NEW MLS LISTING STATUS: DELAYED ENTRY STATUS
The new Delayed Entry status was created in the MLS so an agent can secure their listing agreement with their client even when the client, or the property, are not ready for advertising. This could include Seller(s) being out of town, needing to get repairs made, etc. Listing agents can delay the live date of a listing, with the Seller(s) signed consent, with a 30-day cap and option to renew the Delayed Entry Status. Days on market will not count in Delayed Entry and will not be publicly searchable.
During this status period, no showings may be scheduled and the listing agent may not market the property. The Seller consent form will include language that explicitly states that the seller and agent have a signed listing agreement and are therefore in a formal listing agreement. The Seller(s) will be made aware that any inquiries from other agents must be directed to listing agent so as to not violate the Code of Ethics.
The listing will automatically turn to an ACTIVE status on the date provided on the Seller consent form. Once in ACTIVE status, the listing agent may move the listing to a Withdrawn status with their Seller(s) consent. The Delayed entry status may be extended or ended early with the Seller(s) consent via a new signed or amended and initialed Delayed Entry Form being submitted to MLS staff. The consent form will be required at the same time the MLS Property Validation Form (formerly called the Property Change Report) is sent in to MLS staff.
How It Works:
- Agent will sign Exclusive Right-to-Sell agreement with their client obtaining all necessary signatures. At this time, the Seller Delayed Entry Authorization form will also be filled out, date for active status written in and be signed by the client. Both the authorization and validation form must be signed by the seller and either the listing agent or broker ONLY. The office manager can’t sign this form. Both of these forms must be submitted to the MLS within 72 hours of the listing agreement being signed (not the entry date) to be in compliance with MLS rules.
- The listing agent, or authorized admin, will enter the listing according to current MLS policies into the MLS system within the 72-hour time frame and leave it as an incomplete listing. They will then send the Seller Delayed Entry Authorization form to the MLS staff along with the MLS Property Validation Form. When saving a delayed entry status to incomplete the listing must have all required fields entered prior to the MLS receiving paperwork.
- Agents and admins can edit delayed entries. Agents will not be able to edit the active date, listing date and will not be able to change the status of a delayed entry listing. Agents will not be able to add documents to a delayed entry until the listing goes live.
- Once MLS staff has received the forms, the MLS staff member will place the listing in the Delayed Entry status.
- The Seller may not reference listing Agent, Broker, or Brokerage name in any marketing publicly. Agents can’t market the property in any way. Property can’t have showings prior to the listing becoming active in the MLS.
- When the Active Date listed on the Seller Delayed Entry Authorization form is reached in the MLS, the property will automatically turn to an Active Status and Days on Market will begin. Delayed entry listings go active on the date specified at 12:45am.
- Prior to the Active Date being reached, the listing agent or broker may extend or end the Delayed Entry status period by submitting an updated Seller Delayed Entry Authorization form signed or initialed by the client and turned into MLS staff before the listing goes active.