Comparable Sale Policy

Comparable sales of the following types may be entered into the Cape Cod & Islands Multiple Listing Service, Inc. (CCIMLS) system by use of the Comparable Sale property type.

1. Office Exclusive Listings*
Listings where an exclusive listing agreement has been signed and the seller opts out of dissemination of the listing through the MLS for the duration of the listing agreement period.

• May be entered by the listing agent with the seller’s written consent.

2. Listings Sold Prior to Public Marketing*

Listings where a seller has signed an exclusive listing agreement with the intention to market the property to other brokers inside and outside the listing firm, but a fully executed (accepted) offer has been received prior to publicly marketing the property.

• May be entered into the MLS by the listing agent using the exclusive listing agreement as consent.

3. Buyer Agent Represented Property Not in CCIMLS
Listings that were For Sale By Owner (FSBO), listed by an agent in an ‘other’ MLS, or where there was no exclusive seller agreement signed but whereas a member of CCIMLS represented the buyer in the transaction.

• Properties where there was no seller agreement signed may be entered by the buyer representative with the seller’s or buyer’s written consent. For property listed by an agent in an ‘other’ MLS, consent is required from the listing agent and seller of the property and it is recommended that the information entered be confirmed by the listing agent. The buyer representative shall confirm all information entered into CCIMLS is accurate to the best of their knowledge. If it is found that the property not in CCIMLS should have been entered into the CCIMLS listing software based on the CCIMLS Rules and Regulations, the consent of the listing agent is not required.

In addition to the above Comparable Sale types that will be accepted, the following additional rules shall apply:

• Credit for comparable sale listings should be given to the appropriate listing agent and buyer representative, i.e. the CCIMLS member OR Comparable, Sale (CS001).

• Comparable sales of the above types may be listed in the MLS within 1 calendar year of the closing.

• Agents that have an expired property in the MLS may have CCIMLS staff update the listing to Pending or Closed within one year of expiration, given they can provide a copy of the signed offer or P&S and the property has not been marketed by any other agent. After one year these properties may be entered as a comparable listing with the written consent of the seller.

If a property expires due to the incorrect use of statuses, the appropriate steps will be taken as outlined in the MLS Citation Policy.

• No property shall be entered as a comparable sale if a CCIMLS participant or subscriber was not on one of the two sides, listing agent or buyer representative.

• Agents entering comparable sales into CCIMLS are required to pend the listing using the appropriate pending date prior to marking the listing closed.

• Only listings within the mandatory listing area shall be accepted into CCIMLS as a comparable sale.

• Only listings of the following property types may be entered as a comparable sale:

Residential
Multi-family
Land
Commercial

• Comparable sales shall include a minimum of 1 exterior front-facing photograph for the appropriate property type, as outlined in the CCIMLS photo policy.

• The listing agreement or seller’s written consent shall be attached to all Comparable Sales as the required listing agreement.

• All comparable sales are required to have a list date.

• All comparable sales are required to have an expiration date, which should be the original expiration date agreed upon with the seller(s). FSBO’s or those without a seller agreement should use the closing date.