PROView - January 2009 - (Page 17) Mind Your Manners! Kat McCoy, MLS Manager Miss MLS, This is a short sale property. I’ve called on this a couple of times and spoke with the listing agent. They have multiple offers for this property and have presented those offers to the bank and are awaiting approval. However, they still have an active status in the MLS. If I must follow the MLS rules for my short sale listings, so must they! Please investigate this for me. Thanks, Over Short Sales Dear Over Short Sales, As we know, when it comes to short sales, nothing is short and nothing is easy. Per Section 5.17 of the MLS Rules and Regulations, once a property has an executed contract to purchase, signed by the buyers and sellers, it must be reported to the MLS immediately. It can be reported in one of two ways: • Active with Contract, in which case the property will continue to be marketed or • Pending, in which the marketing of the property ceases. Short sales transactions are included in these requirements. However, if a seller receives one or multiple offers and presents that offer to a bank or short sale mediator prior to signing, the offer cannot be reported to the MLS as an executed and signed contract to purchase. Unfortunately, we do not know what’s really going on until the property is reported as a violation, and I contact the listing agent. So, we all know that short sales are neither easy nor short. We can definitely say no two are alike. For more info on short sales, visit the short sale resource center which can be found in the MLS Reference Center accessible by the Tempo Sidebar. Miss MLS, I was the selling agent for MLS number 23#####. For some reason the listing office closed the property out under nonMLS agent. Please correct the listing to reflect the correct selling agent. Thank you and Happy New Year. Dear Selling Agent, A happy New Year to you! I think it is safe to say for all participants and subscribers of the MLS, reporting sales correctly and in a timely manner are of the utmost importance. However, if correct and timely doesn’t happen, it can easily be corrected. In this particular circumstance, we are working with a GTAR (Tampa) listing. The best way to prevent this is to educate agents on how to correctly enter selling agent ID numbers between our agents and GTAR agents. In order for GTAR members to report a sale under a PRO agent, the GTAR agent must enter PRO in conjunction with the selling agent’s MLS ID number (PRO######). For PRO agents to report a sale with a GTAR selling agent, we must enter the NRDS number of the GTAR Agent (NRDS number is the 9 digit NAR ID). But if it’s too late to prevent the error, the selling office can fax a status change report and a copy of the HUD to the helpdesk at 727-231-8070. Armed with the correct information, we can send notice to GTAR to have the listing corrected. PINELLAS REALTOR® ORGANIZATION January 2009 17
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