The Listing Participant is responsible for the timely and accurate filing of sales and closing information with the MLS. A status change to “Pending” must be entered into the MLS database within twenty-four (24) hours of the contract being signed by all parties. A status change to “Closed” or “Rented” must be entered into the MLS database within twenty-four (24) hours of the closing. Cancellations of contracts shall be reported by the Cooperating Participant to the Listing Participant immediately. The Listing Participant shall enter the cancellation into the database within twenty-four (24) hours.
Steps to Correct This Violation:
Please review your listing and update it to the correct status. MLS Staff may request additional paperwork supporting status changes.
Additional Information:
According to Section 11, violation of this rule requires an automatic fine. This rule can be found in MLS Rules & Procedures Section 311.1-4, Reporting of Closings, Contracts and Cancellation of Contract.