The real estate industry just announced some upcoming changes to the MLS® listings that will make the sales process more transparent and informative for both REALTORS® and home buyers/sellers. Starting from late May to early June, MLS listings on platforms like Paragon and Realtor.ca will feature new sale statuses, giving everyone a clearer picture of where a transaction stands.
What Are the New Statuses?
There are three new statuses:
- Active Under Contract: This optional status indicates that a listing has an accepted offer with conditions attached. So that the public can new view if the listing has an accepted offer or not.
- Pending: Replacing the current “Sold” status, this label will be applied to listings with an accepted offer without conditions, or once all conditions are resolved.
- Closed: Listings will automatically transition to this status upon completion of the sale.
More Recent Sold Prices on Realtor.ca
In addition to the new sale statuses, they also enhancing the information available on public-facing listing websites like Realtor.ca. Starting from late May to early June, all listings with the new “Closed” status will automatically display their sale price, providing more transparency to prospective buyers and sellers.
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It is so important to us that you feel empowered and educated throughout the buying and selling process – if you want to achieve your real estate goals or are thinking about listing your home soon, give us a call, text, or email with any questions you have! We can answer all of your questions, and give you specific tips related to specific neighbourhoods, schools and more. We’re here to help.