7/26/10 - New Listing Field ‘Continue to Show = Yes or No’ Coming
New Listing Field ‘Continue to Show = Yes or No’ Coming
The status on properties involved in short sales should be changed to ‘Contingent’ when a contract has been received that has been forwarded to the financial institution for final approval.
In some cases if the seller does not want to “continue to show” the property, agents have been withdrawing the property temporarily (WT) from the system. Some lenders have indicated this causes a problem for them since days on market, and cumulative days on market stop calculating. Both of these numbers frequently enter in to their final decision regarding the amount they are willing to accept for the property.
To accommodate Member’s needs, BAREIS is instituting the following changes effective the morning of Wednesday, August 4, 2010.
1. The label ‘Contingent – Show’ is being changed to ‘Contingent’.
2. We have added a new field ‘Continue to Show = Yes or No’ that is required when the status is changed to ‘Contingent’.
3. A pop up will appear after answering Continue to Show Yes or No reminding you that “You may want to revise Pass to Internet in Revise Listing”.
4. If the listing changes to a status other than ‘Contingent’ later, the yes/no field will be cleared.
5. All current listings with the status ‘Contingent – Show’ will have the Continue to Show set to Yes automatically as part of the change and update.
A number of lenders are only accepting one offer at a time. Please indicate if you are still accepting offers or not in the confidential remarks when changing the listing to contingent.
Site Map Privacy Statement Board and Committees Contact Us
Bay Area Real Estate Information Services, Inc.
153 Stony Circle, Suite 200, Santa Rosa, CA 95401