Marking a listing sold in the MLS is important but doing it correctly is equally important and SAVES EVERYONE TIME AND ENERGY! We get a lot of questions about why agents haven’t been listed as the selling agents.
A couple of terms that ALL agents need to know:
Listing Agent: The agent entering the listing in the MLS.
Selling Agent: The agent who brought the buyer.
These same agents go by other terms in other contexts – Showing Agent, Buyer’s Agent, Buyer’s Rep, all typically refer to the Selling Agent.
Remember, we use the terms on the contract – Listing Agent and Selling Agent.
Please remember, unless you acted as an intermediary, you are not the “Selling Agent” as far as reporting the sale in Rapattoni. The agent who brought the buyer to the transaction is considered the selling agent.
If you are part of a Team and are representing the Buyer (therefore making you the Selling Agent), it is up to you to communicate with the Listing Agent (Seller’s Agent) how you want the Sale to be reported in Rapattoni. For example:
Some teams prefer to have ONLY the team owner to be listed as the Selling Agent, even if that person had nothing to do with the sale.
Some teams prefer to have the team owner as the Selling Co-Agent, and the team member who represented the buyer to be the Selling Agent.
Some teams prefer to have the team member who represented the buyer to be the Selling Agent and not have the team owner listed anywhere.
All three ways are acceptable because the Selling Office pulls the Ranking Report differently. The problem arises when the Selling Agent’s team prefers to have the team owner listed as either the Selling Co-Agent or the ONLY Selling Agent, and the Listing Agent (or the person maintaining their listing) does not know that preference.
It is vital for the Listing Agent to let their administrative people know who to enter as the Selling Agent and if a Selling Co-Agent should be used, because once the listing is marked “Sold,” Tonya is the only one who can make changes to the listing.