Recently, the Consolidated Multiple Listing Service (CMLS) expanded the status categories in an effort to give those agents with potential buyers the most accurate information when deciding what listings to recommend to those potential buyers. Prior to this expansion of categories, the listing agent had to choose between active, active contingent or pending. Often the listing agent would leave the listing as “active” even though the seller had a ratified, contingent contract because the listing agent wanted the listing to continue to go out on the data feeds (i.e., third party websites like Zillow).
CMLS expanded the categories to more accurately reflect the true status of the listings. CMLS rationed that if a buyer’s agent was advocating and possibly showing a particular listing to a buyer/client, the buyer’s agent was due accurate information about the status and availability of that listing.
Therefore, if the Seller accepts a Close and Sale Contingency contract, the Listing Agent must change the listing to Close Sale Contingency (CSC) in the CMLS. Under CSC the listing continues to go out on the IDX feeds to third parties. The listing will continue to appear as “active” on Zillow, Realtor.com, etc. This CMLS status satisfies the language in the Central Carolina Realtors Association Sales and Closing Contingency Addendum which reads, “Seller may continue to market Seller’s Property and can accept a subsequent offer that does not contain a sale and closing contingency.”
If the Seller accepts a Closing Contingency contract, the CMLS status must be changed to Contingent on Closing (CCL). The listing will no longer go out on the IDX Data feeds. The CCRA contract prohibits the seller from accepting another contract, except as a backup contract, therefore CMLS reasoned that the listing should not go out on the IDX as available when it really was not available.
In conclusion, the listing status in the CMLS system must reflect the correct contractual status of the listing. Leaving a listing as active that is under a ratified contract is a detriment to the integrity of the database, misleading to other agents and against the CMLS rules.
For a “Cheat Sheet” setting forth all of the various CMLS statuses, please consult the CMLS Forms link.
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