The infamous Red Acive status in the Multiple Listing Service has been the bane of most agents’ existence since its inception. Basically, it allowed agents to keep a listing active after an offer had been accepted so that they could still show the property and accept back up offers. Sounds good in theory, but on all the websites other than the MLS these properties show as still on the market. So clients naturally ask about them. When I tell them the property has an accepted offer, they doubt me when days later, they still see it as being on the market. It causes them to expend too much energy looking at listings that are not available to them.
Starting tomorrow (May 21) that status will go away and will be replaced by CTG – contingent. This will appear on all the websites and will indicate that an offer has been accepted but is contingent on some next step – inspection, mortgage commitment, etc.
SO when you are looking on Zillow, Redfin, Trulia, wherever…and you see a listing say Contingent, you will know – it has an accepted offer!