MLS "Pending" Regualtion - OK or Not?

Question

I have done many many many transactions as both seller and buyer.

As a SELLER I have to say I hate that there is such MLS regulation that specifies, at least w/ every MLS I worked with (many), that once a property goes under contract MLS statues needs to be changed to "Pending" or "Contingent"

Am I the only crazy one here who is annoyed by it?

We all know that buyers don't shop pending homes. And if 20%-25% of deals fall through sooner or later I would like to keep showing my for sale house and build a backup list of buyers.  This will empower me when buyers are playing "tricks" of delaying and asking for more things or dragging their feet.

This MLS regulation really both weakens my position and causes me to lose time and $$$ in case a closing doesn't take place.

Does anyone feel the same?

Have you seen something different?

Is there a way around it?

Aaron K. · Answer

I disagree, especially in today's hot market there are likely far more pending homes than there are active homes, it would be incredibly frustrating as a buyer to continually fall in love with the best homes only to learn that they are already under contract.  Your best solution might be to keep something active for 5 days or a week and collect offers and try to keep some as a backup that you can reach back out to later, also 20-25% fall-through seems a bit high, maybe improve systems to lower that fall-through rate for yourself.