New Construction Cheat Sheet

• New Construction listings subject to a listing agreement, blanket listing agreement, or master listing agreement must be entered into the MLS within three (3) days of the seller’s ratification of the listing agreement or submitted to CVR MLS in accordance with Section 5.9 of the CVR MLS Rules and Regulations.

• New Construction listings may be entered into the MLS within seven (7) days of the ratification of the purchase agreement.

• New Construction/To-Be-Built Properties may be entered into the MLS as both a Single Family and Lot/Land listing. The Listing Agent is responsible to maintain both listings accurately and in accordance with the CVR MLS Rules and Regs. o When one of the listings goes under contract, the other listing must be put in a Temp Withdrawn status within five (5) days of the contract ratification date. o Once the pended listing has closed, the other listing must be placed in a Released status within seven (7) days.

• Listing information on New Construction listings may be changed up until closing.

• The list price on New Construction listings may be changed up until closing.

• Days On Market (DOM) do not accrue while New Construction listings are in an active status.

For more information, please refer to Section 5.30 of the CVR MLS Rules and Regulations.

Still have questions? Email us at [email protected] or call us at 804.422.5002.