Listing statuses let you know what’s happening with a property on the market. Understanding the listing statuses, and when to update them, is crucial to maintaining accurate MLS data, something you and your fellow brokers rely on to run your business!
The easiest way to keep listing data correct in the MLS is to make status changes as soon as possible.
MLS Policy: Keep in mind that to stay compliant with MLS Policy, you must complete all status changes within three business days.
Let’s go over the listing statuses you’ll encounter within the REcolorado MLS system.
Incomplete
Think of this as the draft of your listing. Incomplete listings have not been made public in the MLS, and are only accessible to the listing agent, participant, managing broker, or office admins. Get a head start on your work by entering, editing, and updating an Incomplete listing until your seller is ready to go live on the market. After 60 days, if no edits or updates have been made, the listing will be automatically deleted.
Need more time? Simply update your listing or click “Submit” again to reset the clock on your Incomplete listing.
Coming Soon
Use Coming Soon status to spread the word about your listing before it’s officially on the market. You can enter a Coming Soon listing after the listing contract has been executed. The listing will automatically move to Active status after seven days, or you can schedule or manually move it to Active status before the Coming Soon period ends. Yard signs must have a Coming Soon rider and marketing can begin, but showings cannot be scheduled.
Active
Your listing is on the MLS, available for showings, and an offer has not been accepted. Days in MLS (DIM) reflects the time a listing has been in Active status in the MLS.
Pending
Move your listing to Pending status when an offer has been accepted. The listing is no longer on the market and Days in MLS (DIM) pauses.
This happens when you have a mutually executed contract, meaning both parties have signed, but earnest money does not need to be exchanged. If the seller is accepting back-up offers, showings can still be scheduled.
Closed/Leased
Congrats on a successful closing! The purchase or lease agreement has been fulfilled. Properties in this status are no longer available on the market.
Withdrawn
The listing has been pulled from the market, but the seller and listing agent still have a contract in place. The listing agreement is still valid and the homeowner still wants the listing agent to sell the home, but the property is temporarily not available.
You might use this status when the homeowner needs extra time before showings resume. Showings and open houses are not allowed, but marketing efforts such as social media, yard signs, and flyers may continue. While the listing is in Withdrawn status, Days in MLS (DIM) pauses.
Since the listing agent still has an agreement with the seller, it’s against the rules for another agent to contact the seller in an attempt to gain them as a client.
Expired/Cancelled
The listing contract has expired or has been terminated by mutual agreement between the seller and listing agent.
Once a broker has confirmed there is not another listing at this address in Coming Soon, Active, Pending, or Withdrawn status, brokers may reach out to the seller.
Additional Resources:
Download this handy table to quickly reference listing status marketing rules, visibility and more:
