MLS

The SBMLS Board of Directors has decided not to move forward with a freeze on Days on Market (DOM). The Board examined all considerations around this issue and strongly feel that this is the best approach during these unprecedented times. Freezing DOM distorts the accuracy of the data in the system. It is important that we maintain this data to understand the true impact of the COVID pandemic on real estate.

The Board of Directors has approved a rule change to remove the 21 day limit on Coming Soon listings. A listing may now be entered into the MLS for the duration of the listing contract.

At it’s November 11^th meeting, the National Association of REALTORS’ Board of Directors approved MLS Statement 8.0, also known as the Clear Cooperation Policy. The policy requires listing brokers who are participants in a multiple listing service to submit their listing to the MLS within one business day of marketing the property to the public.