MY LISTINGS: Choosing the Correct Listing Status

CHOOSE THE CORRECT LISTING STATUS

Choosing the correct listing status is important as it communicates where within the listing cycle the listing is.  Representing the status accurately is imperative.  Below are the statuses that can be assigned to your listing.

Incomplete   

• A listing is designated as Incomplete when there is a signed listing agreement and effective date. Once you have a signed exclusive listing agreement, it must be entered into Realtracs within forty-eight (48) hours with, at a minimum, an Incomplete status. 

Coming Soon / Hold 

• A listing is designated as Coming Soon/hold when there is a signed exclusive listing agreement and in the event the property is not ready to be shown (for whatever reason). The seller instructs the listing broker, in writing, that the listing cannot be shown for a specific period of time, the listing status must have an “available for showing” date. 

• When a property is listed as Coming Soon/hold all showings are prohibited, including showings by ANY AGENT (listing or buyers agent), this includes virtual showings as well.  A listing entered into the MLS Coming Soon/hold may NOT be changed to Active or Under Contract-Showing status and then changed back to Coming Soon/hold within a five day period.  

• Public Marketing (except for showings) is permitted.  This includes yard signs, social media posts, email, etc.  This is an ON MARKET status, which means you must choose YES or NO in the Marketing section of your listing to syndicate externally to other websites, send through auto-notifications, and appear on the Hot Sheets or NOT.  

• When a property is listed as Coming Soon/hold, (DOM) days on market DO NOT accumulate. The listing can stay in this status up to 30 days at a time (this can be extended if needed), the property must have an Available for Showing date.  On the Available for Showing date, the property will automatically switch to Active Status.

       Active

• A listing is designated as Active when there is a signed exclusive listing agreement, the listing is on the market, available to be advertised and shown, and that offers are currently being accepted. If the seller wishes to stop showing the property temporarily during the listing period, the status can be changed to coming soon/Hold.

        Coming Soon / Hold

• A listing is changed from Active to coming soon/Hold when there is a signed exclusive listing agreement, the listing was on the market, available to be advertised and shown and the seller then instructs the listing broker, in writing, that the listing should be temporarily removed from IDX feeds and Syndication for public marketing (for whatever reason), and cannot be shown for a specific period of time, the listing status must have an “available for showing” (back to active) date. 

• When the status of the property is changed from Active to coming soon/Hold, (DOM) days on market stop, and DO NOT continue to accumulate.  Public Marketing (except for showings) is still permitted.  This includes yard signs, social media posts, email, etc.  

• The listing can stay in this status up to 30 days at a time (this can be extended if needed) and the property must have an Available for Showing (back to active) date. On the Available for Showing date, the property will automatically switch Back to Active Status and IDX feeds and Syndication for public marketing will resume.  The (DOM) days on market will start back up again as well. 

        Under Contract-Showing

• A listing is changed from Active to Under Contract-Showing (UCS) w/in 48 hours of an accepted offer to purchase, and a Binding Sales Contract has been accepted by both parties pending clearance of a contingency (Sale of a Home, Financing, Inspection, etc.), but will still be shown to prospective buyers for back up offers. When changing the listing to UCS, be sure to have an accurate Under Contract Date, this is the date the offer was accepted.

        Under Contract-Not Showing 

• A listing is changed from Active to Under Contract-Not Showing (UCNS) w/in 48 hours of an accepted offer to purchase and a Binding Sales Contract has been accepted by both parties, the property is not longer actively being shown regardless of any Contingencies. Days Listed will no longer accumulate. There are a few pieces of information needed when moving a listing to UCNS: 

1.  Under Contract Date: The date the contract/offer was accepted both parties 

2.  Off-Market Date: The date the property was no longer being shown 

3.  Sales Agent Name: Name of the selling/buyer’s agent

4.  Co-Sales Agent Name: (If Applicable)

       Closed:

• A listing must first change from Active to Under Contract-Not showing to then be changed to Closed.  Listings identified as Closed are Off-Market and have been sold. Taking a listing from Active to Closed requires three things:

1.  Closing Date

2.  Sales Price

3.  Financing Type – (Cash, Conventional, FHA, etc.)

        Expired:

• A listing expires and is no longer active when the Expiration Date Field of the listing passes. This date must match the expiration date found on the listing agreement. An Expiration Date can be extended but cannot be changed to a date prior to the original Expiration Date.

       Cancelled:

• A listing can be Canceled for a number of reasons, and when identified as such is Off-Market. Only Brokers or Office Managers (who have broker permissions) have the ability to Cancel a property.