Having a sold MLS® System listing collapse is frustrating and determining what to do next can be confusing.
The following steps will help you manage this process:
- Determine if the listing agreement for the property has expired.
- If there is still time remaining on the listing agreement, the property will simply revert to Active on the MLS® System. Because DOM are linked to the listing date on the MLS® System, the DOM will continue to accumulate from the start of the listing.
- If the listing agreement has Expired prior to the sale collapsing, you will need to execute a new listing agreement with your client. You can then re-list the property.
- Contact CREB® to report the collapsed sale. CREB® will then have that collapsed sale information removed from the listing history.
If you have any questions or concerns regarding this process, please contact Member Practice at mp@creb.ca or 403-781-1336.
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