What’s New with the Multiple Listing System? (MLS)

Our real estate board has introduced new statuses for MLS® listings. The introduction of the new statuses was created to clarify the true status of a listing for members and the public- buyers and sellers. The 3 new statuses are:
1)Active Under Contract: This status indicates the listing is still being actively marketed, but there is a conditional deal on the property, it has an accepted offer with subjects. This is an optional status, to be decided with your seller and brokerages may choose not to update their listings also. Because of this, if a home does not have the ‘Under Contract’ banner, it may still be under contract. 
2) Pending: Now used instead of the “sold” status, the new “pending” status is applied to listings that are unconditionally sold.
3) Closed: Listings will automatically move from “Pending” to “Closed” on the completion date and the sold price becomes public knowledge. 
Sound confusing? Have questions how this can impact you as a seller or buyer? It may be easier to simply Ask HELM- give us a call, I am always just a phone call away to share more information and guide you. I’d love to hear from you. 

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