Listings

A New Add/Edit System is Coming

We’re Redecorating Add/Edit Inside and Out
 With a New, More Modern Look and Functionality!


If you are a broker, agent, office-staff person, or personal assistant, and entering listings is part of your daily grind, then you are no stranger to the system updates RealTracs has recently released.

We know you have been asking, and it has been a long time coming, but your wait is about to end.  In response to your feedback and as part of our continuing effort to make adding listings to the MLS as easy as possible – and mobile-friendly – we are rolling out the first piece of a shiny and new add/edit system, appropriately called, Add Listing.

As shown below, the new Add New Listing page (yay!) is replacing the existing add listing page (boo!).   The old add/edit system has been a trooper for many years, but it’s time to send it into retirement and replace it with an entirely new experience.

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Here are some of the differences you will notice:

  • Completely fresh and mobile-friendly look and feel
  • Address lookup assistance
  • Tax ID search improvements
  • Wait, did we mention it’s mobile-friendly and not old and crusty?

You can expect to see additional pieces of the new mobile-friendly add/edit system added over the coming weeks and months.

Give it a test drive and let us know what you think!

New Active Listing Status Added to RealTracs.net

To better reflect the showing status of an active listing, the following changes have been made:

  • Active status will now display as Active – Showing.
  • A new status of Active – Not Showing has been added to add/edit, search, and reports.

How Active – Not Showing works:

  • A new listing can be added as, and an existing listing can be changed to, Active – Not Showing if:
    • The required Available for Showing Date is within fifteen (15) days of entry into the MLS system or the status change toActive – Not Showing
    • The Available for Showing Date is before the expiration date of the listing
  • Active – Not Showing listings are not syndicated until the status goes to Active – Showing
  • Active – Not Showing listings are not available on the hot sheets or sent via auto notification until the status goes to Active –Showing

 If you have questions about the new statuses, a help page has been created and is available at help.realtracs.net.

Additionally, the RealTracs Help Desk is available Monday – Friday from 8:00 am until 5:00 pm via email at helpdesk@realtracs.com or by phone at 615-385-0777.

Guidelines for Non-MLS (Comp Only) Properties

Responsibilities of the MLS Participant:

  • The participant is responsible for entering the information in the RealTracs database, once the permission form has been received from the current buyer.
  • The property must be listed, pended and closed in the MLS database.
  • A copy of the Non-MLS permission form and the H.U.D. must be faxed to 615-385-7872.

RealTracs will correct the list, pend, and closed dates, as well as the listing agent field.

Please Note:

  • The statement “For Comp Purposes Only” must be entered in the Remarks section of the property listing.
  • The Purchase Agreement must be made available to RealTracs upon request.
  • If requested, the participant must produce the documents within 24 hours.
  • Failure to provide requested documentation will result in a $100 fine and removal of the listing from the MLS.

Timeline for Adding a Non-MLS Property to the System

When a request to add a Non-MLS listing is received, the schedule below will be followed:

Date                                                                                                       Charge

Closed Date – Sixty (60) Days After Closing                                  Free
Sixty One (61) Days – One Year After Closing                             $30.00
Listings Over One Year From Closing Date                                      *

Closed Listings over a year old will not be accepted as Non-MLS

Is Your Listing In the Correct Status?

To show or not to show.  That is the question…but it doesn’t stop there.

What listing status should be used once a contract has been accepted? Active-Contingency?  Maybe Pending?  Follow these simple guidelines to ensure your listing is displaying the right status, at the right time – for the right reasons.

Once an offer has been accepted, there are two options for listing status.  If your seller desires to continue showing the property for back-up offers, the listing must be updated to Active-Contingency, with the specific contingency selected – sale of home, financing, inspection, etc.

If, however, an offer had been accepted and the listing is not being shown for back-up offers, you are required to update your status to Pending. This is advantageous for you as the days on the market will not increment during a pended status.

It’s important to remember however, once a contract is in hand, it is no longer permitted to remain in an Active status – it must go to Active-Contingency or Pending.  Even the TAR standard of practice states, “REALTORS® shall disclose the existence of
accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.”  Not doing so is considered
misrepresentation.

The final step of the listing would be an update to a Closed status, and it’s equally important to remember that once a listing closes, you have seventy-two (72) hours to change the status of that listing to Closed in the MLS system.

The market is picking up and things are moving faster; however, to ensure all users of RealTracs are accessing updated, and
accurate information, make sure your listings have the correct status—whether that be Active, Active-Contingency, Pending, or Closed.

Because everyone loves a challenge (and really because it’s just that important) there will be a grace period through Friday March 15 to place your listings in the correct status.  Listings discovered with an incorrect status after this date will be subject to applicable fines as defined in the RealTracs rules and regulations.

So, double check your listings! Your fellow agents, and possibly your pocketbook, will thank you for it.

RealTracs rule references:

2.5(i) A status change must be made within 48 hours of acceptance by a seller of an offer to purchase. The status can be changed to 1) PENDING — which means that a contract has been accepted and the seller(s) requests that there be no more showings, or 2) ACTIVE CONTINGENCY — which means a contract has been accepted but the seller(s) requests that the property still be shown for a back-up contract.

10.1(e)   Failure to report listing “pending” or “active contingency” once a contract has been accepted by the seller to the MLS within forty-eight (48) hours, Fine $100.00.

2.5 (h)  …after authorized changes are received by the listing broker, they must be reported or input within forty-eight (48) hours of the change condition, with the exception of closed which must be reported or input within seventy-two (72) hours.

10.1(d) Failure to report listing closed to the MLS within seventy-two (72) hours, Fine $100.00