Compliance Refresh - Listing Maintenance: 311 Reporting of Closings and Status Changes

311.1 The Listing Participant is responsible for the timely and accurate filing of sales and closing information with the MLS. (NAR MANDATE 2.5, NOTE2)

311.2 A status change to “Pending” must be entered into the MLS database within twenty-four (24) hours of the contract being signed by all parties.

311.3 A status change to “Closed” must be entered into the MLS database within twenty-four (24) hours of the closing.

311.4 Cancellations of contracts shall be reported by the Cooperating Participant to the Listing Participant immediately. The Listing Participant shall enter the cancellation into the database within twenty-four (24) hours. (NAR MANDATE 2.7)