Under Contract- Continue to Show vs Under Contract

 

When you get an accepted offer on a property and go into Connect to update the status of the listing, you might wonder which status you should choose: Under Contract- Continue to Show (UC-CTS) or Under Contract (UC). These two statuses look and sound quite similar, which can sometimes lead to confusion.

 

Here are the full definitions of each, per SmartMLS Rules & Regulations:

Under Contract-Continue to Show (UC-CTS)- Means that either (i) have executed and delivered a purchase and sale agreement or, if earlier, (ii) have executed and delivered a written bilateral offer to purchase, and, in either case, contingencies remain and the Seller requests that the Listed Property remain on market for backup offers.

Under Contract (UC)- The status of a listed property when the Seller and the potential buyer of the listed property either (i) have executed and delivered a purchase and sale agreement or, if earlier, (ii) have executed and delivered a written bilateral offer to purchase, and, in either case, the Seller has not requested that the Listed Property remain marketed for back-up offers. Each Under Contract Listing shall be considered to be “off market”.

 

The major difference between these two statuses comes down to whether or not the seller would like the property to remain on the MLS for backup offers and additional showings.

  • If the seller would like to continue to entertain offers and have the property be shown to other interested parties, the listing must be marked Under Contract- Continue to Show.

  • If the seller does not want to deal with backup offers or have any more showings, the listing must be marked Under Contract.

 

Some additional distinctions between UC-CTS and UC:

  • Neither status is determined by a deposit check.

  • Neither is dependent on the satisfaction of any contingencies or conditions of the contract that must be met prior to closing.

  • You cannot go directly from Under Contract- Continue to Show to Closed. You must always mark the listing Under Contract first.

  • Days on Market (DOM) will continue to accrue after a listing is marked UC-CTS; it stops accruing once a listing is marked UC.

Note: when changing a listing from UC-CTS to UC, the DOM will adjust based on the Contract Date you enter (the Contract Date must be between two days prior to the Continue to Show Date and the current date). If the Contract Date matches the Continue to Show Date you entered when you marked it UC-CTS, the DOM will decrease accordingly.

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