This time of year can be hectic, especially when you’re working with clients who are trying to sell a home! If your clients are considering pausing showings until after the holidays, you have a couple options for how you can manage your listings to best serve your sellers (and yourself).
No Showings Until the New Year
Living in a home on the market during the holidays can be a pain. Your clients might prefer to temporarily stop showings during this busy time of year. If you plan to pause showings until after the new year, but want to keep your listing in Active status, take advantage of the No Showings Until field in REcolorado Matrix. It’s important to keep in mind that when you use this field, you signal to buyer’s agents that the home is still on the market, but you won’t schedule showings until a set date. The listing remains in Active status, meaning Days in MLS (DIM) will continue to accumulate, but buyers won’t be able to contact you to learn more about the property – or to submit an offer!
Withdrawn Status
If your client wants to take their listing off the market for a specific amount of time—to take new photos or make improvements like changing the paint color or replacing the carpet—the Withdrawn status is a good option. When a listing is moved to Withdrawn status, there is still a valid listing agreement in place, which means brokers cannot solicit the seller. In Withdrawn status, a For Sale sign can be in the yard and all marketing can continue (flyers, social media, etc.). Days in MLS (DIM) also pauses when a listing is moved to Withdrawn Status. When the listing is moved from Withdrawn to Active status, it will display with a “Back on Market” banner.
Pro Tip: To learn more about the rules governing the Withdrawn Listing Status, read Frequently Asked Questions: Withdrawn Status.
Can I Expire and Relist?
No, this is NOT an option–DO NOT expire and relist the same property. The listing status must reflect the state of the contract. If your listing contract has expired or has been terminated by mutual agreement between you and the seller, you must change your listing to Expired status in REcolorado Matrix. However, if you still have a valid listing agreement with your client, you cannot expire the listing if you plan to relist later.
When you change a listing status to Expired, it signals to other brokers that the listing did not sell and is no longer under a listing agreement. This opens your clients up to calls and solicitations from other brokers who want to try to list the property, which is not good for you or your client if you still have a valid listing agreement.
Expiring and re-entering listings is a manipulation of REcolorado Matrix data and a violation of MLS Rules and Regulations. One of the reasons MLS organizations, including REcolorado, have rules is to make sure we all have access to accurate data, which is key to serving your clients.
Pro Tip: To get more information about the ins and outs of listing status changes in REcolorado Matrix, view our recorded webinar, REcolorado Listing Statuses: Define, Accurately Manage, & Remain Compliant, visit the REcolorado Listing Input & Edit Learning Path, and take a look at the ABCs of Matrix Statuses guide.
Have a question that wasn’t answered here? We’re here for you! Please contact the Customer Success Team at 303.850.9576, option 1, or support@REcolorado.com if you need more information.
