Multiple Listing Service or (MLS)
Status & What It Means
To Buyers & Sellers
This is the online community where all members of our San Diego Board of Realtors & Sales Agents advertise online there properties for sale. If you are a member of the board with MLS access, you are required to advertise here, therefore other than some For Sale By Owners (FSBO's) and most Auction properties, in theory all properties for sale in San Diego County can be found here.
...and yes you may find pre-foreclosures (short sales) and bank owned properties here. Foreclosures go to auction, if they do not sell they come back as REO (Real Estate Owned) or "Bank Owned Properties.
What the status means when you view properties...
ACTIVE =
Seller: “what a seller hopes to get for a sales price”
Buyers: available property, possibly no offers yet (but we always call & verify because agents do not always update the MLS as fast as things happen).
CONTINGENT =
Sellers: “what a lien holder is considering as a loss”
Buyers: 50/50 chance available property, there are offers in on it, but the seller may accept a backup offer from us.
PENDING =
Seller: “what properties are actually selling for”
Buyers: property is in escrow, too late for more offers now.
(But keep an eye on it if it's a favorite, properties do fall out of escrow).
SOLD =
Seller: “what homes were historically selling for”
Buyers: Already SOLD, GONE!
CANCELED =
Seller: “seller changed their mind about selling”
Buyers: NO LONGER FOR SALE.
WITHDRAWN =
Seller: “seller needs a break from the process”
Buyers: temporarily off the market, but will most likely come back. (We see this a lot during the Holidays).
EXPIRED =
Seller: “failed to sell @ the current price with the current agent”
Buyers: no agent assigned to sell this property at the moment, worth a call though to see if still for sale.
