Why is this Coming Soon Status being implemented?
Recently the National Association of Realtors mandated that all MLSs adopt the new Clear Cooperation Rule. This rule requires that any listing that is publicly marketed must be input on the MLS within 1 day. To help our members comply with this rule while still complying with the terms of their agreement or their marketing strategy your MLS Board of Directors voted to add this new status.
What is the Clear Cooperation Policy 8.0 Rule?
The new NAR 8.0 Rule can be found in the BeachesMLS Rules and Regulations Section 3.19, it states: Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
When will the new rule be enforced?
The rule will take affect on May 1st.
Why can’t I do an Open House or Showing on my property in Coming Soon?
The Purpose of the Coming Soon status is to pre-market a property that is not yet available. Though offers can be submitted at anytime per Florida Law the listing cannot be shown or have an open house because it is considered off market.
What if I have a buyer and allow them to see the property while it is in Coming Soon?
This would be a violation of the Coming Soon status rule. If you want to allow showings for all agents including yourself, you can update the listing to Active. A violation of Section 4.2l found in the Compliance Guidelines carries a $1,000 administration fee for the second offense:
If it is discovered that a Participant or Subscribers provides access via showings or Open House to a property listed in Coming Soon status the following penalty will be assessed. $1,000 per occurrence (warning notice for first offense and automatic administrative fee for any offenses thereafter within two years)
What happens if I violate the new rule?
The BeachesMLS Board of Directors voted to make a violation of this rule a $1,000 administration fee, however everyone will receive a one-time warning.
Do I have to put my Listings in Coming Soon or can I submit to Active status?
There is no requirement to use the Coming Soon status, you can enter your listings as Active if you’d like.
What exactly is public marketing?
NAR defines public marketing as: flyers displayed in windows, yard signs, digital marketing on public facing websites (social media), brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
What about office exclusive listings?
NAR permits office exclusive listings as long as there is no public marketing and the distribution of the listing remains in the office under the same qualifying broker.
Why does the Florida Realtors listing agreement allow my seller to opt-out of the MLS?
The Florida Realtors listing agreement was created prior to the new rule however FR has updated the document to comply. We recommend utilizing the newest version of the agreement which can be found on Form Simplicity, TransactionDesk or wherever you access Florida Realtors forms.
What if my seller is a celebrity, law enforcement or other type of private individual that does not want their listing on the MLS?
If a property is publicly marketed, it must be entered into the MLS within 1 business day, however there is no obligation to input the listing in the MLS as long as the listing agreement or other written documentation stipulates that the seller wishes it to be withheld and it is not publicly marketed in any way.
If a seller does not wish to put their home on the MLS or begin showing, are we obligated to enter the listing as Coming Soon?
No, there is no requirement to enter a listing as Coming Soon. However, once you publicly advertise the listing you must enter it into the MLS within 24 hours as either Coming Soon or Active depending on if you are ready to begin showings.
Can I change a listing from Temporary Off the Market to Coming Soon?
No, you can only enter a listing as Coming soon at the time of entry.
Can I market my listing on Facebook during Coming Soon?
Yes, public marketing is allowed during Coming Soon status.
What if we need more than 21 days to complete improvements?
Properties in Coming Soon cannot be extended beyond the 21 day window. If there is considerable work that needs to be done, it may be best to hold the listing off of the MLS without marketing or showings until the work is complete.
