Clarification on Recent Article in Texas REALTOR® Magazine

In a recent article written by Texas REALTORS® related to the practice of Coming Soon marketing, reference was made regarding showings and the Coming Soon status. Please be aware that the NTREIS Rules and Regulations prohibit the showing of a property while the property is listed in the MLS under the Coming Soon status. Texas REALTORS® responded to our request for clarification with the following response:

“The article is an overview of the Clear Cooperation Policy and the coming soon status in general. It is up to each MLS to adopt and define the coming soon status and whether such status will allow for showings. Neither NAR nor Texas REALTORS® determines those aspects. Compliance and enforcement are conducted at the local level and not at the state level. Texas REALTORS® will add a disclaimer to the online version of the article that recommends the reader check their local MLS for specific rules on a coming soon status, if applicable.”

As a reminder, Section 7.31 of the NTREIS Rules and Regulations states the following:

“A Listing Participant may enter a Qualified Listing into the MLS using the COMING SOON Status. The Listing Participant who files a “Coming Soon” status warrants that (a) the Listing Participant has a Qualified Listing with the Seller, (b) the Seller has requested that the property be withheld from the MLS for a stated amount of time and for a stated reason (ex: to prepare the home for showings, needed repairs, legal matters) and (c) Seller authorizes entry in MLS under the “Coming Soon” Status during the “withheld” time period. A listing may remain in the COMING SOON Status for not more than thirty (30) days. Once the listing has been in the COMING SOON status for thirty (30) days the listing must be changed to Active prior to change to any other status in accordance with these Rules. If no status change is made after thirty (30) days, the listing will automatically enter the TOM (Temporarily Off Market) status based on the original entry timestamp. A property may not be refiled in the COMING SOON status until a period of one year after the original date of filing in the Coming Soon status or until there is an ownership/tenant change whichever occurs sooner.

“NOTE: The COMING SOON status is not intended to give the listing broker an advantage in finding a buyer for the property to the detriment of cooperating brokers or to circumvent the selling of the property on an open market. Showings of property in the Coming Soon status is prohibited. The intended use of this status is to provide a vehicle for subscribers to notify other subscribers of properties that will be made fully available for showing and marketing after preparations have been completed.”

Feel free to contact MetroTex MLS Director, Cathy Faulkner, with any questions.