Once your seller accepts an offer, you need to change the status to Active with Offer or Pending in Flexmls. These two statuses are similar, but they differ in what the seller and potential buyers can do once an offer is accepted.
If you are unsure which listing status is the best option for your client, take a look at a breakdown of the two listing statuses below.
Remember, a property with an accepted off that contains a home sale contingency with a bump clause can remain as Active. It is the only time an offer doesn’t need to be disclosed.
Active with Offer
Active with Offer is when there is an accepted offer, but the seller is seeking backup offers in case the buyer falls through. The seller is still showing the property and taking secondary offers. Offers must be updated within 48 hours of acceptance. Days on Market will continue to accumulate when a listing is Active with Offer. These listings will remain in active searches.
Pending
Pending indicates that the seller has an accepted offer and showings are no longer occurring. The property is in escrow, as both parties are working towards closing the deal. Days on Market do not accumulate when a listing is Pending. Secondary offers are not accepted. The pending date should reflect the Accepted Offer date.
We encourage you to view our Buyer and Seller Toolkit HERE. You will find detailed information on the transaction process, listing terms and the clear cooperation policy that you can provide your clients.