7 Rules You Must Know About Coming Soon

Coming Soon Rules:

  1. Coming Soon listings shall be entered into the MLS System within one (1) Business Days after the Listing Agreement Commence Date. Listing Agreements for Coming Soon properties must include a Coming Soon addendum signed by the seller indicating that the seller acknowledges and consents to the Coming Soon status.

  2. Properties listed as Coming Soon shall not be shown by any Members, including but not limited to the listing Participant, until the status is changed to Active.

  3. The listing Participant shall not accept nor present offers on properties listed as Coming Soon until the status is changed to Active.

  4. Coming Soon listings are automatically changed to Active status ten (10) calendar days after the seller signs the Listing Agreement, unless the listing Participant changes the status earlier. If the property is not ready for showing within ten (10) calendar days, the listing Participant must change the status to Withdrawn until it is ready for showing.

5. The days on market calculation for a Coming Soon listing shall commence once the listing is changed to Active.

6. Properties may only be listed in the Coming Soon status once per calendar year, unless the property has sold or been relisted with another listing Member within that time.

7. Listing Participants may engage in limited pre-marketing of a Coming Soon listing, provided such marketing is consistent with applicable law, identifies the listing as Coming Soon, and does not misrepresent the availability of the listing for showings.

 

MLSOK Compliance Guidelines

MLSOK Rules and Regulations

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