*Sigh*
Here is something that for the life of me, I can not understand.
When a property “goes under contract” — ie: a offer has been made and accepted — the status in the MLS is supposed to be changed to “Pending” (or AWC — Active With Contingencies — if applicable).
There is, of course, a written rule in the ARMLS subscriber agreement regarding this:
10.7: Reporting the Sale of a Listed Property to the MLS. Within 72 hours (excluding weekends and postal holidays) of the date when all parties to the transaction have executed an agreement to purchase and sell a listed property the status of the listing must be changed to a Sale Pending status by the listing broker.
Not once, not twice, but three times in the last two days, we have called (and called, and called) listing agents to either 1) ask a question about a property; 2) attempt to show a property; or 3) submit an offer on a property.
And long after the “need to know”, we find the properties are under contract — and the listing status still shows “Active” in the MLS.
It takes, literally, 2 minutes to change the status of a listing from Active to Pending.
When we (politely) ask the listing agent why the property is still showing as Active, we are presented with these answers:
1) “Oh yeah, I forgot.”
2) “I haven’t had time to change it.”
3) “I don’t know.” (my personal favorite)
All three of these listings were well beyond their allotted 72 hour time frame for change.
Note to Bob Bemis and Gary Cumiskey: 72 hours, not including weekends and holidays is far too liberal a policy. Seriously, it takes two minutes. You get an accepted offer, you log in, you change the status to Pending/AWC. Right then and there. Surely any agent or broker out there can get to an internet connection within 24 hours (if not sooner). 72 hours, plus weekends? What is the logic behind that?
Why is it important to change the status to reflect reality?
1) It’s a complete waste of the agents, and more importantly the clients time to pursue a property that is under contract.
2) It corrupts the data. How many properties are out there for weeks in the wrong status? (and trust me, it happens. Frequently)
3) It makes us all look like bumbling, inept fools in the public’s eye.
4) It’s common courtesy.
/rant off/
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06 May 08 5:44 pm
I hear ya, Jay. I showed a property (an active listing) on May 3, customer liked it. Submitted feedback ‘customer liked it, coming back next weekend for a final comparison of top 4′. Receive an email from the LA a few hours later: ‘Mr. Seller has accepted an offer’. Next day, I check the MLS and it is reported pending with the pended date = *April 28* !! So it was sold 5 days before I requested to show it. Arrggghhhh.
06 May 08 7:52 pm
Look at the bright side Jay. At least there are people buying homes right now.
07 May 08 2:23 am
It is fun to listen all your Realtors cry about everything! This place is a sweaty locker room for unhappy, going broke, 6% percent commission Realtors!! Cry, Cry, Cry!!! Waaaaaa!
07 May 08 6:53 am
Amen, Jay.
07 May 08 7:43 am
Winer - Glad you’re amused.
Just for the record: 1) I’m not unhappy at all, I love my job. 2) I’m not going broke. 3) I grow weary of the anti-realtor crowd constant chanting of “6%! 6%!” It shows you know little of commission structures, and I *know* you know nothing about mine.
You call it crying, and that’s fine, you’re entitled to your opinion. I just find other agents wasting my clients time (and my time) and polluting the data source annoying.
Thanks for stopping by and commenting!
07 May 08 9:04 am
Jay, it not only wastes your time and the time of your client but often times the time of loan officers drawing up pre-apps and GFEs. It is annoying and it does happen. Sadly, cavalier attitudes and incompetence exist in each and every profession.
07 May 08 4:36 pm
Jay, this phenomenon seems to be occurring not just in Phoenix. I came across similar situation with status changes. Another thing that happens on listings which are Active with Contingencies, client version from our MLS shows it as active. My clients ask why some property that I said was under contract appears as active. Adds to everyone’s confusion.
09 May 08 11:24 am
And very annoying/disheartening for the real estate buyer who thought they had found their dream home and then learned that they were DENIED because there was already a contract on the house.
11 May 08 8:35 am
Jay you really expect the agent to take 28 seconds of their “busy schedule” to update the MLS. What else…maybe they could even provide accurate information including correct room sizes, room counts, flagging “bank approval needed”, and so on. Then if they really get ambitious they could even take multiple photos and add all the free ones the mls allows. Could you imagine how much better the mls systems would work.