Beginning on September 28th, a Coming Soon Status will be added to the VMLS.
To coincide with the implementation of the Clear Cooperation Policy, the VMLS has decided to add a Coming Soon Status the MLS. This status would allow for VMLS members to market a property before it goes active in the MLS.
What is a Coming Soon Status?
The Coming Soon status will allow for situations where a Listing Agreement has been signed between the broker/agent and seller, but the property is not yet ready for sale and will be within 30 calendar days of the seller’s signature. This allows a property to be secured with a listing agreement and entered in the MLS, while not available for showings or sale until the designated “Showing Start Date.
Why is this status being added?
The VMLS Board of Directors wants to ensure that members have all the tools at their disposal to meet their client's needs. In situations where the property is not ready to hit the Active marketplace, the Coming Soon status will allow for a property to be entered into the MLS and publicly promoted, prior to going active.
How does this relate to the Clear Cooperation policy?
The Clear Cooperation policy requires members to submit a listing to the MLS within 1 business day of being publicly marketed. If a listing agreement has been signed, but the property is not ready to be shown or go active in the MLS, the Coming Soon status will allow it to be entered into the MLS and then promoted publicly as "Coming Soon".
View the rules for Coming Soon.
These new rules will be added on September 28th. Exhibit E is new and outlines the Coming Soon status and rules in full detail. In addition, a seller information sheet is available to help communication with sellers.