Can anything be more frustrating than finding the perfect home for your buyers only to find out that the seller is not accepting offers? It is due in part to the listing agent hoping to attract a perspective buyer through the continued marketing of the listing, but a portion of the trouble stems from a misunderstanding and lack of education of the Active Pending statuses. We are hoping to handle the education piece right now!
If there is an accepted offer on a listing it is no longer Active. If the seller wants the home to continue to be shown and will accept back-up offers, the status is Active Pending Call, Pending House, Pending Short Sale, Pending Loan. Once the seller will no longer accept back up offers, the listing should be changed to Pending No Show.
If the deal falls through, the listing agent would then change the status to Back on Market. New auto-email notifications are generated and sent to perspective buyers announcing that the property can now be shown and/or receive offers. 5 days later the status will automatically trigger back to Active.
But, what about sending the listing out in syndication to consumer websites? In most cases only Active listings are distributed through IDX and syndication. NNRMLS includes the full descriptor in the status field when we deliver the data. However, many websites only display the Active part of the status. So, if the true status is Active Pending Short Sale, the public often sees it as Active. This is fine if the seller is in fact accepting back-up offers, but if not, this is a huge source of frustration for the public and for our Members who are trying to serve their clients.
A large percentage of listings in our MLS move directly from Active Pending Call to Sold — completely bypassing the Pending No Show status. This is perfectly appropriate if the seller is accepting back-up offers and continuing to allow the property to be shown right up until closing. However, if back-up offers are not being accepted, failing to update the status to Pending No Show opens the listing agent up to citation, misses the advantages of marketing the listing Back on Market if the deal does fall through, and wastes the time and energies of both the consumer and fellow Members.
As always, if you have any questions regarding the correct status of your listing, please contact your staff at NNRMLS.
Remember, all status changes must be entered within 2 business days of seller’s signature or acceptance of offers. Failure to update listing with the correct status could result in a Level 2 Citation.
- New – Just listed
- Extended – Listing contract has been extended
- Price Reduced – Active with new price
- Price Raised – Active with new price
- Back on Market – Active, available for showing and taking offers
The above statuses will stay New, Extended, Price Reduced, Price Raised, or
Back On Market for 5 days before reverting to Active.
- Active – Available with no offers
- Active Pending Call – Offer has been accepted – property is still available for showing and back up offers are being accepted.
- Active Pending House – Offer has been accepted upon the sale of another home or additional properties – property is still available for showing and back up offers are being accepted.
- Active Pending Loan – Offer has been accepted but is contingent upon financing – property is still available for showing and back up offers are being accepted.
- Active Pending Short Sale – Offer has been accepted by seller and has been presented to financial institution but has not been accepted – property is still available for showing and back up offers are being accepted.
- Pending No Show – Offer has been accepted – no back up offers being accepted, property no longer available for showing. If offer has been accepted as a Lease/Option, select Pending-No show and enter in the remarks *Lease/Option*
- Temporarily Off Market – Listing has been taken temporarily off market – no longer available for showings – not taking any offers. Will stay as TOM until listing is brought back on market or expires.
- Withdrawn – Listing has been cancelled.
- Sold – Property has sold no longer available.
- Rented – Property has been rented no longer available.