Entering a Delayed listing

MLS rules require all non-commercial listings to be submitted to the MLS within 48 hours of an executed agreement. We recognize that this is not always possible (or practical) in today’s climate. It takes time for photos, virtual tours, staging, repairs, etc. A property may not be ready for days, weeks or even months after you have a listing agreement with a seller. To accommodate these situations, SmartMLS created the Delayed Listing.

A Delayed Listing is when a property is under an executed Listing Agreement with the seller but is not ready to be on the market. You and the seller are free to determine the date the listing will go live on the MLS (also known as the Go Active Date). In a Delayed Listing scenario, the seller agrees there will be no marketing of the property until the Go Active date and is prohibited from receiving or reviewing any offers prior to the Go Active Date. The Go Active Date can be adjusted (shortened or extended) as necessary.

To remain in compliance, you must do one of the following:

  • Complete and upload a SmartMLS Delayed Listing Form; OR
  • Enter the Go Active Date on the latest version of the SmartMLS Exclusive Right to Sell or Exclusive Agency listing contract.

You do not need to do both of these things. Just choose one or the other. 
Whichever you choose, the fully excecuted form must be uploaded to the listing while it is still in the Draft status. You will not be able to publish the listing to the MLS without uploading the necessary supplement.

 

Entering a Delayed Listing in connectMLS is no different than entering a traditional listing (one that is added to the system within 48 hours of the signed listing agreement). The most important thing to remember is that you must use the Delayed Entry Date/Go Active Date as the List Date (rather than the date the seller signed the listing agreement). This will start the Market Time clock appropriately and exclude the days between the List Date on the Listing Agreement and the Delayed Entry Date/Go Active Date, thus minimizing Days on Market (DOM).

Other than that, there are no differences in the process of entering the listing. There are no special or additional fields to complete. 

 

The Delayed Listing Form is attached to this article.

 

 

 

Related articles:

Using a Delayed Listing and Coming Soon together

Add documents to your listing

 

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