Question

An agent has successfully negotiated a sales contract. Because he is the listing agent, multiple listing service (MLS) rules require him to A) notify the MLS of the status change. B) give a copy of the signed contract to the MLS. C) pay additional MLS fees because of the negotiated contract. D) give a copy of the signed agreement to the broker.

Answer 1

Answer: A) notify the MLS of the status change

Explanation:

The Multiple Listing Service (MLS) is a platform that serves to connect Real Estate professionals and the properties they are trying to sell that way they can each market the other's properties and increase the reach of the listing.

As the listing agent of a property, the agent was the one who posted the listing on the MLS and so when the property is sold, the agent should contact the MLS and let it know that the property has been sold so that they may take appropriate action.