Listing Statuses Explained

Different Listing Statuses and What They Mean

Introduction: Understanding listing statuses is crucial for both sellers and buyers in the real estate market. These statuses indicate the current stage of a property listing and provide valuable information about its availability and status. Here's an overview of the different listing statuses and their meanings:

1. Active:

• Meaning: An active listing indicates that the property is currently available for sale. It may be newly listed or relisted after being off the market for a period. Buyers can view and make offers on active listings.

2. Pending:

• Meaning: A pending listing indicates that the seller has accepted an offer from a buyer, and the sale is in progress. However, the transaction has not yet closed. Pending listings are not available for new offers or showings.

3. Sold:

• Meaning: A sold listing indicates that the property has been successfully sold, and the sale has closed. The transaction is complete, and ownership of the property has transferred to the buyer. Sold listings are no longer available for purchase.

4. Cancelled:

• Meaning: A cancelled listing indicates that the seller has terminated the listing agreement with their agent before the listing expiration date. The property is no longer actively marketed, and the listing is no longer valid.

5. Submitted:

• Meaning: A submitted listing indicates that the property listing has been submitted to the real estate platform but has not yet been processed or approved. It is in the initial stage of being listed and may not be visible to the public until it is reviewed and approved by the platform administrator.

Conclusion: Different listing statuses provide valuable insights into the current state of a property listing in the real estate market. Whether a listing is active, pending, sold, cancelled, or submitted, each status carries specific implications for both sellers and buyers. Understanding these statuses helps parties involved in real estate transactions make informed decisions and navigate the market effectively. If you have any questions about a particular listing status or need assistance with a property transaction, don't hesitate to consult with a qualified real estate professional.