There may also be what other agents have spoken about...short sales, foreclosure...these properties sometimes have other circumstances that involve 'verbal accept' or 'pending lender approval'. Many times, they will still show active in the system.
Short Sale Specialist
That property is a foreclosure listing. I am not saying this is the case with that home but I want to explain what is often going on in circumstances like this.
When a bank owns a home and lists it for sale with a realtor, often there is a third party asset manager involved, several administrators for the bank, and possibly another from Fannie Mae or Freddie Mac. This can create a HUGE delay in getting back signed paperwork from the seller. So the listing agent may be telling people it's under contract and off the market because the seller has agreed to terms with a buyer, but until he/she has signed paperwork from the bank to turn in to the listing service, they are not going to take it off the site.
If you have a realtor working on your side, he/she can follow up on properties like that so you're not wasting your time checking on homes like that over and over. The best part is that having a realtor represent you doesn't cost you anything, plus it may save you a ton of frustration, and will better focus your search with more specific search engine functions.
It is unfortunate inaccurate information is posted but until consumers demand better, report errors, post negative reviews, and file complaints with the industry regulators; the current state of the market will continue to be the status quo.
You are not alone in your frustration.
Believe me, the real estate community is constantly frustrated with agents who do not keep their online listings current. However there can be lots of mitigating circumstances these days which can cause this to happen. Sometimes the listing is a short sale and the agent is waiting on approval from a bank who is dragging its feet. Sometimes there are online search engines who do not update their information in a timely manner. That's why its always best to contact an agent personally to get to the bottom of a property inquiry. Never get excited about a home you find online until either the listing agent, or your buyer's agent has confirmed its availability.
Origins Real Estate