Should the selling broker name be displayed on pending listings?

By
Real Estate Broker/Owner with BROOKVIEW REALTY

Does your MLS display the name of the selling broker/agent in the agent profile report for pending listings?

If so, why? If not, why not?

Recently my local MLS changed their long standing policy and removed this information field. Prior to this policy change, my MLS displayed the name of the selling broker and selling agent on all pending listings. A few agents have expressed concerns and want the display put back the way it used to be. A reversal of this policy is now being considered at the next MLS board of directors meeting.

Complaints have been heard since the policy change was instituted. Seems like buyer agents liked being able to view a pending listing to see who the winning agent was on a bank/reo "hot" listing. Somehow knowing this better enabled them to monitor those "unethical/greedy" REO listing brokers who were double dipping.

Some buyer agents also liked to call the winning buyer agent to ask how much the property ended up selling for before the closing actually took place.

Also it seems like competing listing agents often called the winning selling agent to ask them "off the record" for the selling price. They found this information "helpful" as they were preparing a CMA for a similar neighborhood property. BPO agents also enjoyed calling the winning selling agent for sold information to aid them in their BPO valuation preparation.

If this information is so useful and valuable to buyer agents, why not display the agreed upon "sales price" next to the selling agent name on pending listings?

I ask you, is this in the best interest of the seller? The listing broker? Obviously it is not. How could it be? Compromising the sellers "bottom line" before the official closing has taken place is not ethical or moral. It's against the REALTORS® Code of Ethics.

As a listing broker, I feel this information threatens the position of the seller. What happens if the deal goes bad and potential buyers learn of the sellers' previous "bottom line"? It is bad enough that the days on market information field is being used against the seller. Why should selling broker/agent name information be distributed on pending listings?

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Show All Comments
Rainmaker
122,018
Chris Hill
Century 21 New Millennium - California, MD
Your Southern Maryland Real Estate Professional

Dave, Not sure I understand? Isnt the Final Sales Price recorded in the tax record? Maybe a dumb question. Thought I'd ask.

Jan 27, 2010 10:20 AM #1
Rainmaker
105,415
David Elya
BROOKVIEW REALTY - Rochester, MI
ABR, CRS, e-PRO, GRI, SFR - Broker

Hello Chris,

This issue has to do with users of our MLS being able to see who the sucessful selling agent was BEFORE the property actually closes. No price info is shared until AFTER the closing. 

Dave

Jan 27, 2010 10:25 AM #2
Rainer
156,545
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI

I'm with you Dave.  I don't think the Selling Agent should be identified until the sale has Closed.  Too many things can go wrong these days prior to Closing that could prevent a Pending Sale from reaching a desired conclusion.

Jan 28, 2010 10:39 AM #3
Rainer
104,699
Don Stern
Realty Executives South Louisiana - Baton Rouge, LA
Greater Baton Rouge Real Estate

I have to agree.  I'm not sure what someone would/could do with this information without violating the Canons of Conduct.  Our MLS doesn't publish the selling info until after the sale is reported complete.

Mar 07, 2010 02:54 PM #4
Rainer
5,989
Chris Brown
Real Living Kee Realty - Shelby Township, MI

I can see both sides of this completely! I think that providing the information when the deal goes pending does nothing for our buyers, its more of a thing for the Realtor, you know how we all are we want to know who is beating us out! I do think that it can compromise the information for the our sellers though completely. Good Post

Jun 07, 2010 03:45 PM #5
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Rainmaker
105,415

David Elya

ABR, CRS, e-PRO, GRI, SFR - Broker
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