Contingent vs. Pending Status or I have an accepted offer—now what?

Members sometimes question whether a listing should be placed into a Contingent or a Pending status during the period between the time the seller has accepted an offer and the close of escrow. Here is a brief guideline to help you determine the proper status for a listing with an accepted offer:

If your seller has accepted an offer and one or more contingencies are in place, the listing status should be Contingent – Show, Contingent – No Show or Contingent – Release. Contingent listings will automatically change to an Expired (X) status on the expiration date of the listing.

If the seller has accepted an offer without contingencies or all contingencies have been removed, the listing status should be Pending. Pending listings will not automatically change to an Expired (X) status on the expiration date of the listing.

Brokers and agents are responsible for reporting the accurate status of a property and should be equally concerned about the representation of time a property has been “on the market” to potential buyers. We encourage you to review your Contingent & Pending listings to ensure they are in compliance with BAREIS Regulations.

As always, a change of status shall be reported to BAREIS within 3 business days of occurrence.
BAREIS Status List & Definitions:  http://bareis.com/listing-input#lists