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Pending Vs. Contingent
Posted by Chris Peterson on Thursday, September 24, 2020 at 8:03 PM
Categories: Training
Contingent Listings and Pending Listings

Both Contingent and Pending are used to identify that a listing has an offer.

Contingent:
  • The listing is still being marketed (active) & will be transmitted to the internet (Sellers RIGHT to continue to market signed by Buyer & Seller)
  • Offers will still be accepted
  • Bump Clause in Agent Remarks (required)

Pending
  • Offers are not considered
  • Listing not transmitted to the internet

See Section 1.6 of the IMLS Rules & Regulations for more information - "Listings marked “contingent” in the MLS system must include the terms of the contingency along with the time frame for removal of the contingency in the Agent Remarks Section of the MLS.All other listings with signed offers to purchase shall be marked "pending.” "

September is almost over and if you still need to complete the IMLS Rules class there is still time. This can be completed online or at an in-person class at the MLS Office OR When IMLS has training in Moscow or Lewiston.

To complete online - there is a recorded class and quiz for attendance. Here is the link - https://bit.ly/RulesDirect

To Register for a live in-person class here is the class calendar - https://www.imlsmembers.com/TrainingInfo/Calendar.aspx
There is VERY limited space due to distancing.
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