Demystifying MLS Status: Active, Pending, Backup, and Contingent Listings with Realtor, David Locke

The real estate market can be a whirlwind of activity, especially for those navigating the listings on the Multiple Listing Service (MLS). Whether you're a homebuyer, seller, or real estate enthusiast, understanding the various status labels assigned to properties is crucial for making informed decisions. In this blog, we'll demystify the status of homes on the MLS, shedding light on what it means when a property is listed as Active, Pending, Backup, or Contingent. Find out more in the video with Anderson, SC Realtor, David Locke of Locke and Key Associates.

### Active Listings

Active listings are properties that are currently available for sale on the market. These listings represent homes that are actively seeking buyers. As a prospective buyer, you can explore active listings to identify properties that match your criteria and schedule viewings with your real estate agent. Active listings signify opportunities for buyers to make offers and potentially purchase the property.

### Pending Listings

Pending listings indicate that an offer has been accepted by the seller, and the transaction is in progress. At this stage, the seller has agreed to the terms of an offer, but the sale has not yet been finalized. Pending listings often involve pending inspections, appraisals, financing, or other contingencies that must be met before the sale can proceed to closing. While pending listings are not technically available for new offers, they may still be visible on the MLS until the sale is completed or falls through.

### Backup Listings

Backup listings come into play when a property under contract (pending) encounters issues or contingencies that jeopardize the sale. In such cases, sellers may accept backup offers from interested buyers as a precautionary measure. Backup listings allow potential buyers to submit offers on a property that is already under contract, providing a fallback option in case the initial sale falls through. Backup listings give buyers an opportunity to position themselves as potential successors if the primary offer fails to materialize.

### Contingent Listings

Contingent listings denote properties that have accepted an offer from a buyer, but certain contingencies must be met before the sale can proceed. Common contingencies include home inspections, appraisals, financing, or the sale of the buyer's current home. Contingent listings indicate that the sale of the property is dependent on the successful resolution of specific conditions outlined in the purchase agreement. Once all contingencies are satisfied, contingent listings typically transition to pending status, signaling that the sale is moving forward.

In summary, understanding the status of homes on the MLS is essential for navigating the real estate market effectively. Whether you're actively searching for a new home or monitoring the status of your property, knowing the distinctions between active, pending, backup, and contingent listings provides valuable insight into the dynamics of the market. By staying informed about MLS status labels, buyers and sellers can make informed decisions and navigate the complexities of real estate transactions with confidence.

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