When the new Bright MLS was introduced to our Association, so too were some new listing statuses which hadn’t been previously used in our geographic region — ‘Coming Soon’ and ‘Exempted Listings’. I have talked to many managers and agents since Bright’s inception, and there continues to be confusion with their proper use.
‘Coming Soon’ listings are properties with a signed listing contract and entered into Bright where the listing agent has been directed by the seller to NOT show the property for a specified period of time (maximum being 21 days). This showing prohibition applies to co-op agents, your company’s agents and their listing agent. Agents do not have to get anything special signed by the seller to enter the property into Bright as a ‘Coming Soon’ listing, although it would probably be advisable to add a clause to the listing contract indicating the seller’s intent to select this status for a specified period.
‘Exempted Listings’ are properties with a signed listing contract and NOT entered into Bright. Listing agents MUST have a form signed by the seller entitled ‘Waiver of Broker Cooperation’ and submitted to Bright within three business days of taking the listing. You can download this form by clicking here. Exempted listings may be shown by the listing agent, your company’s agents or co-op agents; however, access to the property for showings is not guaranteed and is at the seller’s discretion.
Just because these statuses exist in Bright does not mean that an agent’s broker approves of their use. Prior to presenting these listing status options to a seller, agents should consult with their broker for guidance.
For further clarification on these statuses and other questions regarding Bright MLS, click here to download a copy of the latest Rules and Regulatoins.
Tom Blefko, ReMax Pinnacle
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