News

Broker Assisted vs Comp Only Sales: What’s The Difference?

It is easy to understand why some customers get confused when entering an “outside MLS” sale into Matrix. Is the transaction considered a “broker assisted sale” or a “reported for comp only sale” as contemplated by the MLS Rules and Regulations? Both are designed to allow for sales credit and added comparable properties. However, the appropriateness of when to use each is quite different. A “comp only sale” is one in which the listing broker has a signed, exclusive listing agreement with the seller, but the listing was not entered into MLS.

Generally, these are Non-MLS or “office exclusive” listings. Customers can enter these listings into MLS themselves, but must note in the Public Remarks that the listing is a “Non-MLS Listing –Entered for Comp Purposes Only.” “Broker assisted sales” are different in that the listing broker did NOT have a signed, exclusive listing agreement with the seller. Generally, these are FSBO or other non-listed homes where a sales licensee has obtained a buyer for the property. Often times, these are sold using the One Time Showing form. However, it is important to note that the One Time Showing form is not a signed, exclusive listing agreement. Therefore, these sold listings must be sent to MLS staff for entry into Matrix as a “Broker Assisted Sale.”

Questions? Please don’t hesitate to reach out to us at customerservice@rirealtors.org.