Time limit to list property as pending

[Jerry R.]

Anyone aware if there is a time limit that REO listing agents have to list a property as pending? Do they even have to list it as pending at all?

[J Scott]

It's going to depend on the rules set forth by the MLS and the agent's brokerage.

In my area, *technically* the listing is supposed to go pending as soon as the property is under binding contract. But, it's very rare that it ever does unless the broker enforces it.

For REOs, it's generally all over the board. Some agents will move to pending as soon as it's under contract, others will wait for the due diligence period to end, and others won't change it until the property is closed.