Effective June 9, 2021, we updated the names of the Show and Deposit statuses to better reflect the true nature of a listing's lifecycle. The following changes went into effect:
- The SHOW status is now known as Under Contract- Continue to Show (UC-CTS). Use this status when there is an executed sales contract, but you still want the property to be shown and are accepting backup offers.
- The DEPOSIT status is now known as Under Contract (UC). Use this status when the property is no longer available for showings.
In some instances, rather than having a binding contract, you may have a meeting of the minds that has been documented by a memorandum of terms, offer to purchase or some other type of non-binding agreement. Listings in this phase will remain in the MLS as an Active listing status, and are required to be updated with the new Under Agreement Y/N flag. This allows others to know that the property is still for sale but is subject to a non-binding agreement.
Due to current market conditions, where it is not unusual to have dozens of offers to consider, we have created the Under Review Y/N flag. This flag is required during the time the seller is reviewing multiple offers and showings are not being allowed. These flags can manually be changed at any time. However, if the flag remains after 48 hours, it will automatically be removed by the system and the listing will just show as Active (without any flag).
The Hubbard Y/N flag will remain. If the purchase of a listed property is contingent on the sale of the Buyer's property, the listing remains in the Active listing status and should be marked with a Y in the Hubbard Y/N field.