To help you understand the rules governing the Pending Listing Status, we assembled a list of Frequently Asked Questions and their answers.
When should a listing be changed to Pending status?
A listing should be changed to Pending status within three business days of a mutually executed contract (MEC) on the property. Days in MLS (DIM) pauses while a listing is in Pending status. Showings may continue if the seller is accepting back-up offers. Make sure to indicate this in your REcolorado Matrix listing information.
Do I need to have earnest money submitted to move my listing’s status to Pending?
No, a listing should be changed to Pending within three business days of a mutually executed contract (MEC), meaning both parties have signed. Earnest money has no bearing on when a listing should be moved to Pending status. If there is a mutually executed contract, the status must be changed within three business days regardless of whether or not earnest money has been received.
Is there a way to move my Residential Lease to the Pending status?
No, there is no Pending status option for Residential Leases, but you can pull your marketing once an application and/or deposit has been submitted. After you have a contract signed for your Residential Lease, you can move it to Closed/Leased in REcolorado Matrix.
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.