When searching for a property, you will come across multiple states of activity. Below are numerous terms you will see in reference to the status of a property listing.
Active refers to when a listing is available for showing and the seller is accepting offers. A property could have an accepted offer with a “bump” clause. A “bump” clause occurs when a seller has accepted an offer and reserves the right to “bump” that offer in favor of another offer. Contingencies have not been completed when a listing is active with a bump clause.
A Delayed Listing is not a “Pocket Listing.” It is a listing that requires seller’s consent and desire not to show for a limited period due to preparing the property for future showings. Delayed status shall be for a period no greater than 21 days. A listing must be entered in as Delayed from the start. Once a listing is Active, it cannot be moved to Delayed. The listing cannot be shown when it is Delayed.
If a property is Active With Offer, it means that although there is an accepted offer, the seller is seeking backup offers if 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.
Pending indicates that the seller has an accepted offer. All the contingencies have been met, and the seller is no longer showing the property. The property is in escrow, as both parties are working towards closing the deal. It will remain pending until all the legal work has been processed. Days on Market do no accumulate when a listing is Pending. Secondary offers are not accepted.
When a listing is Withdrawn, it is not available to be shown for a temporary period. The listing agent has a viable listing contract with the seller. Sellers are not allowed to have showings while a listing is Withdrawn.
Every seller hopes to sell their listing. A property is Sold when the sale has been completed and the property is off the market. The listing information must be updated to reflect a Sold status within 10 days of the closing date.