Why Should I Consider Submitting a Comparable Sold Listing to the MLS?

Submitting a sold listing to the MLS for comparable purposes can be valuable for various reasons, such as to obtain attribution for the sale, to provide a good sold comp for CMAs, appraisal purposes, etc. This article provides information on the requirements for submitting a sold comparable listing to the MLS, as well as step-by-step instructions on how to enter a sold comparable listing into the MLS system. 

What are the Requirements for Submitting a Comparable Sold Listing?

There are three main requirements for submitting a comparable sold listing to the MLS, which are:

• Your brokerage must have been a party to the transaction, representing the buyer or the seller.
• You must provide written permission from the current owner of the property to add the sale to the MLS.
• You must provide a Settlement Statement or other closing documentation which shows the relevant sales information and your brokerage as a party to the transaction.

How do I Enter a Sold Comp into the MLS If I Represented the Buyer?

1. Enter and submit the listing to the MLS like you would enter any other listing.

Note: The Effective Date of the Listing Agreement should be entered as the date the property went under contract.

2. Once your listing is published, immediately change the listing to the Under Contract status, and then immediately change the listing to the Sold status.

3. After marking the listing as “Sold,” please send the following information to memberservices@utahrealestate.com within three (3) business days of entering the listing into the MLS:

• The MLS# of the listing
• A copy of the written permission from the current owner of the property
• A copy of the Closing Documentation

If you need any assistance, please contact our Member Services Team at 801-676-5400 (option 2) or memberservices@utahrealestate.com.