MLS Listing Status Definitions
If you’ve ever browsed the MLS, you’ve likely noticed multiple different listing statuses. You might have found them confusing – and rightly so! We wanted to bring you the MLS Listing Status Definitions. There is a range of different listing statuses that you may see when looking at Asheville real estate on the MLS, and it can be difficult to decipher their meanings without a bit of background knowledge. To help you make better sense of the MLS, here are the seven main statuses you’re likely to see:
- Coming Soon – This type of listing simply means that the listing agent and seller have signed a listing agreement, but the property isn’t ready to be marketed yet. A “Coming Soon” listing is designed to create interest and excitement, and is subject to a few restrictions – it can only be up for 21 days at most, a valid listing agreement must be in place, and a coordinated effort to get the property ready for the market must be underway.
- Active – An “Active” listing represents a property that is on the market, available to go under contract, and a desire to sell. These listings are open to offers and have not yet been placed under contract by another buyer.
- Under Contract – A listing that is under contract is one on which the seller and buyer have agreed to terms in writing. There are two sub-groups to this type of listing:
- Show – while the property is under contract, the listing agent and seller still want people to continue looking at the property. They may be trying to get a backup offer, or simply to keep interest in the property alive should the contract fall through.
- No Show – the listing agent and seller don’t want to continue showing the property, as they are confident that their current contract will close. If it does not, the property will likely go back into the active state.
- Closed – After a contract has gone from active to closed, its status will change to closed on the MLS. At this point, the seller sells and the buyer buys.
- Expired – An MLS listing becomes expired automatically if the property doesn’t sell within the predetermined time frame of the listing. At this point, the listing comes off of the MLS – it is still visible as having been listed but is no longer active.
- Temporarily Off Market – This listing states requires a written agreement between the listing agent and seller. It is still a valid listing agreement, but temporarily not listed for sale. This type of listing might appear for a variety of reasons, including work being done on the property to help it sell at a given price point, or a desire on the part of the current owners to avoid showings during the busy holiday season.
- Withdrawn – If a seller decides that they don’t want to sell or have their property listed anymore, the listing will be withdrawn. At this point, the listing is pulled from the MLS and is no longer active.
Want to learn more about MLS listing statuses and Asheville Real Estate? Give Asheville Cash Buyers a call today at 828-222-6443 or visit us at AshevilleCashBuyers.com!