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Thankfully not in my world.
Sally and David - YIKES! I've heard of some odd MLS stories -- interested to know if this phenomenon is in other areas -- not ours, thankfully...at least yet.
The MLS doesn't but our Agency relationship to our principals certainly does as do individual state real estate laws.
That is not a rule in our MLS.
Sally K. & David L. Hanson - as far as I know, our MLS does not interfere with that! And we do leave a comment when such things happen - please allow sufficient time to respond to offers. Simple!
That seems like complete crap to me. REOs often go on the market and won't accept offers for X # of days and then for X # of days will only accept from owner occupants... does your MLS think they can take those homes off the market too. While I think it's wrong for an agent to place demands about when offers can/will be presented certainly the sellers have EVERY right to do so and it should be disclosed like you said it was.
I think your board needs to take action with your MLS. I don't know how things are structured with your board and MLS, but I would be looking at what you could do to get things changed.
Not that I know of. Nor is there a time frame in which a seller must view a PA.
Listing agents in Denver are listing when they are presenting offers, as listings are not out there longer than a day or so.
No. Agents are free to handle offers as they wish.
No, we are governed by our state rules that say offers must be presented in a timely manner. Though, in situations where the party is unavailable, there's little any one can do.
ours does not.... all offers must be presented....period...
No, not here on Kauai. I wonder if your MLS is over-stepping legal boundaries on this. Your client should not be restricted in setting the terms for their listing unless it violates state law.
Just have buyer extend the response time on the contract. Most of our customers are not here.
No. But in a sellers market, the listing agents sure do. They often post due dates for reviewing offers when they anticipate multiple offers; which is greater than 75% of our listings since November 2011 in my area of San Diego.
I've never heard of this. We are supposed to present all offers "promptly," but what that entails in terms of time is not identified. Most of our offers have a deadline by which we need to respond, so we typically back up from there.
If I understand your question, you perceive the local MLS wants any home for which an offer has been written be suspended from the market.
Now that will drive a most certain change in process in that area because, those who have no intent of buying can cause other, perhaps competing homes, or homes they want placed in a hold status, removed from ACTIVE status. That will be extremely damaging to the seller.
Clearly that is not the intent.
What your MLS may be attempting to establish is a maximum delay and if response is expected to be in excess, the home really is not available for sale. Much in the same spirit as placing a home in the MLS and not allowing showing for 2 months. Allowing such a practice paralyzed the thinking of most buyers if they know the house around the corner will be available and it MAY be the perfect one.
Of course, there are few rules imposed by the MLS that can not be circumvented. So, restructure the process to benefit your seller.
Be aware, many foreclosed properties were marketed and SOLD with exactly the same provision and listed in the local MLS.