On January 28, 2021, the Board of Directors approved the following recommendations from the MLS Committee to amend the MLS Rules, as outlined below, and are effective immediately. For questions, please call 423.698.8001 and ask to speak with MLS Director Tonya Bell or MLS Coordinator Rheta Beck.
As outlined below, the MLS Rules, Section 1.2.6. Listing Status Definitions for Closed was amended to clarify and confirm the proper use of “closed” status:
Closed: A closing is determined to have occurred when either the (1) deed on the listed property has been recorded, or (2) all necessary signatures have been obtained on the settlement statement (or a lease agreement) and payment of purchase price. Days on Market cease to accumulate.