We’ve got some news to share! Effective 12/09/2020, withdrawn listings that reach their expiration date in IRES MLS, will expire.
Why the change? The “Withdrawn” status indicates that the property is no longer on the market, but still has a valid listing contract in place. Once reaching the expiration date, there is no contract in place for the listing. The “Withdrawn” status is no longer applicable; the listing should be updated to expired.
How does this impact you? When we make this database update with our upcoming system update next week, a spike in Expired listings will appear on hotsheets. That doesn’t mean all these listings expired at midnight on 12/08/2020; it includes the entire database of listings in a Withdrawn status (250,000+ listings!) going back to the first listings ever generated in the IRESis.com system. So, a listing in a Withdrawn status with an expiration date back in 2012 will show up in an Expired status as of 12/09/2020. This will also impact brokerages with your inventory reports and back-office feeds. You’ll see an influx of your old listings update from withdrawn to expired.
Moving forward, as listings in a Withdrawn status reach their expiration date, their status will update to Expired, just as they do now in an Active or Pending status.
Please reach out with any questions or drop us a comment below.
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