Definition of “Effective Date” of a Listing Agreement
The Effective Date for a Listing Agreement is when all owners of record and the Broker have signed the Listing Agreement, and the Term of the Agreement has begun. For example, a Listing Agreement is filled out with a Term beginning June 1, but the Listing Agreement is signed by all owners of record and the Broker by May 25. The Agreement becomes effective on June 1. If a Listing Agreement is filled out with a Term beginning June 1, but either the owners of record and/or the Broker do not sign it until June 5, then the Agreement becomes effective on June 5.
A Listing Agreement becomes “active” upon the “effective date” of the Listing Agreement, for purposes of determining the 48 hour rule that the listing information is to be entered into to the SCRMLS or if not, a Waiver form is submitted to the SCRMLS.
In the event the Owner of record chooses to Waive their property from the MLS, or to temporarily withhold their property from the MLS for a specific period of time, the Owner of record, the Listing Broker and Qualifying Broker must all sign the appropriate Waiver Form and submit it to the SCRMLS within 48 hours of the Effective Date of the Listing Agreement.
Under the new MLS Clear Cooperation listings must be entered in the MLS within 1-day of public marketing of any listings. Unless, you have an executed waiver form. See below:
Temporary Waiver: Click here
Office Exclusive: Click here