Any listing taken on a contract to be filed with the MLS is subject to the rules and regulations of the service. A seller wishing to have the benefit of their listing being dissemenated through the MLS may not authorize the listing broker to take action inconsistent with the MLS Rules. As an MLS Participant or Subscriber, you are obligated to abide by the MLS Rules, Policies and Code of Ethics. Educate your sellers about these requirements, including these newly adopted listing status defininitions.
MLS Rules, Section 1.2.4. Listing Status Definitions.
Active: A listing for which the Participant has a current listing agreement, the property is available for showings, and no offers have been accepted by the seller. An Active listing automatically will change to Expired at midnight on the date of expiration. A listing with contingencies* may remain in Active status only when the purchase and sale agreement is contingent upon the buyer having a first right of refusal should a seller receive and wish to entertain a subsequent offer. Once a first right of refusal has been removed, the listing no longer is eligible to remain in Active status.
Back On Market: This status is available only for listings agreements that have not expired or been cancelled by the listing broker.
Contingent: A listing for which the Participant has a current listing agreement and for which the Seller has accepted an offer with a contingency* and continues to seek back-up offers. Contingent listings are a sub-status of Pending; thus, Contingent listings do not appear when searching for Active listings but are included in syndication feeds.
Expired: A listing for which the property did not sell during the timeframe specified in the listing agreement.
Pending: A listing for which the Participant has a current listing agreement, the Seller has accepted an offer and no longer seeks additional offers, and any contingencies* have been met. A Pending Listing will not appear when searching for Active listings and will not be included in syndication feeds.
Cancelled: A listing for which the Participant and Seller mutually have agreed to terminate prior to the expiration of the listing agreement.
Withdrawn: A listing for which the Participant has a current listing agreement and the Seller has requested be withdrawn from the market prior to the expiration date of the listing agreement. With the Seller’s written permission, the Participant may change the listing to another status at any time prior to the expiration date. A Withdrawn listing automatically will change to Expired at midnight on the date of expiration.
*Contingencies shall be defined in the purchase and sale agreement between seller and buyer and include (a) appraisal value equaling or exceeding the agreed upon purchase price; (b) financial contingency; (c) sale or lease of another property; and/or (d) buyer specified contingencies in the special stipulations.