Compliance Corner- Hitting the benchmarks throughout your listing's life

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.

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Compliance Corner #57

June 17, 2022

Enter when?  Show when?  Upload when?  Change when?

A quick guide to hitting the benchmarks throughout the life of your listing!

ENTER WHEN?

• All listings must be entered into Matrix within 48 hours of the listing start date unless the client has instructed the listing to be Delayed.
• When a Delayed Entry Form is in place, the listing must be entered within 48 hours of the Delayed Date.
• Coming Soon Listings must be entered upon the start of the Coming Soon Period.  A Coming Soon listing must be in Matrix BEFORE any marketing can take place.

SHOW WHEN?

• All listings must be available to be shown within 48 hours of activation in Matrix unless the listing is activated from the Coming Soon status. In this scenario, the listing must be available to be shown the day it changes from COMING SOON to ACTIVE.

UPLOAD WHEN?

• The Listing Agreement or Listing Agreement Compliance Certification needs to be uploaded within 24 hours of the listing’s entry as Active in Matrix.  If a Delayed Entry Form is also present, this form should be scanned along with the Listing Agreement and uploaded within those first 24 hours.
• The Coming Soon Addendum, required for all Coming Soon Listings, must be uploaded BEFORE the listing can be saved as COMING SOON.

CHANGE THE STATUS WHEN?

• Status changes, including final closing of sales, shall be reported within 24 hours, excluding Sundays after they have occurred. (NOTE: reporting UC, UC-CTS and CLOSED are not dependent upon the receipt of earnest monies or commission checks). 

The Compliance Team values your opinions, comments and suggestions!!!

Never hesitate to contact us at compliance@smartmls.com or 203-750-6000!