How to Change Your Listing Status:
To change the status of your property:
1. Log in to your Listed Simply Dashboard
2. Select the listing you wish to update
3. Submit your status change request by choosing the "Change Status" dropdown menu
Processing Your Status Change:
Our team manually updates the status in the Multiple Listing Service (MLS) upon receiving your request. Here’s what happens next:
• Timing: Status updates are processed within 24 hours, excluding Sundays and holidays.
• Third-Party Sites: It can take up to another 24 hours for your status to appear on third-party sites like Realtor.com, Zillow, and Redfin. Note that some sites, like Zillow, might remove your listing or mark it as “Off-Market” when changing to “Pending.”
Dashboard and Third-Party Updates:
• Customer Dashboard: The status update on your properties page can take up to 72 hours to reflect the status change.
If There Are Issues:
If the status of your listing doesn’t update within the expected timeframe:
• Please text us at 1-800-995-5879 with your property address and note that the online listing status or MLS status is incorrect.
• Our support team will help resolve the issue promptly.
Types of Statuses:
• Pending: Indicates a sales agreement is in place, but the sale has not yet closed.
• Cancelled: The listing is withdrawn from the market.
• Back on Market: The property is re-listed after being under contract and not closing.
• Hold: The listing is temporarily not being shown or marketed.
• Sold: The property has been sold and the transaction is complete.
• For Sale: The property is active on the MLS.
Violation and Timing Requirements (Pending & Sold Statuses)
Compliance with MLS Timing Rules:
When an active listing receives an accepted offer, it is crucial to adhere to the timing rules set by the MLS. Here’s what you need to know:
• 48-Hour Rule: The MLS mandates that the status of a listing must be updated to “Pending” within 48 hours of accepting an offer. This requirement also applies when changing the status from “Pending” to “Sold.” Sundays do not count.
• Fines for Non-Compliance: Failing to update the status within this timeframe can result in a fine of $250, imposed by the MLS, not Listed Simply.
For more details on these rules and how to ensure you meet MLS requirements, please visit our rules and regulations page here.
Understanding Fines:
It’s important to understand that fines are levied by the MLS and are not a part of Listed Simply’s fees. These fines are enforced to ensure that all transactions are reported accurately and in a timely manner, helping maintain a fair and efficient market.
Final Note:
By keeping these guidelines in mind, you can avoid unnecessary fines and help keep the real estate market transparent and orderly. Always ensure that your listing statuses are updated promptly to reflect their current state to remain compliant with MLS regulations.