What is the difference between pending and active?

Real Estate Definitions

Pending – When a listing contract expires, it goes into pending. This means that there are no immediate time frames involved. The agent doesn’t have to have an open house or show it at any specific time, but they will need to negotiate a new contract with you when you are ready to make an offer. If another buyer comes along who has already made an offer on your place in-the-works, you might lose out even though your previous contract has expired.

Pending Has One Major Difference

In most cases, a property that’s listed as pending has been on the market for less than 30 days. In real estate lingo, a pending listing means it is still actively being shown to potential buyers. While it may sound like a good thing to have your home listed as pending, it could be a sign that there are some issues you need to address if you want a successful sale of your home.

Pending Status vs. Active Status

Not all properties are listed as Active. When searching for homes, it’s important to know which properties are Active or Pending. The real estate industry uses two main categories of listing statuses: Pending/Off Market, and Active. Each status serves a different purpose.

Does Pending Mean Sold?

Pending homes are not for sale. They are typically in contract with a buyer, but no closing has occurred yet. These homes are not actively being shown to prospective buyers, so they do not have for sale signs in their yard or an agent who can answer your questions about them. If you see a home that is listed as pending, it may still be available to you, but proceed cautiously because there may be another offer currently in place for that home.

Why Is This Important?

Understanding what your real estate agent means when they say your property is pending or active can be important. Understanding what you need to do next can make a big difference in how long it takes to sell your home. A simple definition of terms makes communication run more smoothly for both buyer’s and seller’s agents.

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