Myers Jackson Explains MetroTex Definitions

Myers Jackson explains MetroTex definitions. Brokers and REALTORs use them everyday. Their purpose is for listing and helping clients find properties. Texas Real Estate Broker and licensed Auctioneer TDLR 17057 Myers Jackson describes the different MetroTex definitions.

MetroTex Association of REALTORS

Serving over 14,000 Texas real estate professionals is the MetroTex Association of REALTORS. These professionals cover all aspects of the real estate sector. The 104 year old institution is the largest REALTOR association representing the entire region. In fact, the real estate industry, real estate professionals and private property rights benefit from MetroTex. It is part of the North Texas Real Estate Information Services (NTREIS).

Besides the headquarters located in Dallas, there are 5 additional North Texas locations:

Duncanville
Grapevine
Lewisville
Richardson
Rowlett

Heading up the MetroTex Association of REALTORS is president Bill Jordan, President Elect Taylor Walcik, Secretary/Treasurer Belinda Epps, and 18 Directors.

Definition Purposes

Indeed there are distinct purposes for using the appropriate definition when listing or updating a property on the NTREIS MLS. Each stage of the selling process has beneficial times for buyers, sellers, and real estate professionals. Therefore, listing the property properly on the MLS takes advantage of those important time frames. For example, showings. Homes are selling quick in the North Texas area. Neither clients nor real estate professionals can afford losing time by scheduling showings for a home which is no longer on the market.

MLS Status Definitions

Therefore, the following descriptions determine the status of MLS listings. They and their definitions are:

ACT Active: Property is available for sale and must be available for showings. Will expire on the original expiration date the agent entered.
CON Active Contingent: Seller has accepted an offer but has requested that property remain available for showings and Seller will entertain backup offers. Will expire on the original expiration date the agent entered.
OPT Active Option Contract: Seller has accepted an offer but the Buyer is exercising the option period from the sales contract. Still available for showings and backup offers. Will expire on the original expiration date the agent entered.
KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer. (refer to TAR Form 1908) Still available for showings and backup offers. Will expire on the original expiration date the agent entered.
PND Pending: Property has an offer (Contract with no contingencies, Kick Outs or Options). The seller requests no further showing and does not want to entertain backup offers. Pending listings do not expire and will stay pending until closed.
WTH Withdrawn: Based on the terms agreed to between the Seller and the Listing Broker in the “Termination of Listing Form” (TAR Form 1410) the property is no longer available for showings. Due to the conditions of the “Termination Form” the property cannot be re-listed with another broker. Will expire on the original date the agent entered.
CAN Cancelled: Based on the terms agreed to between the Seller and the Listing Broker in the “Termination of Listing Form” (TAR Form 1410) the property is no longer available for showings There were NO conditions in the “Termination Form”. The seller is free to re-list their property with another broker.
TOM Temp Off Market: Owner has a reason they would not like to shown the property for a period of time but they are still under a listing agreement. Temporarily off market used for various reasons (i.e. remodeling, owner illness, etc) THIS IS A TEMPORARY STATUS and should not be used in place of the Cancelled or Withdrawn status. Will expire on the original expiration date the agent entered.
EXP: Listing has expired
SLD: Listings has sold closed*

Furthermore, TAR Form 1908 is the “Addendum For Sale Of Other Property By Buyer”. TAR Form 1410 is “Termination Of Listing Between The Undersigned Parties Concerning The Property Located At”. TAR is the Texas Association of REALTORS.

Additionally, “Myers Jackson” is licensed as a Real Estate Broker: AL, FL, GA, MS, NY, OK, NM, KY, TN, PA, KS, CO, NC. Myers Jackson Licensed Texas Real Estate Broker 0698695. Myers Jackson Licensed Auctioneer: Florida AB3428-AU2726, Georgia AU003046, Mississippi, 1302-1303F, Louisiana AU1805, South Carolina AU4313, Ohio 2012000042, Indiana 11200062, Pennsylvania AU5771, Virginia AU004173, Texas TDLR 17057, Kentucky 255878, Tennessee AU6617, North Carolina 9339-9331. Auctioneer License Disclosures may be found on Individual pages within the website.