Coming Soon Status
New form:
Coming Soon Status Seller Authorization -
view here
Explanation:
- Coming Soon status indicates that the listing brokerage and the seller are preparing the property for sale before the property is available for showings.
- There must be an active listing agreement and must have seller approval of the status with a Coming Soon Seller Authorization Form.
- The property may only be Coming Soon status for up to 21 days.
- No showings are to be allowed while in Coming Soon status.
- Listings in this status will be visible to members only and not disseminated to syndicated or IDX sites until it is marked as Active Status.
MLS Rule: Section 1.23 - Coming Soon Status
:
a.
If a seller has authorized her/his listing broker via their listing agreement to advertise her/his property as a coming soon listing while seller and listing broker prepare the property for sale and showings, then the MLS Participant shall enter the listing in the MLS database in accordance with Section 1 – Listing Procedures utilizing the “Coming Soon Status" in accordance with these rules and regulations.
b.
A listing may utilize the
"Coming
Soon Status" for a limited period of
time,
not to exceed
twenty-one
(21) days. Listings with a “Coming Soon Status” will automatically convert to “Active Status” after twenty-one (21) days. Alternatively, the listing broker may change the “Coming Soon Status” to “Active Status” at any point prior to the expiration of the twenty-one (21) days, (i) if seller instructs her/his listing broker that the property is ready for “Active Status” and ready to be shown to prospective buyers and other MLS participants and subscribers; or (ii) on the agreed upon marketing date set forth in the listing agreement.
c.
A listing is only eligible for “Coming Soon Status” when initially input into the MLS database. Once a listing has changed from “Coming Soon Status” to “Active Status” it may not revert back to the “Coming Soon Status.” Listings entered in any other status are not eligible to be switched into the “Coming Soon Status.”
d.
Upon entry of a listing that will utilize the “Coming Soon Status,” the listing broker must upload a copy of the seller signed
“Coming
Soon Status Seller Authorization
Addendum.
" The addendum must be uploaded to the document section of the MLS and marked private at the time the listing is input into the MLS.
e.
Listings in the “Coming Soon Status” are displayed in the MLS system only and are not eligible for inclusion in MLS’s advertising data feeds (i.e., third-party websites, brokerage public advertising (IDX), or display on MLS’s public-facing website). Listings utilizing the “Coming Soon Status” are not eligible for showings or open houses. While the property is in the “Coming Soon Status” the property may not be promoted or advertised in any manner other than as a “coming soon” property. MLS Participants are permitted to share listings in the “Coming Soon Status” with their clients through the MLS system.
f.
Any showings or open houses of properties utilizing
the
"Com
ing
Soon Status" status prior
to
the listing becoming active will result in an automatic fine of $1,000
to
the
MLS Subscriber and the broker will be notified of the violation
for a first
v
iolation.
A second violation will result in a $3,000
fine
to both the MLS Subscriber and
the
MLS Participant (
Broker
). Additional violations of this rule are subject to potential suspension or termination of the MLS Subscriber’s
MLS
privileges in accordance with Sections 7 Non-Compliance with Rules and 9 -Enforcement of Rules or Disputes
.