Data integrity is a high priority at Realcomp ... that's because we understand it's a high priority for you.
As such, Realcomp's MLS Policies require Realcomp REALTORS® who have long-term pending listings (those that have remained in that status for more than 120 days) to notify Realcomp that they are still pending (every 30 days) or to update the listings to their new proper status (i.e. sold, back-on-market, etc). Additionally, we recognize that short sales and new construction listings typically take longer to close than other types of listings. That is why these listings may remain in the pending status for 180 days (rather than 120) before the requirement to notify Realcomp applies.
To notify Realcomp that your pending listings are still pending, simply follow the steps outlined in the following tip sheet:
Long-Term Pending Listing Notification Process.
If they are NOT still pending, simply update them to their new proper statuses.
By completing the steps in the tip sheet, you are in fact notifying us that the listings are still pending. These steps must be taken once every 30 days until your listings have closed (or are updated to their proper statuses). Taking no action at all will result in a fine of $37.50 being assessed (per pending listing).
Realcomp assesses these types of fines only to influence MLS Subscribers to update their listings and to keep them accurate. However, the fines are easy to avoid -- by following the steps in the tip sheet.
We hope this information is helpful to you. Please feel free to contact Realcomp's Customer Care at (866) 553-3430 with any questions you may have. We are here to help!