How Using Active With Contingency Incorrectly Hurts Statistics
August 2, 2019 MLS Updates Marcia Stirling
If you are not using the Active with Contingency status correctly, you are negatively affecting your statistics. The most important issues to note are the inaccuracies in the Days on Market & Cumulative Days on Market (DOM/CDOM), as Active w/Contingency is a subset of active and therefore the DOM/CDOM continue to calculate in this status. In addition, misuse of this status affects the representation of inventory, as these properties are considered ‘On Market’ as opposed to being ‘Off Market’ when marked as Pending.
Active w/Contingency means that you have a fully executed offer on a property, but you shall still continue to show it due to a specific contingency, period. If you are not showing the property, whether it has contingencies or not, it should be marked Pending.