When to Use One Status Over the Other
What does “active status” mean?
MLS rules require that for a property to be in “active status” it must meet certain critera:
Must be available to be purchased
Must have no accepted offers on the property
Must be available to show and inspect
MLSListings has received many complaints about listings in “active status” with remarks that indicate no showings or no more offers.
Why would a seller not accept offers?
Sometimes rather than accept an offer right away a seller will prefer to negotiate. During the negotiations the seller may ask the agent to leave the listing active and publish language stating that no other offers will be accepted at this time. We most often see these situations with REO properties.
In addition, there also are instances where the seller is overwhelmed by the volume of offers received. They may instruct their agent not to solicit any more offers, but to leave the listing active.
In these situations, leaving the property in an “active status” while not accepting additional offers or providing showings or inspections is misleading. Active listings are distributed to the public via the Internet and by agents via auto-email alerts, and more. The expectation is that the seller will be accepting offers and scheduling showings for these properties.
Which status is acceptable
If the seller and agent will not show or accept offers on a property for a period of time the status of the listing should be changed to “temporarily withdrawn” (status 8). This will indicate to the cooperating brokers and their client(s) that the seller is not actively soliciting offers and showings for the property. A note about the reason may be entered in the private remarks for clarity.
If the MLSListings Compliance Department receives a complaint regarding the refusal of offers or showings on an active listing, they require that the agent do one of the following:
Remove the language (and make the listing available to show and accept offers)
Temporarily withdraw the listing during the period when the seller does not want to show the property or accept offers
Is a pending status adequate?
Listings with the status “pending release” (status 2) or “pending continue to show” (status 3) that state “no more offers” or “no more showings” are incorrectly classified. If the property is not available to show or not accepting offers, the status should be “pending no show” (status 4).
A list of the different statuses and their uses can be found on the MLSListings Portal and below.
Active – Valid listing contract exists and no offer has been accepted.
Pending with release, continue to show (PR) or (Pend w/Rls) – Accepted offer on the property, and a release, “escape” or “kick-out” clause exists in a purchase contract that allows one party to withdraw under certain circumstances. This status may also be used to indicate the property is a short sale with an accepted offer.
Pending w/o release, continue to show (PS) or (Pend w/S) – Accepted offer on the property, still showing to prospective buyers for offers in back-up position to the first accepted offer.
Pending, do not show (PN) or (Pend w/DNS) – Accepted offer on the property. No additional showings to solicit buyers.
Sold – Final sale has occurred.
Expired – Listing contract has expired.
- Canceled – Listing contract canceled, or listing not qualified for inclusion in the MLS.
- Withdrawn (W) – No longer on the MLS, but a valid contract exists with the listing broker. Temporarily off the market.
If you have any questions regarding this or any other Compliance rule or policy, contact us at 408-874-0200 option 5 or write to email@example.com.