Did you know that when your listing has an accepted offer you must, within 2 business days, change the STATUS in the MLS to BACKUP or PENDING and enter the anticipated close of escrow date?
The anticipated close date is used to send you a “COURTESY NOTICE” 14 days, 7 days, 1 day and the final day prior to then anticipated close of escrow date. YOU MUST TAKE ACTION by doing one of the following:
- Provide a new ECOE and update the listing status as appropriate;
- Update your listing status to Sold within 2 business days after the Estimated Close Of Escrow;
- If no longer in an off-market status (i.e. Pending, Backup), remove the ECOE and update the listing status as appropriate.
If the appropriate changes are not made to your listing, a violation notice will be issued two business days after your ECOE. Note that this violation may carry a fine of up to $300.
Making the appropriate changes to the MLS is your responsibility and by not keeping information entered in the MLS up-to-date is a violation of MLS Rules and Regulations. For more information on the MLS Rules and Regulations log into the MLS and click on Links.