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Tenant: a person who occupies land or property rented from a landlord/Landlady.

Landlord/ Landlady: a person, who rents land, a building, or an apartment to a tenant.

Service provider: a person who aides the society by providing goods or services that are needed.

Mortgage: legal agreement by which a creditor lends money at interest in exchange for taking title of the debtor’s property, with the condition that the conveyance becomes void upon debt payment.

Active Status: properties that are offered for sale and have no accepted contract on them.

Contingent W/Kickout Status: for properties that have an accepted contract that includes contingencies and includes a kickout clause. (A kickout clause usually involves a contract that has a house sale contingency.  The kickout is usually 48 hours and this allows the seller to go back to the buyer who is under contract and give them 48 hours to release the house sale contingency.  This usually happens if the seller is interested in accepting another contract from a buyer who does not have a house to sell.  This status is the one that generates the most questions.)

Active Under Contract: is an On-Market status and should be used when an Offer is accepted and either 1) Seller requests that the property remain in an On-Market status and is looking for back-up offers, or 2) the sale is subject to court or other third party approval. Note: If your listing is not going to close by the end of the Estimated Close of Escrow Date you entered, you can avoid having your listing being Auto Sold by extending your listing’s Estimated Close of Escrow Date.

Contingent No Kickout Status: for properties that have an accepted contract that includes contingencies but does not include a kickout clause.

Contingent Short Sale Status: for properties that have a contract accepted by the owner subject to lender approval.

Pending Status: for properties with an accepted contract. Properties will remain in this status until they close or until 9 months past the expiration date.

Option Status: for properties with an accepted contract and in the initial inspection period. Properties in this status will move to the Pending status when the inspection contingency expires.

Available/Active: an On-Market status and should be used when a valid listing contract exists and no offer (with or without contingencies) has been accepted.

Hold: an Off-Market status and should be used when a valid listing contract is in effect; however, because of various reasons such as repairs, illness, guests, etc., the Seller has requested that temporarily there be no showings. In Matrix, a listing may be placed on hold for up to 30 days at a time. This status is not for Short Sales or other transactions requiring third party approval, or confirmation, after an offer has been accepted by the property owner. A listing on Hold status will automatically be placed back Active on the Hold Activation Date.

Temporarily Off Market Status: for properties that have been temporarily removed from Active status and are still listed with intention of returning to Active status in a short period of time. You may NOT solicit these listings.

Withdrawn Status: for properties withdrawn from the system prior to expiration, but still subject to some listing broker rights. You may NOT solicit these listings without calling the original listing Broker to determine their rights. Listings will remain in this status until they expire and move to the Expired status.

Expired Status: for properties for which the listing period has expired.

Sold Status: for all properties entered in the MLS that have been sold and closed.
Cancelled: for properties that have been withdrawn from the MLS and the listing agreement has been
terminated. These listings will NOT expire.

Hot: a status that indicates a listing is too good to be available for too long. A deal too good that should be taken as fast as possible to beat the competition.

 

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