From Coming Soon to Closed
Updated: Feb 5, 2021
Now that we have fully launched our new Super-Regional SFARMLS system, we can start to empower Agents to do more, and do it faster than ever before.
With this new system we can combine our rules for Coming Soon with our rules for "Comparable Sale Only" listing entry to provide you with a streamlined process for handling this important situation.
If you have a listing in Coming Soon, and that listing receives an offer, you are obligated to present that offer to your seller. Should that become an accepted offer, you are now faced with either cancelling the listing (which was typical practice prior) or using this new process for accurately and privately recording the sale in the MLS.
Our new “Sold Off-MLS” status is specifically designed for recording listings in the case it was Coming Soon (or, a rare Office Exclusive). While traditional "Comparable Sale Only" rules allowed for up to 30 days, and we will honor that, you are also required to ensure that relevant status information is updated in the MLS within 3 days of any change. So, you should plan to make this change to your Coming Soon listing within 3 days (as you would with any other listing you close).
Here are the steps, followed by a visual walk through:
Step 1 - Revise Status Information
Step 2a - Set "Sold Off MLS" Status
Step 2b - Set Pending Date and Close Date
Step 2c to 2f - Set Closing Details
Step 3 - Save Your Listing
Remember that the process of leaving CS status is 100% non-reversible. Be careful when you're editing any Coming Soon status listing, as the MLS can NEVER RETURN A LISTING BACK TO COMING SOON (but we can show you how to use the Hold status if this happens to you).
Sold Off-MLS listing information is not included in general purpose data feeds and is never meant to be displayed publicly. We currently do not include Sold Off MLS data in feeds to vendors and are very slowly working through specific implementations case by case to make sure the data isn't accidentally released. Statistics products (such as InfoSparks/Market Stats) and data recording products (such as REALIST) are examples where this data is appropriately included.