REPORTING ACCEPTED OFFERS

All listings with an accepted offer must be reported to the MLS within 48 hours as either Pending or Active with Offer per MLS Rules Section 2.0. Offers with a “bump” clause (home sale contingency) do not require a listing status change, however, ALL other contingencies including inspections, mortgage approval, and any other contingency have no bearing on reporting rules and the listing must be reported as either “pending” or “active with offer”.

Understanding listing status is easy. Is the property still being shown? If YES, change the status to active with offer.

If NO, change the status to pending.

• Active W/Offer has an offer, but the seller(s) are still showing the property and are accepting secondary offers
• Pendinghas an offer, and the seller(s) are not showing the property

Additional information can be found in the Member Toolkit such as Listing Time Frames & Data Accuracy and The Path of a Successful Listing.

When reporting a listing as either Active with Offer or Pending, the date entered should be the date the seller(s) accepted the offer to purchase.

*Metro MLS recommends that when there is an offer “with a bump clause” you enter the verbiage “There is currently an offer with a bump clause allow xx for acceptance” in Private remarks.

*This rule was created in part to facilitate the disclosure required by Realtors Code of Ethics, Standard of Practice 3-6.

NOTE: Section 7.0 (10) of the MLS Rules allows for sanctions to be levied when accepted offers are not reported within 48 hours. The MLS is looking at reports that will indicate when an offer was accepted and when it was reported and levy sanctions as appropriate.