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Notice Regarding "Coming Soon" Signs on Listings

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"COMING SOON" signs appear to be popping up all over the valley and causing some confusion amongst fellow Realtors. To make the rules clear, below are the two MLS rules which speak to this topic. Whether a listing has a sign on the property with "Coming Soon" on it or does not have one, the listing must be inputted into the MLS within 2 days. Should there be some reason the Seller does not want the listing in the MLS a "Seller Instruction to Exclude Listing from the Multiple Listing Service" (SELM) form must be filed with CDAR. Should this form not be filed with CDAR within the same 2 day time period, a violation will be issued for Late Entry of Listing/No SELM on File. First violation is a warning. Second violation carries a $500 fine. Third violation carries a $1000 fine.

For Listings not entered in the MLS at all, with no SELM on file within the timeframe as noted in Section 7.5, a violation will be issued for Failure to Input a Required Listing/No SELM on File. First violation is a warning. Second violation carries a $600 fine. Third violation carries a $1800 fine.

For the exact MLS rules, please click the button below.

7.5 Mandatory Submission. Within 2 days after all necessary signatures of the seller(s) have been obtained on the listing or at the beginning date of the listing as specified in the contract, whichever is later, on any exclusive right to sell or exclusive agency listing on one to four unit residential property and vacant lots located within the service area of the MLS, Broker Participants shall (1) input the listing to the service, or (2) submit a seller-signed exclusion in accordance with Section 7.6 (Exempted Listings) to the service. All necessary signatures are those needed to create an enforceable listing, which generally means all named signatories to the listing agreement. In the event there are known additional property owners not made a signatory to the listing, listing broker shall disclose said fact on the service and state whether the listed seller will make the sale contingent on the consent of the additional property owners. In the event listing agent is prevented from complying with the 2 day time period due to seller’s delay in returning the signed listing agreement, listing broker must submit the listing to the service within 2 days of receipt back from seller. The MLS may require listing broker to present documentation to the service evidencing seller’s delayed transmission. Only those listings that are within the service area of the MLS must be input. Open listings or listings of property located outside the MLS's service area (see Section 7.7) are not required by the service, but may be input at the Broker Participant’s option.

7.6 Exempted Listings. If the seller refuses to permit the listing to be disseminated by the service, the listing broker shall submit to the service a certification signed by the seller that the seller does not authorize the listing to be disseminated by the service. C.A.R. Standard Form SELM may be used for this certification, but in any event, said exclusion shall include an advisory to seller that, in keeping the listing off the MLS, (1) real estate agents and brokers from other real estate offices, and their buyer clients, who have access to the MLS may not be aware seller’s property is for sale, (2) seller’s property will not be included in the MLS’s download to various real estate Internet sites that are used by the public to search for property listings, (3) real estate agents, brokers and members of the public may be unaware of the terms and conditions under which seller is marketing the property, and (4) any reduction in the exposure of the property may lower the number of offers made and negatively impact the sales price.