- Late Listing starts at $37.50 & goes up to $500 plus an appearance before the MUC
- Failure to submit a listing profile form is $75
- Failure to submit a do not publish is $25
Q: What if a Realcomp Subscriber takes a “Coming Soon” listing? Are they required to submit it to Realcomp and make it available for showings/offers?
A: Technically, “yes”. However, if the property can’t be shown (i.e. Homeowner signs the “Listing Will Not Appear in the MLS” form), it can’t appear in the MLS. It must be conditionally withdrawn from the MLS. If the listing is never submitted to the MLS in the first place, Realcomp still requires a copy of the listing and the seller signed instructions, which keep the Listing Agent from being fined.
Q: What if a Realcomp REALTOR® decides to market a property (outside the MLS) without a listing contract?
A: Without a listing contract, there is “no listing” – they have no exclusive right to sell that property. Additionally, that property is fair game for solicitations from the REALTOR® community.