Here you'll find a list of frequently asked questions regarding various fields in the MLS system.


TABLE OF CONTENTS

1. What is a Comp Only Listing?

A Comp Only listing is a listing that closed outside of the MLS. There are multiple situations that may constitute this handling, such as a property that was for sale without a listing agent and was sold through the efforts of a buyer agent, or a listing that sold before it was entered into the MLS (perhaps within the 48 business hours window or perhaps as an office exclusive listing). It is beneficial to enter those listings into the database for comparable purposes. 

Pertaining to Comp Listings, there are some guidelines to be aware of:

  • You must have written permission from the side of the transaction that you represented to enter the transaction into the MLS.

  • You may enter a comp listing within 7 calendar days after the closing date. Entry outside of the 7 days will generate a compliance notice and if the agent has received 2 or more previous compliance notices for late Comp Only entries during the previous 12 months, the latest notice may include a fine to the office.

  • The status will be "Closed."

  • The "MLS List Date" and "Expiration Date" fields must be the same date as the "Closed Date".

  • If the agent represented the "Buyer Only" they will select that option in the "Comp Only Type" field. When completing the "List Agent" field, the agent will enter their own name; however, this will convert to reflect "A non-PrimeMLS member/A non-PrimeMLS Agency" once the listing is saved. Buyer Side Comp listings will not have any edit capabilities by the agent once the listing is activated - Buyer Side comp listings can only be edited by PrimeMLS Staff. Create a ticket or email rules@primemls.com. Listing Side comps may be edited by the list agent after saving.

  • At least 1 photograph must be uploaded. On a Buyer's Side Comp, the photo must be uploaded prior to saving the listing.

  • All data must be complete and accurate.

  • All parties will still receive credit for the side of the transaction they represented.

2. Coming Soon 

  • If a property is not available for showings upon entry into the MLS, it must be entered as a Coming Soon listing, which cannot be shown.

  • Use of Coming Soon is only available at initial input of a listing.

  • Listings in Coming Soon Status must also have an Activation Date within 10 calendar days. Listings will automatically convert to an Active listing based on the date entered into the Activation Date field. You can update the status prior to the Activation Date if needed.  
  • Offers are permitted while a listing is in Coming Soon status.
  • Showings are not permitted during this time. Violations for showing a Coming Soon listing are as follows
    1. 1st Offense - $250.00 fine
    2. 2nd Offense - $750.00 fine
    3. 3rd & Subsequent Offenses - $1,500.00 fine and a required hearing with the Complaints and Violations Committee
  • Coming Soon listings will appear on PrimeMLS.com, IDX and VOW sites, and third-party syndication sites (based on your selections in Data Authorizations), as well as hotsheets, ShowingTime feeds, specialty feeds, and the Collab Center. 
  • Days on Market will not accrue while a listing is in Coming Soon status.

3. What is the definition of "Square Footage Below Grade"?

PrimeMLS does not define the difference between "above grade" and "below grade" square footage. If you are unsure, we recommend checking with a local appraiser for guidance.

4. Can I list a property in multiple classes?

Listings submitted to the MLS may be entered into a maximum of two property classes/types for marketing purposes only until the time of sale per the below guidelines:

  • The MLS List Date and the property address must be identical in both MLS numbers.

  • When entering the property into the 2nd category, select "Yes" in the "Marketed in Other Property Type" field and include the original MLS number in the "Other MLS#" field.

  • The status of both listings must be the same until the time of closing. At the time of closing, just 1 listing is closed. We ask that you email the other MLS number to rules@primemls.com so that PrimeMLS can delete it.

  • Condos, mobile homes, and multi-family listings must be closed in their respective categories, regardless of what other property class/type they were also marketed.

5. How do I close 2 or more properties that were sold as a package?

When two or more separate listings are sold simultaneously as part of a single transaction, the member shall close each listing individually and the sum of the "Closed Price" values assigned to the listings must equal the total amount paid by the purchaser. Sold prices assigned to each individual listing may be based on an appraised value, assessment, or percentage of the sold price.