MLS Question

If you were an Asset Manager / Bank and your listing agent's MLS changed their requirements so that all listings, including REO had to have the deed recorded at the courthouse before the property could be listed in the MLS, what you do?  If you had another avenue to go, what would be your best options?  All input will be appreciated.

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  • I have some clients, usually the smaller ones, who wont list the house until they have the deed, also USRES works that way.
  • In the State of Ga, a seller cannot legally sell a property unless the deed is recorded. And I always check this before listing an REO and have all me team members check if they are working with buyers before writing an offer. So far we have not had a problem but our MLS's do not require it.
  • My experience with this type of situations is that some condo building wont allow me access until the deed is recorded, I have one condo on hold since last summer, and my asset manager understands that.
    • Hi Jose - Yes, we too have that issue here with condos also. I usually show them the foreclosure paperwork and they allow me access with that.

      I'm just wondering how banks would react if their listing agents couldn't list a property in the MLS until the deed is recorded. And if the property couldn't be listed in the MLS what other avenues they would allow us to do or if there is something they would suggest to an MLS so this doesn't become an issue.
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