On April 2, 2020, MAAR introduced a new Coming Soon listing status to Paragon MLS. This new status is intended to allow the entry of new listings in the MLS within the time limits required by MLS Rules while prohibiting all showings until a specific date—the Projected Active Date—as agreed by the seller.
Properties listed in the Coming Soon status must not be shown to any prospective buyer by anyone and will automatically change to the Active status on the Projected Active Date. Properties listed in the Active status must be available for showings unless occupied by a tenant.
When to Use Coming Soon:
- The sellers have signed a listing agreement with the listing agent.
- The sellers do not wish to show the property prior to listing in the Active status.
- The sellers wish to limit marketing of the property prior to listing in the Active status.
- The sellers have signed a Coming Soon Listing Addendum.
Key Points about the Coming Soon Status:
- The property shall not be shown to any prospective buyer by anyone while in the Coming Soon status.
- If a listing is shown while in Coming Soon status, the listing must immediately be placed in the Active status.
- A listing can never return to the Coming Soon status once it has moved to another status.
- A listing agreement must be signed to use the Coming Soon status.
- A Coming Soon Listing Addendum—or a document with similar wording—must be signed and attached to the MLS listing in Paragon.
- The Coming Soon listing must be entered into the MLS within 48 hours of the date of the listing.
- The listing will automatically change to Active on the Projected Active Date, as specified in the Coming Soon Listing Addendum and in Paragon.
- A reason must be given for listing in the Coming Soon status, as specified in the Coming Soon Listing Addendum and in Paragon.
- Days-on-Market will not accumulate during the Coming Soon period.
- You can extend the Projected Active Date but you must upload a new Coming Soon Listing Addendum if you do.
- Coming Soon Listings will only be visible to MLS subscribers. They will not be shared to third-party websites for public display.
- Use of the Coming Soon status is optional.
Now that the Coming Soon status is available, the definition of the Active status has changed to the following:
Active: A listing for which the Participant has a current listing agreement, and which is available to be shown. Tenant-occupied listings that are not available to be shown by anyone, including the listing agent, may be placed in the Active status with the Seller’s written authorization.
View the full changes to the MLS Rules & Regulations regarding the Coming Soon status.