This is the second in a series of posts where “Frank” answers your questions. To ask Frank a question, see this post.
P.R. writes: AWC seems over used lately. What’s up with that?
Frank: Ugh! Short Sales and Lender Owned listings have screwed up how AWC gets used. When these listings started to flood our market many Agents were unclear as to when the listing should be moved from Active status. Buyers and Sellers were waiting to hear from the banks, Buyer’s Agents were getting frustrated when finding ‘Active’ listings were not available, so there was a big push to get the listings out of Active status and into a status that more accurately reflected the state of offer/contract. Thus the influx of listings into AWC.
To further clarify, the decision to change a listing to AWC vs. Pending is at the sole discretion of the Seller, and determined by their desire, or not, to continue to market the property. If they wish to continue to market, then the listing goes to AWC. If they do not, then Pending is appropriate.