The Triad MLS Board of Directors and Shareholders have approved the following changes in our rules and regulations. These changes are targeted for release on Tuesday August 16th at 5:00PM. Should there be a change to that date, we’ll notify all users via this News and Alert service. Highlights of the changes are below but please review the attached documents for details on how this came about and further information. (included as links at the bottom of this message)

Coming Soon Changes

• The maximum amount of time a listing can be in Coming Soon-No Show status will be 7 days. (Down from the previous 21 day max)
• Coming Soon listings will now be included on Syndication sites (TriadMLS.com, Realtor.com, Homes.com, ListHub)
• Days on Market will start accumulating for Coming Soon-No Show listings from the initial date of entry. This is because those listings are being actively marketed and currently appear on all broker web sites and very soon on syndication sites.
• We are modifying our compliance platform, Listing Data Checker, to accommodate a violation to a showing agent who shows a property in Coming Soon-No Show status. This is a Category III violation.
• Modified Coming Soon-No Show addendum to highlight in RED that:“It’s in the best interest of most sellers to get the highest possible price on the best terms for their property, and maximizing exposure of their property advances that interest. Accepting an offer on the property before it is fully exposed to the widest group of potential buyers may deny the seller the best opportunity to attract offers at the highest price and best terms.”
  

Listing Entry Date Changes

• Listing submission rule changing to require that listings be submitted to the service within 1 “Calendar” day vs. 1 Business Day.
  The new wording includes:“….listings must be submitted to the service within one (1) calendar day after the later of the effective date or the marketing date shown on the listing agreement.”.
  
• The only ‘exception’ to the above would be Office Exclusive listings as identified in Section 1.4. (see more detail in documents)