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Todd Beardsley
Todd Beardsley, of MenloAtherton Realty, gives some helpful hints:
Guide to MLS Searches
by Todd Beardsley
When you are surfing the internet for listings most sites will show you only new listings. While this is great information, it is really only a small part of the information which flows from the MLS.
It’s all about the status. In our local MLS system we have 8 different statuses for properties ranging from a new listing to a withdrawn listing. When you receive my daily email summaries, they will have a small icon at the top left corner of each property page telling you what the status is for that property. Each listing will also contain a map and links to more info.
When you receive this additional information you are able to follow a listing through its full life cycle including any price changes as well as the final sale price. Also, seeing which listings expire unsold or get withdrawn from the market provides valuable insight into your particular market.
These searches can be set up to be as broad as an entire county or as narrow as a particular street. You choose what you see and don’t see. Additionally, search results can be configured to come to your inbox daily, weekly or monthly which is much more convenient than receiving one email for every new listing or listing change.
To receive all statuses of listings the search must be configured on the admin side of my web site. Unfortunately, no other web sites and neither of my data providers are set up to allow users to set up and receive all listing statuses.
Below is a list of all MLS statuses and a short description.
- Active Listing. This can indicate three possible scenarios 1) A brand new listing. 2) The list price was changed. 3) There is a prior listing agreement in place but the property was withdrawn from the MLS for a period of time and just now brought back to an active status.
- Pending Sale Continue to Show. This property is in escrow but the contingencies have not been removed so agents should continue to show the property to their clients.
- Pending Sale, Contingencies Released. This property is in escrow and the buyer has released all contingencies. The agent is not stating whether or not other agents should show the property.
- Pending Sale No Show. This property is in escrow, contingencies may or may not be released but the listing agent is requesting that the property not be shown to clients.
- Sold Listing. This home just closed escrow.
- Expired listing. The contractual agreement between the seller and the listing agent has expired.
- Cancelled Listing. The contractual agreement between the seller and the listing agent has been terminated. Unfortunately it is also often incorrectly used to temporarily withdraw listings from the market.
- Withdrawn Listing. This can mean only one thing: there is a valid listing agreement in place but for some reason the seller has decided to withdraw the property from the market.
If you would like to have me set up free MLS searches and receive all of the various statuses simply send me an email with the city(s) and price range you would like to receive and I will take it from there. You can reach me at todd@menloathertonrealty.com.
This information was created by Todd Beardsley. He is a real estate agent in the Palo Alto, Menlo Park area.