As part of April Launch Day NNRMLS replaced its four Active-Pending and its one Pending status with two new statuses. These listing status updates are the result of the dedication and hard work of the NNRMLS Listing Status Workgroup, NNRMLS Board of Trustees, leadership and staff. The Listing Status Workgroup was composed of members from the NNRMLS Board of Trustees and select NNRMLS staff members. The group worked for several months in 2020 to determine the scope of changes.
What Statuses Were Replaced?
Pending No-Show, Active-Pending Call, Active-Pending Loan, Active-Pending House, Active-Pending Short Sale and Pending-No Show have been discontinued for future use and replaced with two new statuses. This change took place on April 6, 2021.
What Are The New Statuses?
The two new listing statuses are “Under Contract-Show” and “Under Contract-No Show”
What are the Characteristics of the New Statuses?
- Both are Active Statuses
- Presentation of offers is still required
- Both are On-Market Statuses
- Both statuses syndicate to public-facing real estate sites, also known as “portals”
- Both statuses syndicate to IDX
- Days on Market, or “DOM,” accumulate while listings are in these statuses
- Both require a Contract Date to be entered when saving the listing
- Both will expire when the expiration date is reached
- If the expiration date is extended on these listings they will remain in Under Contract status
- If an Under Contract listing expires the listing will be in the Expired status. To change a previously Under Contract listing that has expired back to Under Contract the listing agent would need to obtain appropriate authorization from the seller, then change the expiration date in Paragon, the listing will then be in the Extended status. The agent would then need to change the listing status back to Under Contract
- Both statuses generate accurate Days to Contract, accurate Days on Market and accurate Days to Close counts
Where Can I Find the Official NNRMLS definition for the New Statuses?
- Definitions for the new statuses can be found on NNRMLS’ official Listing Status Information Page
What Happens to Listings that are Currently in Active-Pending or Pending-No Show Status?
Update July 6, 2021: As of July 6, 2021 all Active-Pending and Pending-No Show statuses were auto-transitioned to the new Under Contract statuses. Active-Pending statuses were changed to Under Contract-Show and Pending-No Show statuses were changed to Under Contract-No Show. All brokers and agents with listings in these statuses were personally notified of this impending change before the update took place.
Resume original text:
On or after April 6, 2021, listings that are in any of the four Active-Pending or the Pending-No Show statuses will remain in that status until the listing agent decides to edit the listing, even if the edit is not a status change. When this happens the listing agent will be required to convert the status before they are able to save their edits. If the listing is under contract then the agent will want to pick one of the two new Under Contract statuses. However, if the listing is no longer under contract, for example, it has sold or is no longer in escrow, NNRMLS recommends the listing agent update the listing to the appropriate status.
What Happens to Saved Searches with Active-Pending or Pending-No Show?
Your saved searches will remain the same and Active-Pending and Pending-No Show listings will continue to be searchable, but as the number of those listings dwindle by attrition your search results will shrink accordingly.
NNRMLS recommends that agents with searches that include Active-Pending, especially client searches, consider including Under Contract-Show as an equitable replacement. Agents might also consider adding the Under Contract-No Show status since this is an Active Status and would still be allowed in Auto-Listing Notifications, (unlike Pending-No Show).
How will the statuses appear on the Internet?
NNRMLS has notified our IDX and listing syndication partners about the changes to our listing statuses, and we have provided instructions for the statuses’ proper display. Listings in the Under Contract status must display the status as it appears in our data feeds.
Where will Under Contract listings appear in Homesnap?
Homesnap will group listings using the Under Contract statuses in the “Contract” group.
Why Did NNRMLS Make These Changes?
Our prime directive at NNRMLS is to support our Members’ role as the trusted source of real estate expertise. The changes outlined above are just the latest in a series of efforts meant to bring meaningful changes that benefit you, our Member. For years our Members have encountered friction when they have been asked by a client why a listing that “the Internet says is Active” is actually “Active-Pending” and not available to show. The Under Contract statuses are intended to reduce that friction by clearly communicating two things: The listing is under contract and it is either available for showings or not. Our team believes these new statuses offer no ambiguity, which means less time spent clearing up confusion and a greater focus on actionable information.
In summary, these changes are being made to:
- Simplify and streamline our listing statuses
- Reduce consumer confusion
- Improve listing accuracy
Where Can I Find Training?
- NNRMLS will hold group classes to explain the new statuses. Click here to sign up for a class.
- NNRMLS will take appointments from Brokers to schedule Virtual Office Webinars to explain the new statuses. If you are a Broker or Broker admin click here to schedule.
- As an NNRMLS member, you are invited to click here to schedule one-on-one sessions as needed to clarify questions you might have about the new statuses or the 2021 form changes.
RELATED LAUNCH DAY MEDIA:
NNRMLS Launch Day Blogs
Homesnap Pro, NNRMLS Bring Year-Long Webinar Series to Members
Paragon Scheduled Release Blogs
Paragon Timeout Increased To Two Hours
Under-Contract Listing Statuses Replace Active-Pending and Pending
NNRMLS Forms Updates – Spring 2021
SFR replaces Abbreviation for Site Stick Built
TransactionDesk Templates: Are They Out of Date?