Result of Proposed MLS Rule & Coming Soon Policy

Thank you to the MLS Participants who cast their vote regarding the proposed change to the MLS rules involving the Coming Soon issue. And, thank you to all MLS Subscribers who weighed in on the matter through conversations with their brokers, KAAR leadership and staff.

Following certification by the online voting vendor, the result is 91 in favor of the proposed change, 68 against. The proposed rule change passed. The rule change will require certain programming modifications to be made to the flexMLS system before it becomes effective. Flex estimates this may take several weeks. As soon as the programming changes are complete, MLS Participants and Subscribers will be given advance notice of the new rule's effective date.

MLS Rules Section 1 LISTING PROCEDURES: Listings of real property of the following types, which are subject to a real estate broker’s license, and are located within the territorial jurisdiction of the Multiple Listing Service of the Knoxville Area Association of REALTORS® taken by Participants on an Exclusive Right to Sell or an Exclusive Agency Listing Contract, which offers cooperation and compensation to the other Participants of the Multiple Listing Service, shall be delivered to the Multiple Listing Service within 2 business days after all necessary signatures of Sellers have been obtained and list/effective date. A Coming Soon status listing is required to be entered into the MLS System for up to 14 calendar days prior to listings being ready to market. No showings shall be allowed and a Pre-Marketing Addendum must be signed by the seller and submitted to the Association upon request. A Coming Soon listing status will automatically become Active on the 15th day and DOM will then begin to calculate.