Are you using the Withdrawn status in Flexmls correctly? Each month SWMLS staff identify several listings in a Withdrawn status that actually should be Cancelled. Knowing the difference between a Cancelled and Withdrawn status is important to ensure the MLS Listing Policies are being followed. This article talks about Withdrawn status and when to use/not to use it.
What is a Withdrawn listing? The SWMLS rules define the Withdrawn status as the Property is unavailable for showing – listing agreement is still in effect. Since a Withdrawn listing still means there is a listing agreement in place with the seller this status should only be used to mark the listing as Temporary Off Market, with the intention of eventually going back Active again.
What if the seller terminated the listing? The correct status to report a terminated listing is Cancelled. This means the seller/s terminated the listing agreement in writing.
Can I leave the listing Active if the seller does not want take showings temporarily? Yes. SWMLS Listing Policies actually allow you to add the comment, “Do Not Show” in the Broker Only (LO/SO) Comments on a listing for up to 7 days AND to leave the listing in an Active status. If the seller does not want showings for more than 7 days then the listing will need to be Withdrawn.
Does the Days On Market count when a listing is Withdrawn? No. The DOM on a listing counts when a listing is Active in the system. When a listing is Withdrawn the system will stop counting the Days on Market. Once the listing goes Active again, the DOM will continue counting again.
Here are two common issues that the SWMLS Compliance Department sees each month.
Compliance Issue #1: Adding a new listing in the MLS as Active when there is already a Withdrawn listing for that same address.
A common issue with Withdrawn listings is that they are not originally reported as Cancelled in the MLS. When the new listing agent lists the Property again in the MLS system they may not always see that there is a Withdrawn listing already entered for that same address. When the new listing is made Active in MLS, there is the problem of having duplicate listings in the MLS. One listing is Withdrawn and the new one is Active. This gives the appearance that the seller of the property has entered into a listing agreement with two different offices. SWMLS works regularly to educate our MLS members on proper use of the Withdrawn status and may advise that listing agent to report their listing as Cancelled.
Compliance Issue #2: Improper use of Withdrawn status on Residential Rental Listings
Another common issue that occurs with Withdrawn listings is when a Residential Rental listing has leased or rented. When a Rental listing is changed to Withdrawn it gives the appearance that the Rental listing is temporary not doing showings but that the listing agent still has an agreement with the seller to rent the home. A Residential Rental listing that has successfully rented should be changed to a Closed/Leased status.
If you have additional questions about the MLS statuses for Withdrawn or Cancelled, please email us at email@example.com or call 505-843-8833.
Jeffrey Bratton is the MLS Manager at Southwest Multiple Listing Service, Inc. This New Mexico native and UNM gradudate (Go Lobos) begin his real estate career at the Albuquerque Metropolitan Board of Realtors in 2006 and provides technnical training and real estate support for the 3,500 REALTORS® and Appraisers in the Greater Albuquerque Area. In addition to managing the MLS system, he currently serves as a liasion for the MLS committees: SWMLS Policy Committee, SWMLS Compliance Committee, SWMLS Technology Task Force, and is also a member of the Real Estate Standards Organization (RESO) and Council of Multiple Listing Services (CMLS).