A list agent can extend a listing prior to it reaching its expiration date by obtaining signatures from the seller(s). “EXT” properties are flagged for Hot Sheet reports and revert back to “ACT” in three days.
What is the MLS?
What Is the MLS? The Multiple Listing Service, Explained What is the MLS? Whether you’re looking to sell or buy a home , you will no doubt encounter the multiple listing service, or MLS. This is, in many ways, the very lifeblood of the real estate business. But just what is the MLS?
What does the L status code mean in MLS?
MLS L STATUS DEFINITIONS 12/15/2014 MLS LISTING STATUS DEFINITIONS Status Code Description Explanation A Active Used for all currently active listings. Agents must have a valid listing agreement signed by the seller before entering a listing as Active.
What do all those real estate listing terms really mean?
What Do All Those Real Estate Listing Terms Really Mean? 1 Active. This means that a property is currently on the market and available for sale. It may have received offers, but none have yet been accepted, ... 2 Closed (CL) 3 Active with contract (AWC) 4 Under contract (UC) 5 Contingent. More items
What does it mean when a property listing is expired?
The property listing with the agent has expired and is no longer active, usually because it didn’t sell, says Matthews. That could mean the seller is still open to accepting an offer, so it’s worth touching base if your curiosity is piqued.
Does no longer on the market mean sold?
Just because a property is no longer on the market, that doesn't mean it's been sold. Let's cover in detail all the other reasons why a property may be removed from the market listing, other than being sold.
What does hold status on MLS mean?
HOLD (H) A valid listing contract exists, and no offer has been accepted. The Listing Broker is in possession of a seller written instruction to submit the listing as “Hold.” This instruction may be due to various reasons such as multiple quality offers already received, repairs, illness, guests, etc.
What does Released mean on MLS?
If a Listing Participant and a Seller, by mutual written agreement, release an Exclusive Right to Sell or Exclusive Agency Listing prior to the expiration of the agreement, the Listing Participant must change the status of the Listing to “released” in the CVR MLS system within five (5) days of the release ratification.
What does RAC mean on MLS?
Properties marked BOM have come back on the market after the active marketing has been suspended by being UAG, WDN, CAN, or EXP. Sometimes, I see this marked as RAC, which means reactivated.
What is property Status H?
Hold (H): Hold is for properties that have been temporarily removed from the active status and are still listed with intention of returning to active status in a short period of time.
What does active under contract status mean?
“Active Under Contract” is a real estate term that indicates the status of real property (single family home, condo, townhome, etc.) that has been put up for sale wherein a seller has accepted an offer from a buyer, but the deal has not yet closed. This term is primarily used in the State of California.
What does it mean when a listing is released?
The concept of a release can define various meanings in the financial and real estate business. Typically, it establishes a discharge or literal escape from a loan borrower's economic confinement once they settle a debt.
What does a release mean on a house sale?
A Deed of Release is a legal document which removes a previous claim on an asset. You typically come across one in the conveyancing area when your mortgage lender transfers the title of your property to you once you've fully redeemed your mortgage.
What does a released house mean?
When your lender releases a mortgage, you have paid off the loan balance. A release of a mortgage is the removal of the lender's lien on your home. Local recorders of deeds maintain the real estate records and are the appropriate agencies to file mortgage releases with.
What does CTG mean on MLS?
ContingentCTG - Contingent. There is a signed, accepted offer. That is, there is a legally binding agreement between Buyer and Seller. Yes, that's right, UAG and CTG status in MLS mean essentially the same thing - namely, that there is a signed, accepted offer between Buyer and Seller.
What does GTG mean on MLS?
GTG means "Got To Go" and "Good To Go."
What is Br and Ba in real estate?
Ba - bathroom. Br - bedroom. CAC - central air conditioning.