Q&A: Answers to Three Listing Input Questions

Do you have a question for Rose-Marie? Ask it here.

Your time is very valuable and it is our hope that providing responses for even just a few of your listing input questions will help you learn something while also making it efficient to do so.

Question:

"I just got a new listing for a property previously listed with another firm. I would like to enter the listing but noticed that the previous listing is still in TREND with a 'temporarily off market' (T/O) status when it should be withdrawn. What should I do?"

Answer:

Occasionally more than one broker may have a valid listing agreement for the same property but TREND permits only one listing for a specific property in each listing category.

If you are faced with this type of issue:

• Notify your broker
• Your broker should try to resolve the issue with the previous broker and the seller
• If that attempt fails, you should notify our Support Center who will conduct an investigation with both firms

Do not enter your listing until the issue has been resolved.

Since the "Temporarily off- market" status in TREND indicates that there may still be a listing agreement in place with the other brokerage firm, it is possible that the seller may have expressed a desire to terminate the listing agreement but the broker may be unwilling to grant a release. The broker's obligation to release the seller is based on the terms of their listing agreement.

For instance, the listing agreement may reflect the following or similar terms: "This listing expires on December 31st, 2012, but both parties may terminate this agreement after 120 days with 30 days written notice." Such a clause in the listing agreement obligates the broker to release the seller after 120 days provided that written notice is given within the time-frame specified and the status should be withdrawn once all requirements have been met.

If the listing agreement reflects that the listing expires on December 31st, 2012 and an early release clause is not included, the broker has no obligation to release the seller until the expiration date is reached in which case T/O status would be appropriate. In this situation, you would enter your listing only if/when the broker grants the seller an early release or upon expiration of the listing term.

Question:

"I just got a new listing for a property previously listed by another firm. Can I copy the listing, including photos and remarks?"

Answer:

You are not permitted to use photos or any other listing content such as remarks, without the permission of the previous listing broker. For additional information, see "Copying Remarks Without Permission" and "Policy on images included in TREND."

TREND does not provide you with the ability to copy another firm's or any other agent's listing. So a member of XYZ Realty is not able to copy the listing of another member of XYZ Realty or a member of any other office. However, you are permitted and do have the ability to copy any of your previous listings — regardless of the listing status.

Question:

"How should a home which currently has 3 bedrooms with the potential to add a 4th bedroom be listed? Can I enter two different listings to reflect that information?"

Answer:

When a listing is entered into TREND, you are representing that the information is accurate to the best of your knowledge. A listed property must accurately reflect the current physical characteristics, attributes and the proper property location. Since the property currently has 3 bedrooms, the listing should be entered showing only 3 bedrooms.

However, it is acceptable to disclose the potential to add a fourth bedroom and any price differential that may be applicable under those circumstances in the Remarks field.

Duplicate listings which reflect inaccurate information such as the reflection of more than one designated city name or MLS area, varying bedroom counts or for the purpose of increasing exposure as another new listing or attempting to include the property in additional searches is not permitted.

Additionally, entering duplicate listings (in the same category) for the same property in the MLS may be misleading and confusing to other members, skew statistics and adversely affect Comparative Market Analysis (CMA) reports.

Resources:

If you encounter these or other similar types of issues, you may contact our Support Center at 1-877-330-9900 for assistance.

You can also obtain information regarding a wide variety of topics related to TREND guidelines by using our On-line Support Center which you may access from any page on our website. Just go to the search field at the top right hand corner of the page and enter a keyword.

I would like to be able to provide answers to other questions you may have. Feel free to leave your questions in the comments and I'll try to answer them for you.