CANCELED LISTINGS:

• Please remember that the WC-Canceled status is only to be used when the listing agreement has been canceled prior to the expiration date of the listing agreement, and that by mutual consent of the listing broker and the seller.
• On a monthly basis the RSC monitors listings that have gone to the WC status within the previous 30 days.  A “courtesy email” will be sent to the listing agent for those listings that appear to be in violation of the PPMLS Rules and Regulations.  See sample email below:

      Subject line:  PPMLS Canceled Listing “Warning”

Section 1.5(a) of the PPMLS Rules and Regulations states, “A canceled listing indicates that the listing has not expired, but has been canceled by mutual agreement with the seller.” 

In the past few years it had become common practice for listing agents to change the status of their listings in the PPMLS system to WC – even though the listing agreement with the seller was still in full force.  This “marketing” practice was to generate a new MLS# or to push their listing onto the Hotsheet report again.  Unfortunately, it greatly inflated by 12-14% the number of “new” listings recorded in the PPMLS statistics.  

The new TEMPO system now randomly assigns the MLS#; it is no longer chronological.  Also, TEMPO displays a Cumulative Days of Market (CDOM) which is computed using the previous DOM and current DOM of a property.   To further discourage the misuse of the WC status the RSC Board of Directors revised the policy so that after an initial “courtesy warning” future undocumented cancellations would be assessed a $100 fine.  

The monthly audit has detected a possible violation.  Your listing, MLS# 123456 was changed to W/C on 01/01/2005 and then entered as a new listing MLS# 78901 on 01/01/2005. 

Please provide the following documentation within 2 business days of the date this email was sent to you:

·        Written document showing that the seller had agreed to cancel the previous listing agreement.  (This is not to be confused with the act of merely changing the status of the listing in TEMPO.)  The listing agreement cancellation document should be dated prior to, or same date as the date the listing was changed to WC in TEMPO.

·        Copy of the new Exclusive Right to Sell or Exclusive Agency listing agreement which went into effect after the cancellation of the previous listing agreement. 

Fax your documentation to RSC at 719-476-8185. 

Please note that this email serves as a “courtesy warning” whether or not you are able to provide documentation.  Also, if this is not your first WC “courtesy warning” (whether for this property or another property) you are subject to an automatic $100 fine if valid documentation is not submitted within 2 business days of the date this email was sent to you. 

Thank you for your cooperation. 

Acting on behalf of the RSC Board of Directors,

Sheila Wijfjes

RSC Administrative Assistant

 ENTERING DATES INTO THE PPMLS TEMPO SYSTEM: 

·        LIST DATE:  On Listing Contract, the date the listing period begins.

·        EXPIRATION DATE:  On Listing Contract, the date the listing period ends. 

·        FIRST RIGHT OF REFUSAL DATE:  Date the seller accepts a contract with a First Right of Refusal.

·        WC-CANCELLED DATE:  Date the seller signed an authorization to cancel the listing agreement.

·        W-TEMPORARY WITHDRAW FROM MLS DATE:  Date the seller authorized the listing to be temporarily withdrawn form the PPMLS.

·        BOM DATE:  Date the seller authorized the listing to be put back into the PPMLS.

·        SOLD DATE:  Date the property was sold and closed.

·        PENDING DATE:  Date the seller accepted an offer, and took the property off-market (no showings).

·        UNDER CONTRACT DATE:  Date the seller accepted an offer, but will continue to take back-up offers.

·        LEASED DATE: Date the property was leased. 

NOTE:  DO NOT USE THE DATE THAT THESE TRANSACTIONS WERE ENTERED INTO THE TEMPO SYSTEM.  THE SYSTEM WILL COMPUTE A REPORTED DATE FOR THE TRANSACTION. 

STATUSES that expire on their expiration date:

Active

First Right of Refusal

Under Contract

Withdrawn