Temporarily Withdrawn, Released, and Returning to Active - What's the Difference?
Temporarily Withdrawn, Released, and Moving a Pending Listing to Active – What's the difference?
Temporarily withdrawn:
- There is an active listing agreement in place but has temporarily been removed from the market. It is not available for showings and is not actively seeking offers. Days on market do not accrue.
- What to use? CVR MLS 357 - Addendum to the Residential Listing Agreement. The listing agent can update the status in Matrix.
- When to use? Examples: The seller wants to take the listing off the market for an extended vacation. Or, you have a Coming Soon that is not ready for an active status.
Release of listing:
- The listing agreement that the listing was entered under has been released/terminated. There is no longer an active listing agreement between the listing agent and seller.
- What to use? CVR 375 - The Release of Listing Agreement. Only a broker can release a listing in Matrix.
Moving a Pending listing to an Active status:
- If a Purchase Agreement is released by the parties and/or terminated by one party, you may return the listing back to an active status. A release must be fully executed by the parties. The Notice of Termination must be executed and delivered in accordance with the terms of the Purchase Agreement.
- What to use? CVR 365 - Release of Purchase Agreement must be fully executed by all parties. CVR 367 - Notice of Termination must be signed and delivered in accordance with the terms of the Purchase Agreement. If proper documentation is in place, the agent can move the listing to an active status in Matrix.
- When to use? CVR MLS staff can not advise agents or their clients on releases or terminations. We encourage you to speak to your broker or appropriate legal counsel for a party’s release or termination rights.
