FlexMLS Tip of the Week: Status Changes and the 3-Day Rule
Recently a new constraint was placed in the Flex MLS system that prevents changes to a listing status beyond 3 days from the actual status change date. This constraint was put in place as a method of supporting the previously established official MLS rule under Section 2.5, which states:
Section 2.5 Reporting Sales to the Service
Status changes, including final closing of sales, shall be reported to the multiple listing service by the listing broker within 24 hours after they have occurred. If negotiations were carried on under Section 2 a. or b. hereof, the cooperating broker shall report accepted offers to the listing broker within 24 hours after occurrence and the listing broker shall report them to the MLS within 48 hours after receiving notice from the cooperating broker. (Amended 11/08)
The intent of the rule is to keep the MLS data current and reliable. It specifies that under many circumstances status changes need to be reported to the MLS within 24 hours, however an additional 48 hours can be allowable under the negotiations that are noted. With this in mind, the MLS Committee, with the approval of the Board of Directors, directed the implementation of the 3-Day Rule constraint.
We implemented this change about a month ago. During this trial period, we collected data about how often violations are occurring and under what circumstances. We have had many requests to edit listings because the three-day window had closed. Some of those requests were within a day or so of the constraint window, but many others were weeks or even months since the actual status change. In the future, flagrant or repeated edit requests may be subject to penalty.
*** Please note: Day 1 will be the day immediately following the event, with Day 0 being the event itself. For example: If a property closed on Friday, the clock would begin counting on Saturday, the third day would be Monday, and you would not be able to complete the status change as of Tuesday morning. ***
We encourage all our members to promptly submit their initial listings information and all subsequent changes of status. As always, don’t hesitate to contact Ken Watts, MLS/IT Director at the PAAR office with any questions or concerns.