Listing Status Question
9,450Can anyone tell me what the exact rules are, if any, that agents are required to follow for updating statuses of properties on HAR?I am an active investor, and am constantly looking at active listings.I put offers on currently active properties, and am finding more and more that the properties are already under contract, or a few yesterday that I submitted, the properties were already sold....but the listing on HAR still showed these properties as active (not pending, option, etc, but ACTIVE).This is quickly becoming a huge time waster for me of looking at properties that show as active, when in fact, they are already under contract or even sold.Any input into the actual rules that are supposed to be followed would be much appreciated.Regards,Mike
10 answer(s)
About 9 years ago
I usually receive multiple offers on my listings, so most agents will text or email and ask me what the current status is before showing the house and again before writing an offer. Once I have an executed contract, I am very quick to change the status in the MLS so everyone knows we have a contract. Some agents will wait a few days for checks, but I disagree with that mentality.
Like (3)
Dislike (1)About 9 years ago
Frustrating isn't it? It is just as frustrating for us agents but the facts are that we can not remove it from the market until everything has been completed and sometimes that takes a few days.
I never show a property without calling the listing agent first to make sure it is still available. If you are not working with a Realtor than I suggest you do and save yourself some time.
I never show a property without calling the listing agent first to make sure it is still available. If you are not working with a Realtor than I suggest you do and save yourself some time.
About 9 years ago
Good morning, Mike! I have come across this issue on occasion, and if it is a listing in the MLS, the best way to address it is to report the violation to HAR.
However, if you are looking at sites like Zillow, they unfortunately do not always update the information as often most would like.
If you are looking for investment property in the South/Southwest area, I would be happy to assist you!
Best wishes!
Andrea Usanga
REALM Real Estate Professionals
(832) 577-4602
ahinckson@yahoo.com
However, if you are looking at sites like Zillow, they unfortunately do not always update the information as often most would like.
If you are looking for investment property in the South/Southwest area, I would be happy to assist you!
Best wishes!
Andrea Usanga
REALM Real Estate Professionals
(832) 577-4602
ahinckson@yahoo.com
About 9 years ago
There are rules for displaying the correct listing status in a timely manner, and fines associated with violating these rules. The way to clean up the MLS and keep it accurate is to submit the MLS numbers of listings displaying incorrect status to HAR's MLS dept.
To avoid wasting your time, and to insure you are able to snatch up great investment properties before someone else, it is best to work with a buyer's agent with skill and experience working with real estate investors. Real estate investing is a fast-paced arena! Nothing is more frustrating than "chasing" the market and losing out on prime properties to other, represented, investors!
It is in your best interest to review resumes, check credentials and experience, and hire a full-time Realtor who will vet out the available properties and negotiate the terms of the contracts for you.
I wish you much success.
vm
To avoid wasting your time, and to insure you are able to snatch up great investment properties before someone else, it is best to work with a buyer's agent with skill and experience working with real estate investors. Real estate investing is a fast-paced arena! Nothing is more frustrating than "chasing" the market and losing out on prime properties to other, represented, investors!
It is in your best interest to review resumes, check credentials and experience, and hire a full-time Realtor who will vet out the available properties and negotiate the terms of the contracts for you.
I wish you much success.
vm
About 9 years ago
Hi Mike,
I think that James explained it well. It would probably be best for you to work with an agent, who works with investors and that will handle the legwork on your behalf. It is best to have the listing agent contacted to check the status, prior to sending an offer. I hope that this helps.
I think that James explained it well. It would probably be best for you to work with an agent, who works with investors and that will handle the legwork on your behalf. It is best to have the listing agent contacted to check the status, prior to sending an offer. I hope that this helps.
About 9 years ago
Hi Mike,
The best way to avoid wasting your time is to work directly with an agent that knows the market. They typically know how quickly homes are sold and how to best communicate with the listing agent to avoid wasting your time.
Good Luck!
Dori Lacamu
Broker Associate
Keller Williams Metropolitan
281-788-0495
DoriLacamu@kw.com
The best way to avoid wasting your time is to work directly with an agent that knows the market. They typically know how quickly homes are sold and how to best communicate with the listing agent to avoid wasting your time.
Good Luck!
Dori Lacamu
Broker Associate
Keller Williams Metropolitan
281-788-0495
DoriLacamu@kw.com
About 9 years ago
Mike, HAR does provide rules to the Realtors who use their MLS system (see link). Essentially, the requirements are to make changes to MLS status within 3 days of a signed contract or closing. Realtors who fail to follow these rules are subject to a $100 fine, but I'm not aware of how these rules are monitored. I suspect that if you have a complaint in this regard, you should call HAR's offices to register your complaint (713) 629-1900.
That doesn't diminish your frustration, but at least addresses your question. As with the other Realtors who have responded, I have gotten in the habit of confirming availability before showing or writing any contracts. Good luck.
That doesn't diminish your frustration, but at least addresses your question. As with the other Realtors who have responded, I have gotten in the habit of confirming availability before showing or writing any contracts. Good luck.
source:
http://www.har.com/mls/TopMLSRulesRemember.pdf
http://www.har.com/mls/TopMLSRulesRemember.pdf
About 9 years ago
I agree with Jodi that agents may have an accepted offer, but need to wait until all signatures are executed before changing the status in the MLS. In this seller's market, as an agent, I call or email agents regarding the status of their properties to not waste my clients time even before showing and definitely before making an offer. Those that are listed "pending continue to show" may indeed have a contract but the seller may be looking for back up contracts. I have not run into issues with homes listed as Active that are sold in HAR, although I have had clients find such homes on 3rd party sites. Most agents will change status in the MLS as soon as they can to keep it accurate.
About 9 years ago
Sometimes they have paperwork signed, but don't have checks. I wait until I have everything in and then I change the status. However, I never change it until I have every single signature and money delivered.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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