Will the MLS accept a listing that is conditional upon the seller finding a new home?
The MLS is able to accept a listing that includes the following contingency:
• In the Other Provisions paragraph of the Listing Agreement: This listing to be withdrawn if home located at ______________ (insert address) sells first.
• In the Agent Remarks field on the MLS: This listing to be withdrawn if home known to listing agent sells first.
The MLS is unable to accept a listing that is contingent upon the seller finding a home of his or her choice. That is too broad of a contingency. Although we understand that the seller might be hesitant to sell without knowing where he/she will go, the MLS is a platform only for those who are willing to commit to compensate the broker that brings them an offer that meets their price and terms. Especially in a market of low inventory where buyers could then be pursuing a property that isn’t truly for sale.