Over the past few weeks our compliance department has been hard at work creating new, easier to follow definitions of all the listing entry fields that are found in the MLS. Some of these were to redefine items that may have changed in our Rules & Regulations, but most were to make clearer the definition of each field.
One of those fields that has been updated is the Hubbard Y/N field. We get a lot of questions about this particular field and how to properly use it. The new definition is below. If, for some reason, you forget the definition that is listed below, you can simply click on the question mark icon next to the field in either MLXchange or FusionMLS and the definition will be displayed for you.
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The definition for the Hubbard Y/N field is as follows:
Hubbard Y/N A Hubbard is a contingency for the sale of some other property of the buyer. NOTE: This question/field DOES NOT mean that seller will entertain a Hubbard.
The Hubbard Y/N field is not a required field UNTIL the listing changes from NEW to ACT. Once the listing becomes ACT (active), then the Hubbard field becomes a required field. Upon any changes to the listing, this required field should be answered N (no) UNLESS an offer with a Hubbard clause is accepted. If this happens you would then change Hubbard to Y (yes), leaving the status at ACT. The status on the report will be displayed as ACT HB.
Do you have questions on how to use the Hubbard field? Leave them in the comments below and we’ll answer them for you.