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Beginning Monday, March 25, 2024 you may use the Comparable Data Entry Option (Comp Data Entry) property type to enter a property’s information that was not a listing within MLS United, but an MLS United Participant or Subscriber represented one side of the transaction. (MLS United Rules and Regulations 2.5, A)
How to enter a Comp Data Entry Property
In Residential Add Listing: You will select Comp Data Entry as you Property Type (NOTE: Comp Data Entry is ONLY available for the Residential property type)
- Reminder: This is not a listing. This is a Comp Data Entry property.
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Have your Authorization form completed and signed by the Seller and Buyer'
- Have at least one photo to be uploaded.
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You will need to make this Active, then Pend it and finally Close it out.
- If you only represented one side of the transaction, select “Comp Data Entry- (mu.compdata)” agent/office option for the other side of the non-represented party.(EX: if you represented the buyer side, then use Comp Data Entry for the listing agent information when entering the data)
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Listing Date = the date of entry.
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Expiration Date = 30 days from date of entry.
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Public Remarks: Description of the property only.
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Agent/Private Remarks: Any additional information about the property or transaction that would be of interest to those reviewing comps.
After you have added the Comp Data Entry as ACTIVE
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Upload Photos – At least ONE front facing exterior photo of the property is required, or rendering of the front facing exterior if the property is under construction/to be built.
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Upload a copy of the Comp Data Entry Authorization signed by the buyer and seller allowing entry. This is a private document. Any Comp Data Entry properties entered without an uploaded agreement will be purged from the system.
- Immediately change the status to Pending.
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Pending Date = Contract date
- After the status is saved to Pending, close out the Comp Data Entry.
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Closing Date = Closing Date
- If you only represented one side of the transaction, select “Comp Data Entry-(mu.compdata)” agent/office option for the other side of the non-represented party.(if you represented the seller side, then use Comp Data Entry for the buyer agent information)
- Reminder: Sales Notes are your friend if you need to describe anything specific to the transaction.
- Flex has created a custom Guided Help for this data entry process to help you through the entry process.
Additional Notes and Information:
- To search for Comp Data Entry properties, use the “Change Search Template” under Quick search to “Comparable Sales” and add your search criteria as normal.
- To search for BOTH Residential and Comp data Entry properties, use the “Change Search Template” under Quick Search to “Resi and Comp Sales” and add your search criteria as normal.
- Comp Data Entry properties can be pulled into your Flex CMA reports. HOWEVER, since they are a separate property type, they will appear with their own informational break out.
- Comp Data Entry properties ONLY reside within the Flex MLS system. This data is NOT included in IDX or VOW dissemination.
- Comp Data Entry properties must comply with all rules and regulations of MLS United, LLC as if they were a regular listing.
- Comp Data Entry will be available Monday, March 25, 2024.
- You may enter any Comp Data Entry properties that have closed from January 1, 2024 forward.
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As this is a new feature we are certain that you will have questions and may experience some issues. Please direct all inquiries to compliance@mlsunited.com.
We are excited to bring this new feature to you!
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