Considering the changes to business caused by the Coronavirus, the multiple listing service (MLS) has decided to implement new status definitions ahead of schedule, effective 4/1/2020. 

Ironically known as the "Clear Cooperative Policy," this is now implemented to comply with National Association of REALTORS standards.  Home sellers now have the choices of marketing their home under Active, Coming Soon, Withheld, Hold, Withdrawn, or Cancelled statuses.  These listings must be available in the local multiple listing service (MLS) within five (5) business days of the seller signing a listing contract with a real estate broker.

Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants.  Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.

Buying a home can be a high stress time and it feels even more stressful when you don’t understand the lingo being tossed around. From abbreviated words in listings to acronyms used by real estate agents and loan officers, sometimes it can feel like everyone is speaking a different language.  Knowing these acronyms will keep you on the same page as everyone you are working with.

Never miss the perfect home again!

Here are a few quick ALERT tips that can make your home search much more intuitive. All you have to do is login to HomeScout and the red arrows highlighted in the images below will help you unlock these powerful features. Make sure to refine and save your Search Criteria and then turn on New Listing and Open House Email Alerts so you don't miss out when properties become available.