‘Registered’ status gives home sellers more marketing options – Orange County Register

The California Multiple Listing Service has developed a variety of new options for how home sellers market their homes.

Last May, CRMLS began offering “Coming Soon” deals that allow sellers to share the functions of their home before they are ready for the demonstrations.

And in August the listing service introduced another feature: the “Registered” status.

Typically, the Registered status is used after you’ve selected your agent and set all the details on their price and terms. You’re not quite ready to have the photos taken and welcome shoppers to visit.

To qualify as a Registered Listing, a valid, fully executed listing contract must be in place for the property and the seller must agree that the property will not be actively marketed.

Additionally, commissions cannot be publicly offered while a property is Registered, and demonstrations are limited to clients of the listed broker. On the other hand, the clock, which measures how many days a house has been on the market, does not start while a house is in the “Registered” status.

For home sellers, this is another way of getting your intent to sell to at least a small audience – the brokerage firm your broker is affiliated with.

Technically, your agent owns the California real estate license, and any registered listings that fall under that license can be shared by all of the agents under their umbrella. This means that registered listings can be promoted at broker office meetings and in closed social media groups limited to the brokers and their licensees.

In contrast to the “Coming Soon” status, there is no limit to the length of time an advertisement can remain in the “Registered” status. And unlike soon listings, registered listings are not available to all CRMLS members.

In contrast, showing a Coming Soon list is strictly prohibited, even with a signed agency disclosure. But a registered listing can be shown to a customer within the listing brokerage. And sellers can review, negotiate, and even accept offers while in Registered or Coming Soon status.

Of course, there is a risk that you will not get as much cash if you accept an offer before moving to Active status, where your property is exposed to the full MLS and receives the greatest possible promotion. But you can save stress and sell faster, especially in a hot seller market like we have now.

For Buyers: If your broker is part of a brokerage firm that shares information about registered offers, you have a glimpse of opportunities that are only available to a relatively small number of people.

For brokers, this means that you need to keep up to date with the registered offers in your brokerage company. And if it is not common practice for your broker to share this information, I would ask why? And can I get an update of our registered entries once the information has been entered into CRMLS?

If you find a registered listing that is eligible for any of your buyers, you will need to provide a signed agency disclosure along with all COVID-19 papers along with all COVID-19 papers before you can show it.

When vendors consult agents to list their home, they should discuss how registering their listing might fit into their timeframe, marketing scheme, and how it could be used to their advantage either alone or in conjunction with Coming Soon status.

Leslie Sargent Eskildsen is Realty One Group West’s agent. She can be reached at 949-678-3373 or [email protected].