How Does It Work?
There are four Active-Pending Statuses in Paragon MLS. To see the definitions of each click here. When a listing agent changes their listing to either Active Pending – Call, Loan, House or Short Sale the Contract Date field will appear and be required before the listing can be saved. For convenience NNRMLS has moved the Contract Date field to a more visible location in the Paragon Listing Input page. Watch Our Short How-To Video Here The process for changing listings to Pending – No Show or directly from an Active status to Sold, will not be affected and remain the same as it was previously. The image below shows an example of a listing marked as Active-Pending with the required Contract Date field filled in:
If the date field is not entered an error message will appear and the listing will not be saved with the updated status until the Contract Date is entered.
Note: NNRMLS will accept the “Contract Date” as the date of the last signature finalizing the acceptance of the offer. NNRMLS does not require a specific form for this authorization, but best practice dictates that it should be on any form sanctioned for such purposes by local real estate authorities including but not exclusive of the Reno-Sparks Association of REALTORS®, Sierra Nevada REALTORS® and the Northern Nevada Regional MLS.
What Does This Affect?
At the moment, this new field does not significantly affect your Paragon experience besides requiring a date field upon making the specific status changes mentioned above. However, capturing this information helps brokers and agents find when an offer was accepted on Active-Pending listings. This data can then be potentially exported to a statistical reporting tool of the Broker’s choice. It also allows those Brokers and Agents that employ a third-party service to provide statistics in newsletters and online to provide more nuanced and accurate numbers regarding key metrics about the housing market.
Will Paragon’s Stat Reporting Section Be Affected?
No. No changes have been made to Paragon’s Statistical Reporting Section.
What Happens If My Listing Falls Out Of Contract?
When a listing’s status is changed from Active-Pending, or Pending back to a non-contingent Active status, the Contract Date is automatically removed by Paragon.
Why Did NNRMLS Make This Change?
The ability to measure up-to-the-minute metrics about the housing market have long been requested by our members and their vendors. Enabling the existing Contract Date field to capture this data for Active-Pending listings has the potential to enhance the accuracy of these metrics. The NNRMLS Team, in cooperation with its partners at Paragon MLS, is proud to be able to deliver business solutions like this to enable our members to be even more successful in their real estate businesses.