What does the listing status mean?
What does the listing status mean?
In real estate, listing status (or property status) refers to the situation of a property that was for sale, or is currently for sale.
What is CTG in real estate?
Contingent (or CTG): Effectively the same as UAG or Under Agreement, Contingent means that there is an accepted, signed offer. It is a legally binding agreement, but sometimes the sellers will take “backup offers” just in case something happens and the property goes back on the active market.
What does it mean when a listing is expired?
An expired listing is a property that has not sold by the end of the period stipulated in the listing contract between the seller and the listing agent. Whether you stick with your current agent or hire someone new, the property will have to be relisted again, creating a new listing on the MLS.
Do listings expire?
Many listings expire for many different reasons, but the most common reason a listing expires is because its asking price was too high and it didn’t sell as a result. To find out more on why homes don’t sell, read The 5 Biggest Mistakes Home Sellers Make.
What does expired pending mean?
Expired (X): The expired status is for properties for which the listing period has expired. Pending (P): The pending status is for properties that have an accepted contract and the seller has instructed their agent to cease marketing and/or showing the property.
What does Listed mean in real estate?
An agreement that represents the right of a real estate agent or Broker to handle the sale of real property and to receive a fee or commission for services. A general or open listing is a right to sell that may be given to more than one agent or broker simultaneously. …
What does UC mean in real estate?
Under contract
This type of listing has an accepted offer, but the seller is seeking backup offers in case the primary offer falls apart. Under contract (UC) Listings that are under contract have an agreed-upon contract with a potential buyer, but the transaction has not been finalized (closed). Contingent.
What does it mean for a property to be under agreement?
What Does Under Contract Mean? Under contract means that a seller has accepted an offer on the property, but the sale is not final until all contingencies are met. It typically takes 4 – 8 weeks from the date the offer is accepted until the sale is complete.
How do expired listings work?
Expired listings are properties that were on the market but failed to sell before the listing’s expiration date. Agents can get expired listing leads by identifying or purchasing them and then contacting them directly or through email, text, and direct mail lead nurturing campaigns and advertising.
What causes a listing to expire?
On of the daily rituals of most Realtors is to check the daily log of homes that have come up “expired.” What an expired listing means is the contract between the Realtor and the seller is over. The number one reason why any home expires, of course, is that is priced improperly.
How do you tell how long a listing has been on the market?
One quick method you can use to determine how long a house has been available on the market is to use internet searches. Online platforms such as Zillow and Trulia can provide information which lets buyers know how long a house has been listed on the advertising service.
Why do real estate listings expire?
What Are Expired Real Estate Listings? Expired MLS listings have been on the market without any activity. This period of inactivity stretched beyond the contract period that the realtor and seller agreed upon, causing the listing to expire.
What is an extended cost?
An extended cost is a type of accounting process that involves multiplying the unit cost for an item by the total number of units purchased with a single order. Most calculations of this type also include any ancillary charges that are associated with the order, arriving at an average cost per unit.
What is the meaning of the word extended?
1 : drawn out in length especially of time an extended visit. 2a : fully stretched out an extended battle line. b of a horse’s gait : performed with a greatly lengthened stride but without a break — compare collected. c : intensive extended efforts. 3 : having spatial magnitude : being larger than a point an extended source of light.
What happens when a listing is expired?
Once expired, they have 10 days to reactive the listing or it will remain expired. These listings are generally still available. Although it’s considered an on market status, most times listing agents are no longer showing CONTINGENT properties, and if they are they are showing for backup only.
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.
