Listing agent won't list the home as pending, even though we have been in escrow for more than 5 days. Is this a problem?

Asked by formanet, Brooklyn, NY Tue May 7, 2013

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7
Barbara Gran…, Agent, Anaheim, CA
Tue May 7, 2013
Hi Formanet,

As Bill said, many agents do not put it as a pending sale until all contingencies are removed. I don't necessarily agree with this policy but if you are under contract it should not be a problem. Have you specifically asked the agent her/his reasons for not listing it as a pending sale?

Best of luck,

Barbara Grandolfo
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue May 7, 2013
If you are in a fully executed contract, signed by all parties and deposit money was exchanged, the document needs to be honored; however, no reason for the agent not to change the property status.
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Tue May 7, 2013
Dear formanet:

I do not know if I would call it a problem, but it definitely defies logic and the agent should report it.

If the seller is already contractually obligated to you I would not worry about it. More importantly, make sure you follow through with your contractual obligations to meet the mortgage contingency deadlines and closing deadlines and any other contingency that is described within your contract of sale. If you do that the seller will not be able to get out of the deal and you will just close regardless if the agent reports the contract or not.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
Bill Eckler, Agent, Venice, FL
Tue May 7, 2013
Did you get an explanation....right or wrong, there's usually a reason!

There are varying views on this. Some locations and/or agencies don't change the status to pending until all contingencies are met....inspections, finance, legal review, etc. Their feeling is that to change it to "pending" would be to essentially remove it from the market because most buyers would not be interested in seeing a property that already has a contract on it.

Bill
0 votes
Felix A. Gar…, Agent, staten island, NY
Tue May 7, 2013
I'm not sure what you mean by pending, but different areas have different ways of changing the status of a listing...for instance some areas change the status just when they have an accepted offer and some areas wait until the deal goes into contract before changing the status, every MLS board has there own rules regarding the change of status so if your not sure then you should consult your realtor that's representing you.Now if your the buyer and you don't have representation then you should consult the board for that particular listing.


Thanks Felix
(917)692-7702
0 votes
Gail Gladsto…, Agent, 11743, NY
Tue May 7, 2013
Formanet,

I will have to "assume" you are the buyer and (different areas use different terminology) I will again have to "assume" by escrow, you mean in contract.

Scenarios:

1. If you are the buyer, have your Realtor contact the other Realtor or the listing agent's Broker.
2. If you are the buyer, have your Realtor's broker contact the Broker of the listing agent.
3. If you are the buyer and not represented, call the listing agent's broker yourself.
4. If you are the seller and your Realtor is not complying with your wishes, call their Broker.
5. If you are the selling agent, have your broker call the listing agent's broker.

If you are in contract, the listing agent may be using the listing as a way to attract more buyers so they can get more deals. Is this legal? It is definitely not moral.

I personally do not like it, no matter what the reason and I believe it may be in defiance of MLS Rules and Ethics.
0 votes
Madeline Pad…, Agent, Brooklyn, NY
Tue May 7, 2013
Hi - until you have a fully executed contract we generally do not change the status of a listing.
0 votes
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