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Key Points of the Listing Procedure

It is important for the agents and office staff to have an understanding of the key points of the GAMLS listing procedure. For reference, the member broker of GAMLS has a copy of the Rules and Regulations of the listing service.

The homeowner must sign a listing agreement, which includes the seller's written authorization to submit the agreement to the Service. GAMLS listing agreements are available in the supply centers.

Agents must complete the GAMLS listing sheet for the appropriate property type. Dual members using MLS Swift Dual Entry software complete the Swift form. The listing agent certifies that the required fields of data are correct and accurate. Entry of inaccurate information may result in the assessment of a fine of $25 per incident plus $5 per day until the correction is made. Since the broker is a member of GAMLS, all office single family and multifamily listings must be entered into the system. The listing sheets and change forms are also available on the GAMLS web site.

The listing must be entered into the GAMLS computer system within 48 hours after obtaining the necessary signatures (excepting weekends, holidays and postal holidays) or be subject to a fine. The listing agent then uses the change forms to submit the pertinent listing changes.

When a contract offer is accepted, the status of the listing must be changed in the computer system to under contract within 24 hours after accepting the necessary signatures (excepting weekends, holidays and postal holidays) or be subject to a fine. The listing agent reports the projected closing date of the sale. This date will set up a tickler system. The listing agent is expected to maintain accurate projected closing dates. If the projected closing date passes and the listing remains in under contract status the listing agent is subject to a fine.

When the sale is closed, the listing must be changed to sold status within 24 hours (excepting weekends, holidays and postal holidays) or be subject to a fine.

If a pending sale's contract is terminated the listing must be changed to the appropriate current status within 24 hours or be subject to a fine. The fine for the noncompliance of these policies is $25 with a $5 per day charge after notification of noncompliance.

Listing Clarifications:

• Properties may be entered in only one property type.
• New construction listings can be submitted as soon as the footings have been poured and no later than the completion of the interior painting.
• Mobile homes may be listed in the service only if the land is included.
• Commercial listings must include real property.

Entering commission information:

Based on the listing agreement, the commission is expressed as a percentage of the gross selling price or as a definite dollar amount. The commission field will accept either type of entry. Enter only the commission to the selling broker. To enter a percentage, enter just the percentage with the decimal point if needed. For example, enter 3 and the commission will display as 3.00. Enter 3.5 and the commission will display as 3.50. Enter the flat dollar amount like 8000 and the commission will display as 8000.00.

Remark lines: Remarks lines 1-3 display with the listings on the public sites.

All stated fees and fines are subject to change.

Listing Entry Tips

Changing a listing to Under Contract Status:

To change a listing to Under Contract status, you will need the following information:

• Off Market Date (OMD)
• Selling Agent's ID (SA)
• Selling Broker Office ID (SO)
• Projected Closing Date (PCD)

To find the selling agent's MLS/Xplorer User ID and Broker Code, click on the Agent/Office Search select Agent Search enter the selling agent's last name enter the first initial of the first name if the last name is common. Click the View folder tab and select the Agent by NM format. Identify the correct agent and note the ID and the Office ID (OfID). If the selling agent is not a member of MLS, enter NONMLS for selling agent's ID and broker code.

Extending the Expiration date of a listing in Under Contract status:

• If the listing period of an Under Contract listing is about to expire, the XD date must be extended. After the listing agent gets the contract extension signed by the homeowner, go to Listings on the RE/Xplorer 2.3 menu, then Modify.
• select Change Listing
• Look up the listing
• select Under Contract from the choose status drop down menu
• enter the new XD expiration date
• click Save

A confirmation screen will display.

Changing the Projected Closing Date (PCD) in a listing in Under Contract status:

is a system program that monitors closing dates. If a listing in Under Contract status remains in UC status after the projected closing date has passed, the listing agent, listing broker, and the office secretary will receive a message when they sign in to MLS/Xplorer. The user must take action or a fine will be imposed. If the listing has closed, change the status to Sold. If the projected closing date has been extended, change the PCD in the listing to the new date.

• click on the Listing Maintenance button
• select Listing Entry/Change
• select Change Listing
• enter the MLS#
• select Under contract
• click Form
• enter the new PCD
• click Save

A congratulation screen will display confirming the change.

Extending the Expiration date of a Market Active Listing:

Extend Status:

To extend the expiration date of a listing in Active, Reduced, Increased, Contingency w/Kickout or Back on Market status,

• click on the Listing Maintenance button
• select Listing Entry/Change Listing
• select Change Listing
• enter the MLS#
• select Extend listing
• click Form
• enter the new XD expiration date
• click Save
• A congratulation screen will display confirming the change.

You cannot extend a listing that has already expired. You must change the status to Back on Market and enter the new XD expiration date. A listing may not be changed to Back on Market status if it has been expired for more than 30 days. You must enter a new listing.

You can not change the expiration date to a date prior to its current expiration date. If you are attempting to do this to correct an error, please call GAMLS at 770-493-9000
If you are attempting to do this because the homeowner wants to take the property off the market, you must have GAMLS withdraw the listing. See your change status form for information or call MLS at 770-493-9000.

Changing a listing to Sold Status:

A listing must be in Under Contract status before it can be changed to Sold status. You will need the following information in order to make the status change:

Closing Date (CD)

Selling Agent's ID (SA)

Selling Broker Office ID (SO)

Financing code (FIN)

Seller's contribution to points and closing costs ($) (SCD)

To change the status of a listing to Sold,

• click on the Listing Maintenance button
• select Add/Change Listing
• select Change Listing
• enter the MLS#
• select Sell listing
• click Form
   

The selling agent's ID and Broker code will already be present because it was entered when the listing was placed in Under Contract status. Enter changes if necessary.

• enter the closing date
• select the financing code from the display list
• enter the seller's contribution to point and closing costs in a dollar amount. This is found on the closing statement.
• click Save
• A congratulation screen will display confirming the change.