Clearer Searches and More Exposure: Big Changes Coming to the Sioux Empire Real Estate Market

Exciting news for anyone involved in the Sioux Empire real estate scene! Effective May 14th, the REALTOR® Association of the Sioux Empire (RASE) is rolling out some significant updates to how properties are listed on the MLS, and it’s designed to make the process smoother and more effective for everyone.

The biggest change? A simplification of listing statuses. This might sound like a technical detail, but it has a real impact on how properties are searched for and how much exposure sellers get.

Simplifying How We See What's Available

Previously, there were several different "active" statuses that could sometimes be a bit confusing for buyers trying to understand if a home was truly available to see or make an offer on. The RASE MLS is streamlining this.

Moving forward, you'll see a clearer set of statuses:

• Coming Soon
• Active
• Pending
• Canceled
• Off-Market
• Expired
• Sold

The key takeaway here is the consolidation into a single, powerful "Active" status.

What Does "Active" Mean Now?

Under these updated statuses, if a listing is marked as "Active," it means one simple thing for buyers: the property is on the market and available for showings.

This includes properties that might have a contingency, like the buyer of an accepted offer needs to sell their current house. If a home is Active with a contingency like this, the listing will include a clear explanation of the details, such as any "kick-out" period (a timeframe during which the seller can accept another offer). The status itself isn't limited by what kind of contingency it is (inspection, financing, home sale, etc.) – if it's still available for showings and offers, it's Active.

What About "Pending"?

The "Pending" status is now more clearly defined. A listing is marked "Pending" once an accepted purchase contract is in place. At this point, the home is generally no longer available for showings because the seller is working towards closing with a specific buyer. This status covers properties that are awaiting completion of various conditions, like inspections, appraisal, final loan approval, or the closing of the buyer's other property.

How These Changes Benefit You

This simplification brings welcome clarity to the Sioux Empire market:

• For Buyers: Searching for homes just got easier! When you see a property listed as "Active," you know it's genuinely available for you to potentially tour and place an offer on. This cuts down on confusion and helps you focus your search on homes you can actually pursue.
• For Sellers: Your home gets maximum visibility when it's in that prominent "Active" status. With fewer confusing sub-statuses, your listing is more likely to be seen by serious buyers actively searching for available properties online. This increased clarity can lead to more interest and showings for your home.

By streamlining the statuses, the RASE MLS is helping everyone get a clearer picture of the market and connecting buyers with sellers more efficiently.

Navigating real estate is always a journey, but updates like these help make the path clearer. If you have questions about how these MLS status changes might affect your home search or your plans to sell in the Sioux Empire area, don't hesitate to reach out to one of our agents. We're here to help you understand the market and achieve your real estate goals.