One of the most frustrating things we come across as REALTORS® is the non-updated status of a listing in our MLS. You would think it would be easy. If it has an offer on it, mark it contingent or pending but more and more agents are refusing to change status saying "if I mark it Pending no one will want to see it". Yet, if it's pending, some indeed won't want to waste their time, energy and at $4 per gallon, gas to come look at a home they probably won't have an opportunity to purchase. Is it fair to the Buyer to not let them know a listing is Pending? Some foreclosure companies demand their listings are not changed until sold, never showing an offer was in place.
Our NAR Code of Ethics says in Standard of Practice 3-8, "REALTORS® shall not misrepresent the availability of access to show or inspect a listed property. (Amended 11/87)". Wouldn't leaving a listing marked Available when there is an accepted offer on it go against our Code of Ethics?
It also says in Standard of Practice 12-8 that the "obligation to present a true picture in representations to the public includes information presented, provided, or displayed on REALTORS®’ websites. REALTORS® shall use reasonable efforts to ensure that information on their websites is current. When it becomes apparent that information on a REALTOR®’s website is no longer current or accurate, REALTORS® shall promptly take corrective action". (Adopted 1/07) which I would think includes our MLS websites so by not updating the listing to Pending could violate the Code yet again.
I am not an attorney nor do I profess to know all current real estate law but I do have a very good sense of right from wrong and not changing a listings status when put under contract just seems wrong.
The very First Article of our Code of Ethics says "When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, REALTORS® remain obligated to treat parties honestly. (Amended 1/001) Wouldn't knowingly leaving a listing marked with an incorrect status be a touch dishonest?
I am not here to judge but think our jobs would all be easier if we just followed a few basic rules that should be followed by everyone including foreclosure sales. Most of us do the best we can to be as open and honest as we can while a few don't even apologize for their behavior. I would hope as Professionals we wouldn't need "Listing Police" to monitor each other. Until a better system is made we will continue to work as best we can with one another, knowing some play by different rules, but doing the best we can to represent our clients in an honest and ethical manner. Thanks for reading.
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