MLS implements policy changes to AWC status
Friday, December 13, 2013
My Florida Regional Multiple Listing Service has implemented new policies for "Active with Contract" (AWC) listings, as of Tuesday, December 17.
According to MFRMLS, the changes are necessary due to "many AWC REO/Banked Owned listings and AWC listings that arenot taking backup offers being displayed through RETS feeds and causing confusion when potential buyers inquire about the properties only to find out they are not actually available."
Policy changes include:
*REO/Bank Owned properties that are AWC willno longer be included in public-facing data feeds (i.e. syndication channels and IDX websites).
*Other AWC listings that are not taking backup offerswill alsono longer be included in public-facing data feeds.Listings in either of the above categories will still be searchable inside of the MLS database.
*There will be three new fields, in regards to AWC:Backups Requested Y/N- This field replaces the Back-ups Requested pick-list option found under Contract Status and will be required when AWC status is used unless the property is REO/Bank Owned.
AWC Internet Y/N Field - This field will be used to indicate whether the listing will be available in public-facing data feeds and will not be editable. The field being marked as either Yes or No will be determined by the combination used in the Status field and either the Backups Requested Y/N field or when Special Sale Provision = REO/Bank Owned.
AWC Remarks - This field is being added to assist with ensuring the proper verbiage is added to the listing when the AWC status is selected. The field will be placed in front of the current Public Remarks field on all MLS reports. IDX websites will soon also have this field added so the proper information is available to the public as well.
There are two uses for the AWC Remarks field. The field will automatically populate with the words "AWC – Taking Backup Offers” when Status = AWC and Backups Requested = Yes; or, the field will automatically populate with the words "AWC – REO/Bank Owned” when Status = AWC and Special Sale Provision = REO/Bank Owned.
Questions? Call, e-mail, or chat with MFRMLS