Per Section 1.3 of the realMLS Rules and Regulations, “For statistical purposes, realMLS Rules and Regulations allow for (but do not require) the entry of sold properties listed by a realMLS Participant but withheld from publication in realMLS within 30 days of closing.”
Agents can add a listing that sold off market as a “Comp Only listing” in the MLS. Scenarios in which this may occur include:
- New Construction
- A buyer representative on an unlisted property
- Listings that were previously on a Waiver of Entry *If a listing was previously on a Waiver of Entry, you must have written authorization from the seller to add the listing to the system
To enter a Comp Listing
- Click Add Listing from the main Menu.
- In the General tab, please select the Property Type and change the Listing Member to “Non MLS” or “99999.”
- You may use the Tax Lookup tool to auto-populate some information in the next tabs. This field is optional and will only work for counties in the Tax Lookup list.
- In the Main Fields section, use the date of contract as the Listing Date and the Expiration Date may be any date after the Listing Date but not before the Sold Date. Use the final sold price as the List Price.
- In the Main Fields for Comp Sale Y/N please select Yes from the drop down menu.
- In the Private Remarks section, please indicate that the listing is for “Comp purposes only”.
- Continue to add the listing as you normally would, completing all required fields with as much detail as possible, and finish adding the listing to generate the MLS number.
- When the listing has been added to the system, you will go into the Change Listing screen and change the Status to Sold.
- You will use actual date of contract as the Under Contract Date. This date must be between the Listing Date and Sold Date.
- Please provide accurate Sold Price, Financing Type and Concessions details.
- Finally, you will list yourself as the Selling Agent.