Tag: On the Market

What Does That Status Letter Mean? “A”,”B”,”PS”,CS”

A = Actively Available
B = Back Up Offers Only
PS = Pending Sale
CS =  Closed Sale
X = Expired from the Active Market
T = Temporarily Off the Market
A = Actively Available – Should be available for you to buy or bid on. Cases where this might not work out. Foreclosure agents rarely change the status of the listing until they have gone most of the way through the sales process (almost to the closing). This of course will leave you frustrated. Typically they are following the banks orders.
B = Back Up Offers Only – A long shot Maybe Chance for You to submit an offer if the first one fails. Failure was common in the heavy days of Short Sales because Buyers got tired of waiting for the banks approval. They would move on and the Back Up offer would take over.  Most of the aggregate sites, such as Trulia, Zillow and Realtor.com will leave a property as an, “A”, even if it is under contract. For many reasons. First being that it generates interest. When interest is generated, you will make an inquiry and they can sell your inquiry to an agent that is signed up for their programs.
PS = Pending Sale, just awaiting a close – When the agent puts the property in this status, usually they are fairly certain it will close as contracted. The property should no longer show up in the aggregate sites.
CS = Closed Sale –  Other than through the information on the tax rolls, these properties SHOULD NOT show up on any aggregate site such as Trulia, Zillow and Realtor.com. If they do it is because the agent did not close out the listing upon the closing.
X = Expired from the Active Market  No One wanted the property at the price offered or the location for the price or the condition for the price, so it was rejected by the marketplace (That would be people like yourself)
Likely it will return to the market and hopefully whatever stopped it from selling will be corrected. Again these listings should not be on aggregate sites.
T = Temporarily Off the Market – Possibly the Seller is not ready but the agent wanted to be prepared to add photos and prepare marketing before it is ready. Unlikely you will see these on any aggregate site.
The most frustrating of all of these is the property that has an offer, but you see it as available. It frustrates us as well when the status is not updated accordingly.  Aggregate sites are noted for not purging their data or listings that are no longer available, because they need the listings to generate traffic in order to sell leads to their databases.  We are not saying the companies listed here do any of this. We are calling them aggregate sites that pull the listing data from the MLS where we as agents give them the data.
You can count on the GreatFloridaHomes Team members to always give you accurate information to make your home buying process as comfortable as possible.  Please call us today to let us show you what we can do for you!
954-695-7653 Team@GreatFloridaHomes.com

MLS - Multiple Listing System
MLS – Multiple Listing System