Compliance Corner- Current Hot Topics

Please note: this article is a snapshot of a message that was posted on the MLS system at some point within the last year.  Things evolve rapidly in our industry, and the information in this article may have changed since it was first published. Compliance Corner articles are not updated after they are published, even if the information contained within has changed.

For the most up-to-date information on this (or any other topic), please visit our SmartDesk.

Compliance Corner #35

April 7, 2021

Quick Coming Soon recap

• Pre-listing marketing tool to be used for no more than 14 days from execution of listing agreement.
• No Showings until activated in Matrix.
• No Offers can be presented to the listing agent until activated in Matrix! Buyer agent must hold on to any offers.  Do not try to present to the listing agent, they cannot entertain any.
• No Negotiations.
• No canceling and relisting during Coming Soon period.
• Must upload Coming Soon Addendum as a Private-Coming Soon supplement as well as the Listing Agreement as a Private- Listing Contract within 24 hours.
• Steep fine structure in place for non-compliant Coming Soon listings.

Delayed Entry Date= Listing Date
When entering a listing into Matrix where a Delayed Entry Addendum was utilized, the LISTING DATE is the DELAYED DATE not the original Start Date on the Listing Agreement.  Important…..using the delayed entry date starts your Days On Market (DOM) at zero!

Optimizing your Matrix Dashboard

Compliance issues are extremely time sensitive.  The sooner you know about a problem with data on your listing, the sooner you can address it and avoid potentially costly fines. Did you know that there is a widget on the Matrix home page that allows you to see if you have any outstanding compliance issues that need attention?  Let us show you how easy it is! 

On the Matrix Opening Screen……Just place your mouse cursor over the shaded title bar of the widget until the cursor turns into four headed arrow. 

Click and hold down the left mouse button, drag the widget up to a more easily visible section of your screen and release the mouse button.  It will snap into place and be a lot easier to see!  It is also helpful to drag your MY LISTINGS widget up to the top of your screen as well!

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As always, please feel free to contact the Compliance Team for additional information.  Send an email to compliance@smartmls.com or call us at 203-750-6000.

Visit the Compliance Corner Archive!  Have you ever wanted to revisit a past Compliance Corner article that is no longer available in Matrix?  Now you can.  Simply click this link or enter compliance corner in the SMARTDESK search bar and you will be able to view all past articles.