The state of Massachusetts is served by a Multiple Listing Service (MLS) called MLS Property Information Network, or MLS PIN. MLS PIN is the largest Multiple Listing Service in New England and one of the largest in the nation, offering a database of more than 38,000 properties for sale and rent and more than one million off-market listings, as well as full public records for all of Massachusetts, Rhode Island, and other areas of New England. MLS PIN has recently announced three (3) system updates that help for sale by owners (FSBO) or those selling their home without a Realtor.
New Contingent (CTG) Status Available
The new CTG status has officially been released. It is the hope of MLS PIN that with the launch of this new status type, it meets the needs of those listings that have accepted offers but are continuing to show for additional offers, while eliminating some of the issues associated with the abuse of a deprecated status type called Active with a Flag that was banned from use earlier this year.
Contingent (CTG) Status: A property for which an offer has been accepted, but which the Owner has requested it still be listed in the Pinergy system for backup offers, has a status of “CTG.” A Contingent property must meet one of the following conditions: Inspection, Attorney Review, Appraisal, Financing, Third-Party Approval, Pending P&S.
There are currently seven (7) different on-market status types for properties in the MLS PIN system.
Longer MLS Property Descriptions
MLS PIN customers will now have twice the space to market their properties with the doubling in size of the “Public Remarks” allotment to 1,000 characters. This change will allow FSBOs in Massachusetts to provide long, feature rich descriptions that buyers love to read. That’s more space to describe the waterfront amenities, or the butcher block counters, or simply to spell out those tricky abbreviations.
New “Date Available” for Rental Searches
Finding the right rental property is about to get easier–at the Cape, downtown Boston and elsewhere! The Date Available field is currently available for all Rental listings, but soon it will be required to select that the rental is available now, or a date of availability. Starting in mid-July Massachusetts real estate brokers and agents will also be able to search MLS PIN by Date Available to hone in on pertinent properties.