Dallas Real Estate MLS Property Status Explained

December 2, 2009 by · Leave a Comment 

Dallas Real Estate MLS
Dallas Real Estate MLS

Dallas Real Estate MLS Property Status

I’ve had many questions lately about the different stages a home goes through in the Dallas Real Estate MLS Database before ending in a sale and how you can identify if the property is still available.  There are thousands of websites in the Dallas Real Estate market that allow you to search properties.  The problem is many of the real estate search sites do not update their database on a regular basis, and as a result you are provided with outdated information on properties that might already be under contract or sold.  Below is a guide to help you understand and indentify the different stages and status symbols used to track properties in the North Texas Real Estate MLS Database (NTREIS).

Dallas Real Estate MLS (NTREIS) Property Status Definitions:

  1. Active – (ACT) – property is available for sale and listing agent is still accepting showings
  2. Active – Option (OPT) – property has an accepter offer and buyer is still withing their option period (Option period provides buyer a certain amount of time to terminate contract without losing earnest money.  An option fee of usually $10/day is offered by the buyer for the unrestricted right to terminate contract during the option period.  The Option period allows buyer time to have home inspections and determine if he/she is wanting to move forward with the purchase.  The property can still be shown during the Option period.
  3. Active – Contingent (CON) – property has an accepter offer from a home buyer, but there is a contingency (financing, inspection, sale of another home) built into contract.  Usually the seller will still accept showings with a contingent contract.
  4. Active – Kick Out (KO) – property has an offer contingent upon the sale of another property
  5. Pending (PND) – property has a solid contract with no contingencies or kick outs.  Pending usually indications buyer did not have option period or contact is beyond option period.  Pending is the final status before property is updated as sold.  If a home is listed as pending, more than likely the transaction is going to close within a couple of weeks unless an unforeseen issue arises such as problems with buyer financing.
  6. Expired (EXP) – listing period has expired and property is no longer available.  Seller may relist with same agent, transfer to another real estate brokerage, or list property for sale at a later date.  This also could indicate property is in the process of foreclosure.
  7. Withdrawn (WTH) – property is no longer available for showings or available to be relisted with another real estate brokerage.  This status sometimes indicates property is in transition to be relisted with another brokerage or in the process of foreclosure.  Withdrawn status arises when seller removes property from market before listing expiration date.
  8. Cancelled (CAN) – unconditional release – property is free to be re-listed in MLS.  Ex. Seller decides he/she is not satisfied with performance of current listing brokerage and decides to relist with another brokerage.  Property can also be cancelled prior to foreclosure process.
  9. Temorary Off Market (TOM) – Owner has a reason they would not like to show the property for a specific period of time, but they are still under a listing agreement to sell property.  (examples uses include remodeling, sick, traveling, holidays)
  10. Withdrawn Sub Listing (WS) – under the sub-divided listing, you can have a main listing with several sub listings.  Withdrawn sub listing would indicate the sub listing is no longer available
  11. Pending Release – indicates seller has accepted a purchase contract from a buyer, but contract still has a contingency (Ex. Seller has accepted offer from buyer that is contingent upon the sale of buyer’s current property).
  12. Pending Show – indicates seller has accepted a contract from buyer, but is still allowing property to be shown and back up offers to be submitted.
  13. Pending No Show – usually indicates buyer and seller have an executed contract and all contingencies have been satisfied.  Offers can still be submitted, but seller has informed listing agent to decline any requested showings.

If you have any questions about a particular property’s status, please contact one of our Dallas Real Estate agents.  To search properties in Dallas, please visit our Dallas Real Estate MLS Database.  DFW Urban Realty allows you to search thousands of properties in Dallas instantly.  Our Dallas MLS database is updated on a daily basis to ensure you are receiving the most accurate information possible.  We offer multiple options to search real estate in Dallas including our new Interactive Dallas MLS Map Search.

Be Sociable, Share!

Related posts:

  1. New Dallas Real Estate Interactive MLS Database Map Search
  2. Buying a Home in Dallas – The Right Home at the Right Price
  3. Dallas Fort Worth Real Estate Brokerage Expansion
  4. Dallas Home Buyer Tax Credit Extended to June 2010
  5. Guide to Selling Your Home in Dallas
About Kenneth

Comments are closed.

Twitter links powered by Tweet This v1.8.2, a WordPress plugin for Twitter.

Get Adobe Flash player