Metro MLS members have recently been putting language in their listings that states a specific date offers will be reviewed by sellers.
This practice creates situations where buyers have submitted offers with an accept by date before the specified date in the listing.
Although accepting an offer before the specified date may seem harmless, you remove the opportunity for equal access to the property. This goes against the spirit of cooperation in the marketplace.
Once you post a listing in the MLS, REALTORS® must honor what is detailed in the listing to ensure cooperation and equal opportunity for all.
A seller also cannot dictate or instruct a REALTOR® to go against the pre-determined listing remarks.
REALTORS® are required to remain honest in their advertising of a property. You can specify when the seller will review offers. But if you include this language in a listing, you must honor that information and not accept an offer before the specified date.
Metro MLS prides itself on offering accurate data to assist REALTORS® and effectively enhance fair housing for individuals in the marketplace.
If you have questions, please contact Metro MLS’s Data Integrity Department at 414-778-5400.