Why is this property still listed when it is under contract?

Asked by Lyn, New Jersey Thu May 14, 2009

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This question is about this property: http://www.trulia.com/property/1079159910-4160-Via-Mirada-Sa…

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Answers

8
Christina Mi…, Agent, Bradenton, FL
Mon Nov 22, 2010
Actually Trulia and other websites CAN differentiate between pending and active listings. The RETS server that distributes the information is as current as the MLS. The problem is, with the millions of listings in the United States it would be terribly expensive for Trulia and the likes to update the listings daily. It is extremely cost prohibitive to maintain accurate data on this scale. I have a private dedicated server that I co-locate at a data center sitting on a main internet pipe and for me to update the 22,000 listings on my website takes better than 2 hours... And that is just for the 3 counties in my service area. Quality of data depends on how much processing power your systems have and for Turlia to do the entire US daily, they would need such a network of servers they could no longer provide services to home searchers and real estate agents for free. They do a great job with what they can reasonably afford while continuing to stay in business.
1 vote
The Serena G…, Agent, Bradenton, FL
Thu May 14, 2009
Hi Lyn!

Most REALTORS will continue to market their listing client's home until the contract has gone completely through the process and finishes in a successful closing.

Unfortunately, not every property that goes "under contract" makes it to the closing table successfully. If the REALTOR stops marketing the property when they receive a contract, and the contract fails... a lot of valuable time has been lost if the marketing efforts have ceased.

I'm not sure if this is the case for this particular property, but that's my "educated guess!"

Hope that helps...

If you'd like to search for other homes that meet the criteria that you desire... please visit our website to use our "free home search." You can dictate the criteria, price, etc. and do a search.... then save your search and you will receive automated email alerts when new listings come on the market that match your criteria!

Enjoy the rest of your day...

Wendy Herndon
REALTOR / Office Administrator
The Serena Group
Keller Williams Realty
1 vote
Donald Straka, , Sarasota, FL
Fri Apr 15, 2011
It is not under contract.
0 votes
Louise Hamel, Agent, Sarasota, FL
Thu Apr 7, 2011
Hi Lyn,
In addition to the other answers, you might be interested to know that the MLS system to which the agents subscribe is the only up to the minute listing service for properties. Trulia is a fantastic site where consumers can peruse the listings and get information from a selection of agents. There is, however, a lag time between the the posting times for the Realtor MLS and free service from sites like Trulia. This is a great place to start your search to get an idea of neighborhoods and price ranges. Once you settle on your wants and dreams, contact an experienced agent who can send you properties that match your criteria the moment they become available. You can search agent sites for up to the minute information as well. Let me know how I can help!
All the best,
Louise
Louise Hamel, Realtor, GRI, TRC
Michael Saunders & Company
61 South Blvd. of the Presidents, Sarasota, FL 34236
Five Years of Five-Star Customer Service Awards
941-780-7474
0 votes
Bill Swartz, , Sarasota, FL
Tue Mar 22, 2011
Who knows it's not my listing.
0 votes
Jim Vitale, Agent, Sarasota, FL
Wed Nov 10, 2010
Trulia can not differenciate between pending and active
0 votes
The Wright T…, Agent, Sarasota, FL
Wed Oct 27, 2010
If the property is under contract it has to be shown has pending in the computer. It cannot be left active. It's a disservice to the buyers that might fall in love with this home and not be able to purchase it. I resent showing a property that has a contract on it. It's a waste of the Realtor and the client's time. This has happened to me in a short sale. I had a signed contract with the seller but the agent kept it active and took in another contract 2 weeks after mine. So after 2 months of waiting, we were told that the bank had not made up their minds on which contract to accept. My buyer wasted two months of her precious time.

Rose Wright
Web Reference:  http://www.RoseWright.net
0 votes
Teresa M. Fe…, Agent, Sarasota, FL
Thu May 14, 2009
Hi Lyn,

Per MLS rules, listing with contracts that have been executed by both buyer and seller or listings which have not been signed by the seller but have been sent to a lender for approval, need to be placed into pending status. This property is listed as pending in our MLS system. The agent may still market the property for sale and hope for backup offers but should disclose to buyers that the property is under contract.

My best,
Terri

Teresa M. Fellows
Broker/Associate
Waterside Realty LLC
941-350-4297
tmf4257@mac.com
http://www.floridawestproperties.com
0 votes
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