A one-party listing is where a seller engages an agent in representing them when it comes to a specific buyer or when providing transaction services for a buyer on an unlisted property.
Metro MLS members must enter a one-party listing into Flexmls within 10 days after the sale of the property. Members can only enter one-party listings into Flexmls after it has closed.
To enter a one-party listing into Flexmls, you simply follow the standard procedures for adding a listing. You must include a main exterior photo of the property and upload a listing contract. If no listing contract is available, you may use the buyer agency agreement instead.
In the Public Remarks section under the Add Listing’s Main Fields tab, you need to include the phrase, “One-Party Listing – Comp Purposes Only.”
After you enter the listing into Flexmls and receive an MLS number, be sure to change the status from active to sold immediately. Initially, the agent involved in the transaction will be listed as the listing and selling agents. The agent should contact Metro MLS to change one to non-MLS based upon the party you represented.
Metro MLS offers an instruction sheet on entering For Sale By Owner properties, one-party listings and property sold outside of Metro MLS into Flexmls. You also can enter listings consisting of a non-Metro MLS agent as the selling agent into Flexmls for comp purposes.