Statement From Stellar MLS CEO Merri Jo Cowen
To our valued Stellar customers:
As we continue to monitor the latest updates and information about the COVID-19 pandemic from medical and government officials, we are taking appropriate measures to ensure we safeguard the health of our employees and preserve our ability to operate and keep serving you. Stellar MLS will continue to work alongside your local boards/ associations and industry partners to provide resources and solutions to help you navigate through these unprecedented times...
Merri Jo Cowen
CEO, Stellar MLS
The Latest Updates From Stellar MLS
Stellar MLS is committed to providing quality data to help brokers and agent make business decisions. We are monitoring the impacts of COVID-19 and continuing to make adjustments to our operations and systems to help real estate professionals navigate the market.
Stellar MLS leadership has updated Article 4.6 Listing Remarks in the MLS rules to...
Stellar MLS leadership has confirmed that there are no plans to suspend...
Monday, March 23, 2020
To Our Valued Customers:
At the request of Florida’s Surgeon General and the Florida Realtors® organization, and review by the Stellar MLS leadership team...
Learn From Home with Stellar Training
New Webinars: How To Sign Up
In lieu of in-person classes, Stellar trainers will be offering live webinars on a variety of topics to help your business on Tuesdays and Thursdays, and live webinars for required training classes on Mondays and Wednesdays.
Sign up for webinars by logging into your Stellar Dashboard and clicking on "Class Sign Up." Once you are in the education portal, click on "Enroll" to register for classes you are interested in.
Additionally, required classes are always offered online through self-paced courses and can be accessed through Stellar University.
Listing Strategies in the Time of COVID-19
Your sellers and buyers are likely looking to you for guidance on how to navigate buying and selling homes during an uncertain market gripped by Covid-19. We’ve outlined MLS status options and tips for listing and showing properties to support your business continuity.
Sellers Who Want to Remain in Active Status
- Note: In order for the listing to remain active, showings must still be available per MLS rules. Virtual showings are now being permitted temporarily in place of in-person showings. Click here to learn more.
- You can restrict the showing schedule by adjusting your settings in ShowingTime. Download: Stellar MLS ShowingTime Guide.
- Days on Market will continue to accrue.*
- Listing distribution will continue to third-party portals (if authorized by broker).
- Refer to Covid-19 precautions from NAR ®: Coronoavirus Guide for Realtors®.
- Supplement a restricted showing schedule with an enhanced virtual tour. Check out the Stellar MLS virtual tour options available through Property Panorama and RealBiz Media.
- You are permitted to add comments regarding the TOM status as it relates to Covid-19 to the various remarks fields within Matrix. Sample remarks: TOM status currently due to Covid-19 precaution. Call listing agent for details.
Sellers Who Don’t Want Showings Right Now
- Use the Temporarily Off Market (TOM) status in Matrix to transition your listing from Active status and stop showings. You must have written approval from your seller to use this status (email is okay). Download: TOM Instructions.
- No new public marketing is allowed for TOM properties. You do not need to take down a sign that is already up or delete former social media posts but cannot create new marketing.
- Days on Market will pause.*
- Listing distribution will stop.
- Showings are not permitted in the TOM status. You can quickly put the property back to Active status in Matrix if your seller wants to resume showings at any time.
- You can toggle between TOM and Active statuses in Matrix to accommodate your seller as needed.
*Read the statement from MLS leadership regarding DOM calculations here.
Tips for Working with Buyers
- While listings that are in the Active status are available for showings, the showing availability may be reduced by the seller. Be sure to ask the listing agent about virtual tours or live-stream viewing events for your buyers.
- Encourage your buyers to meet with you through video calling services instead of face-to-face, and to submit their paperwork to you electronically with your MLS transaction management tools including Remine and TransactionDesk. Bonus tip: Stellar trainers will be offering online webinars on these topics and more, see what’s being offered on your Stellar Dashboard by clicking on “Class Sign Up.”
The Latest Updates from Florida Realtors
Florida Realtors released a new contract extension addendum that allows for time periods and dates to be extended as a result of the COVID-19 pandemic.
In Form Simplicity the form can be located at: Blank Forms > Florida > COVID-1
In Transaction Desk the form can be located at: Individual Forms > FR Miscellaneous Contract Addendums and Supplements > Coronavirus (COVID-19) Extension Addendum to Contract (COVID-1)
The Latest Updates From NAR®
There are no plans to change the way that Days On Market (DOM), either average or cumulative, is calculated. Our MLS leadership believes the integrity of the data is paramount and has confirmed that there will be no changes to the way DOM is calculated for active listings.
As a reminder, using the Temporarily Off Market (TOM) status will ensure that the DOM count is paused. TOM is also the status to use if there are any concerns regarding showing availability. Learn more about using the TOM status here.