Saved Searches and the Advantages of Using “Active Under Contract”

When the new Status Values are introduced, existing saved searches will update automatically to reflect the new statuses.

Here’s what you need to know:

Saved searches will be updated as follows:

  • Searches containing “Active” will include both “Active” and “Active Under Contract” listings.
  • Searches containing “Sold” will include “Pending” and “Closed”. (Note: “Pending” replaces “Sold”.)

While saved searches are automatically updated, it’s important for members to review for accuracy and alignment with their client’s preferences.

Client-Centric Updates: A client’s saved searches will receive these updates, ensuring they receive up-to-date information via email and Collaboration Centre.

Clients using Collaboration Centre may see increased notifications due to the additional status values. Notifications will now include “Active Under Contract”, “Pending”, and “Closed” statuses.

Understanding the Pros and Cons of “Active Under Contract” Status:

Pros:

  1. Transparency: Provides clarity by indicating there is a conditional deal.
  2. Communications: Streamlines communication between agents, reducing unnecessary exchanges.
  3. Statistical Insights: Offers more granular statistical data.
  4. Flexibility with Searches: Allows filtering out “Active Under Contract” listings for tailored searches.

Cons:

  1. Incomplete Picture: Not all members and clients may use this status, potentially obscuring some listings with conditional deals.
  2. Confusion: Clients may struggle to differentiate between “Active” and “Active Under Contract”.

What to tell clients:

  1. Flexibility: Usage of “Active Under Contract” is optional; sellers may keep their listing “Active” if preferred.
  2. Backup Offers: Buyers’ agents can still contact listing agents for backup offers for a listing listed as “Active” or “Active Under Contract”.
  3. Search Results: Searches for “ALL ACTIVE” display both “Active” and “Active Under Contract” listings.
  1. REALTOR.ca: Currently, only “Active” listings are showcased, but could include “Active Under Contract” listings in the future.

These updates aim to streamline processes and provide transparency, benefiting both industry professionals and clients, alike.