We receive calls or e-mails about this every day without exception! The MLS/User Committee and the Board of Governors have discussed potential solutions and we have implemented some internal processes in an attempt to help solve this frustrating problem.

Just how important is this issue? Imagine that you are driving around with a buyer showing them homes that meet their criteria. You spent a lot of time putting the list together and mapping out your day to be as efficient as possible and to show your buyers that you are respectful of their time. You call the listing office of each listing prior to driving out to the property and they are only too happy to schedule an appointment for you and your buyer.

Now imagine that you show up at one or more of the properties only to find the new owners preparing to move in! They inform you that they are planning to close in the next few days. This listing is in the MLS as Active – why would you think it was not available? Especially since the assistant at the listing office didn’t know that it wasn’t available.

Well, this is exactly what is happening and it is a huge issue! Everyone loses in this scenario. Your buyers’ time is wasted and their view of the real estate profession becomes tainted. Even if you did everything you knew to do to make the process seamless, the experience casts doubt on the professionalism of all involved parties.

The Realcomp Board of Governors is taking a very firm stand on this issue. Effective immediately, if you are in possession of a fully executed pending, you are required to change the status of the listing to Pending within five (5) days. Failure to adhere to this rule will result in the following sanctions: $50 for the first offense, $100 for the second, $250 for the third along with an appearance before the MLS User Committee which could result in additional sanctions. Realcomp subscribers are encouraged to notify us of any potential violations of this rule. Please be assured that we will follow up immediately!

We are experiencing a very different market – we need to work together to present our industry in the best light possible! Please don’t hesitate to let me know what you think. I can be reached by e-mail  or by phone at 248.699.9120.