Active with Contract status removal

After much review and consideration, the MFRMLS Board of Directors has approved the elimination of the Active with Contract (AWC) status. Below are key items to know regarding this change.

• On November 1, 2016 the option to select Active with Contract (AWC) as astatus in Matrix will be disabled.

• All listings currently in the AWC status as of November 1, 2016 will stay in that status unless changed. If you change your AWC listing to another status after November 1 the option to revert back to AWC will not be available.

• December 19, 2016 – any listing still in the AWC status will automatically move to the Pending (PNC) status.

• Saved Searches – if you have saved searches using the AWC criteria only, after December 19 those searches will not return with any results.

Frequently Asked Questions

1. Why the change?

The original purpose of the Active with Contract (AWC) status was to help accommodate the large influx of short sales that hit the market during the last recession. With the rebounding economy, less than 4% of the active residential inventory in our MLS is a short sale which in turn diminishes the need for the AWC status.

2. How do I handle backup offers on my Pending sales?

• If the owners want to accept back up offers, the “Backups requested Y/N” fieldis available on the ‘Change to Pending’ status page and is searchable.

• Remember also that pending listings are now allowed on public facing websites such as IDX sites, Realtor.com, MyFloridaHomesMLS.com, etc.; be sure to amend your remarks to include “taking backup offers” for additional exposure on the Internet.

3. Can I search “Back-up Requested Y/N” in Matrix?

• Yes, Back-ups Requested Y/N is an additional search control option, simply add the field using the “add/remove fields” on the search form.

4. The offer is signed between the seller and buyer but the bank has not approved the offer yet. How can I remain compliant with MFR and market my listing?

• Since there is an accepted offer between the buyer and the seller, use the Pending status.

• Also use the “Back-ups Requested Y/N” field to indicate you are acceptingBack-up offers and your listing will be searchable by other agents searching for Pending listings that are accepting back-up’s.

5. What about my saved searches?

• If the Pending status is already included in the saved search criteria, in additionto the AWC status, no adjustments are necessary.

• Searches and auto-emails with AWC as the only criteria –will return no results as of 12/19/2016.

• Searches and auto-emails with additional statuses selected (Active) will continue to have results based on the remaining criteria.

6. Are there any exceptions to the requirement to report the property as Pending oncethe offer is approved?

• The MFRMLS Board of Directors has decided against any exceptions forcontinuing to keep a listing in Active status when a contract has been accepted.

7. When my listing moves from AWC to Pending, what is the impact on the Days on Market (DOM) count?

• When a listing moves to pending status, Days on Market is calculated from the Listing date to the Contract date and no further days are accrued. When moving from AWC to Pending, the calculation will change to be equal to the days between list date and the contract date you reported when you originally changed the status to AWC.

8. What will happen with listing stats?

• You will see a gradual change during the time the status is disabled until the remaining listings in AWC are changed to Pending on December 19.

• We expect the natural attrition of approximately 200 listings per day moving from AWC to pending or sold will reduce the current number of AWC listings from 7,000 to approximately 1,000 between November 1 and December 19.

Don’t see your question addressed here? Email your question to: AWCremoval@mfrmls.com

One thought on “Active with Contract status removal

  1. Why would you remove a very clear message “contract” and replace it with “pending”. Folks on Realtor.com and other sites would certainly understand contract more clearly than pending….what does that mean??

Comments are closed.