The accurate status of a property is an important piece of information, as it communicates where in the listing cycle it is. Please be aware that there are some new status choices coming to add/edit on September 7, 2016 that will replace Active with a Contingency and Pending. While what they are called might be new, the function is not.
Under Contract – Showing (formerly Active with a Contingency) simply means the listing has an accepted offer to purchase pending clearance of a contingency, such as the sale of a home or financing. It’s important to note that the home will still be shown to prospective buyers for back up offers. During this time, Days on Market still accumulates.
Under Contract -Not Showing (formerly Pending) listings have a binding sales contract that has been accepted by both parties, and Days on Market no longer accumulates. Three things are needed when moving to Under Contract- Not Showing:
- The Under Contract date
- Off-Market Date
- Sales Agent Name
- Co-Sales Agent name (if applicable)
The new status change form will be placed in the RealTracs Online Information Library when the changes are effective.
The image below will help give you a visual of the listing cycle as your property moves through the statues in RealTracs.
There is online help available to assist you in understanding the new status changes. A full description of each can be found here, as well as a step-by-step video tutorial and walk-through of how to change the status of your listings.
Also, as always, if you have any questions regarding the new statues, or anything else, do not hesitate to contact the RealTracs Help Desk at 615-385-0777 or via email at firstname.lastname@example.org. They are available Monday – Friday from 8:00 am until 5:00 pm.