Updating a Listing's Status after a Sale

To update a property listing, in the Active Business list (or Home page) click the address link of the property listing.

If you are representing the buyer

When the listing status changes to:

·       "Closed" - the ownership status on the contact's Properties tab changes from "Buying" to "Own", and the buyer's Active Buyer setting is cleared (in the Buying Preferences tab). In the property record, the Purchase Date, Move In Date, and Purchase Price are updated to reflect the Closing Date, Move In Date, and Sale Price from the listing. You are also asked if you want the buyer’s home address and move-in date updated to reflect the purchased property. If you do not because the buyer is not moving in until a later date, remember to set a Move In Date reminder and to change the buyer’s home address information on the move in date.

·       "Canceled", "Expired", or "Withdrawn" - the listing property is removed from the buyer's Properties tab.

For any of these statuses, the listing is removed from the Active Business list and recorded in the contact's business history.

If you are representing the seller

When the listing status changes to:

·       "Closed" - the ownership status on the contact's Properties tab changes from "Own" to "Once Owned". If this was the contact's primary residence, that setting is cleared. In the property record, the Sale Date and Sale Price are updated to reflect the Closing Date and Sale Price from the listing.

·       "Canceled", "Expired", or "Withdrawn" - the listing is removed from the Active Business list.

For any of these statuses, the listing is recorded in the contact's business history.

If you are representing both

When the listing status changes to "Closed":

·       Seller - the ownership status on the contact Properties tab changes from "Own" to "Once Owned". If this was the seller's primary residence, that setting is cleared. In the property record, the Sale Date and Sale Price are updated to reflect the Closing Date and Sale Price from the listing.

·       Buyer - the ownership status on the contact Properties tab changes from "Buying" to "Own", the buyer's Active Buyer setting is cleared, and on the property record, the Purchase Date, Move In Date, and Purchase Price are updated to reflect the Closing Date, Move In Date, and Sale Price from the listing. You are also asked if you want the buyer’s home address and move-in date updated to reflect the purchased property. If you do not because the buyer is not moving in until a later date, remember to set a Move In Date reminder and to change the buyer’s home address information on the move in date.

·       The listing is removed from the Active Business list.

If the listing status is changed to "Canceled", "Expired", or "Withdrawn", the listing is removed from the Active Business list and the listing property is removed from the buyer's Properties tab.

For any of these status changes, the listing is recorded in both contact's business history.

If a sale falls through

A listing can be changed from "Sold" back to "Active". As a result:

·       All selling fields are removed.

·       If the Agent Representing is "Both", it is changed back to "Seller", the link to the buyer contact is removed, and the property record is removed from the buyer contact's Properties tab.