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Clarifying Coming Soon and Clear Cooperation

By Lindsey Ruschak posted 19 days ago

  

Coming Soon and Clear Cooperation Clarification

Within the last two years there have been some big changes to the MLS Rules and Regulations. Two major changes that went into effect were a new status being added; Coming Soon and Clear Cooperation Policy 8.0.

What does this mean for you? Let us take a deep dive into each… 

Coming Soon Status: Simply put Coming Soon status allows you to “pre-market” your listing through the MLS for a limited amount of time (up to 21 days) until it is ready for showings, once it is ready to be shown the listing must be changed to active status.

  • You have five (5) business days to enter your property into the MLS in Coming Soon status. IF you market the property publicly you must enter the property into the MLS within one (1) business day.
  • Marketing is allowed so long as the marketing states “Coming Soon” in this status.
  • Showings (both virtual and in person) are prohibited when the listing is in Coming Soon status.
  • Open Houses (both virtual and in person) are prohibited when the listing is in Coming Soon status.
  • Offers can be made site unseen when the listing is in Coming Soon status.
  • Listings in this status are displayed in the MLS and on MLS Participants (Broker) and MLS Subscribers (Agent) IDX (internet data exchange) websites.
  • Listings in this status are not displayed on third party syndicated websites.
  • Listings in this status comply with Clear Cooperation Policy
  • Once you and your seller determine that the Coming Soon status is appropriate for the listing you must submit the listing agreement and the Coming Soon Status Seller Authorization Addendum to the MLS (Compliancy@space321.com) within 48-hours.

More information here: https://members.spacecoastmls.com/mls-resources/coming-soon-status

 

Clear Cooperation Policy 8.0: When you join the MLS you agree to enter all of your residential listings (4 units or less), vacant lots, and residential rental listings into the Multiple Listing Service and cooperate with other MLS Participants (Broker) and MLS Subscribers (Agent) except when such cooperation is not in the customers’ best interest.  Clear Cooperation reinforces the pro-competitive, pro-consumer benefits of cooperation.

Simply put, when you market a listing to the public you are stating that the listing will be available for cooperation with other MLS Participants (Broker) and MLS Subscribers (Agent). When you market the listing to the public you have one (1) business day to enter the property into the MLS in either Coming Soon or Active status.  

  • Public marketing is considered to be:
    • Social Media (including social media groups unless they are office exclusive groups)
    • Flyers displayed in windows
    • Yard signs
    • Multi-brokerage listing sharing networks
    • Open houses
    • Digital communications marketing (email blasts)
    • Brokerage website displays (including IDX & VOW)
    • Digital marketing on public facing websites
  • Seller Exclusions are available for use for permanent (office exclusive) or temporary exclusion in the MLS. However, if the listing is marketed to the public in anyway the property must be entered into the MLS within one (1) business day.

 

Clear Cooperation Step by Step:

I have a listing and want to market it, now what?

  • I have a signed listing agreement.
    • I have five (5) business days to add the listing in the MLS as Active or Coming Soon status.
  • ALERT! Sign Goes Up on Property, Social Media Marketing, Any other Form of PUBLIC marketing.
  • Now I only have one (1) business day to add the listing in the MLS as Active or Coming Soon status.

 

More information here: https://members.spacecoastmls.com/mls-resources/clear-cooperation

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