Reporting For Sale By Owner (FSBO) Sales

Reporting a For Sale By Owner (FSBO) sale is optional. However, in order to receive credit for the sale, it must be entered into flexMLS…

Reporting For Sale By Owner (FSBO) Sales

Reporting a For Sale By Owner (FSBO) sale is optional. However, in order to receive credit for the sale, it must be entered into flexMLS.

Start by entering the listing into flexMLS. Upload the buyer’s agency agreement (in place of the listing contract) AND a photo to the listing. Next, mark the property as sold. Once the listing has been closed, call the Metro MLS staff to change the listing agent to Non-MLS. Viola’ the buyer’s /broker agent will be credited for their portion of the transaction.

Reporting One Party Listings or Sold Information Only

You are required to report all sold listings for which the broker/agent has a listing contract to the MLS (MLS Rules Section 7.0).

If you have a listing that is either a ONE PARTY or SOLD INFORMATION ONLY you should upload the required paperwork listing contract or buyer’s agent agreement as you would with a new listing including photo.

In Public Remarks put “One Party Listing” or “For informational purposes only” .

After the listing is entered into flexMLS and given an MLS number, immediately change it to SOLD status.

a specific buyer/s for a specific property

(A property not sold in MetroMLS but buyers agent would like credit)

Seller Concessions

This is a mandatory field. When reporting sales in the MLS, the sale price reported to the MLS should be the same sale price that is reported to the state on the Real Estate Transfer Return. Do not add personal property purchases to the sold price. This is a separate transaction from the sale of real estate.

If there are seller or lender concessions they should be noted in the Private Remarks as “seller paid closing cost”.

Concessions might include down payment gifting programs, seller paid repair concessions or seller paid closing costs, for example. Any information regarding the sale of a property helps everyone to professionally evaluate each listing. It helps appraisers when doing appraisals and brokers when doing CMAs.

Please take the time to accurately report sold data