Clarifying Oahu MLS rules for active listings

By
Real Estate Agent with Shirokiya Residential Estates RS-54129

In recent months there's been a trend with Active real estate listings on Oahu.  These days, when the seller gets an offer and the property goes into escrow, the listing is often kept on ACTIVE status.  This indicates to buyers and their agents that the property is available.

Customers see the listings, ask their agents to arrange showings and often learn that some of the properties are in escrow.  That's a disappointment for many.

Was there a rule change?  Why are nearly all of the big brokerages doing this now?

Actually, there's no change in the rules.  Anytime a property changes status (Active to Pending, Pending to Sold) the seller's agent is supposed to prepare a "Status Change Form" and have the sellers sign it.  Once the form is signed, the agent is supposed to input the change to the Oahu MLS system within four days.

Oahu's real estate market is slow and buyers often have problems obtaining financing or just get cold feet.  For that reason, many brokerages are leaving properties' status as ACTIVE until they actually sell.

I understand the logic and applaud the brokers for doing what they believe is right to sell their listings.  On the other hand, my feeling is that it's most appropriate to change a property's status to ACTIVE CONTINUE TO SHOW, which gives the buyer's agent a heads up that there's already an offer.  This helps the agent because he can quickly explain to the buyer that there's already an offer prior to calling the seller's agent. The seller's agent also appears to be more "up front" and less sneaky, something we realtors should avoid.  We don't want customers to equating us with used car salespersons!

Aloha, Mike

Honolulu homes

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Rainmaker
188,229
Audrey June-Forshey
RE/MAX Realty Services - Darnestown, MD
GRI, Gaithersburg, MD

ooohh, it is mandatory in our Board and MLS to change the status accordingly or we are fined.

February 13, 2009 06:24 PM #1
Rainmaker
120,242
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

I agree with you 100%. Our time has a value and chasing after pending and closed listings is a waste of time to my buyers as well as my time. I feel that if the agent is not will to allow the property to be shown then the status must reflect that in the MLS. Our board had a button at the bottom of the screen that allows the agent viewing the MLS Listing to send an email to the Board so that you can report problems or errors. They seem to take very quick action ( less 24 hours for correction).

I sure that has help correct a lot of issues in the MLS. If you Board does not have such a reporting method I recommend it very strongly.

Chuck Mixon

Cutler Bay, FL

February 13, 2009 06:55 PM #2
Rainer
30,772
Doug Aaserude
Inactive until May. 2009 - Beaverton, OR
Broker

its up to the listing agent to keep their status's correct. here in oregon, our mls will fine theagents if they are not doing so properly.

February 13, 2009 07:02 PM #3
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Rainmaker
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Hawaii homes

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