It is my opinion that all homes should be sold exactly the same way the banks are selling their stolen real estate.
No binding contingencies
Best offer and terms accepted.
There's no one to blame but the buyer.
Contract signed...you've bought the house. The end.
What the writer does not make clear is 'where' the buyer is looking to see a faulty status.
If this faulty status appears on entertainment websites, not a problem. It's after all an entertainment site where guesstimates and values float on clouds of fantasy.
The serious buyer always has the option of using reliable resources that connect to the local MLS. They ALWAYS have this choice. Should they choose to get their decision making information from reality shows or entertainment websites, that is the liberty they have. They need to understand the data they are view HAS been altered from it original, accurate, accountable content. When they complain about the data, the must be reminded of the choice they made.
Most MLS's will have rules in place regarding the status when a offer is ACCEPTED by the owner. Until it's accepted, it a verbal offer...not quite worth talking about.
Buyers have many choices. That's a good thing.
"..........Listings with accepted offers shall be reported to the MLS or input into the MLS database as â€œpendingâ€ or â€œback-upâ€ within 2 business days of the acceptance by the listing broker unless the negotiations were carried on under Section 9.1 (a) or (b), in which case, the cooperating broker shall notify the listing broker of the â€œpendingâ€ status within 2 business days after acceptance, whereby the listing broker shall then report or input the status change to the MLS within 2 business days of receiving notice from the cooperating broker..............."