The difference between a WITHDRAWN listing and a CANCELLED listing is:
WITHDRAWN – a listing that is still the subject of a valid listing agreement and would otherwise be available for sale, but is not being actively marketed on the MLS at the current time. A property subject to a Withdrawn listing IS NOT FREE to be listed by other agents.
CANCELLED – a listing which both the seller(s) and the listing broker have signed a written agreement, legally documenting their mutual agreement terminating an existing listing contract that has not reached its expiration date. The Cancellation agreement severs their obligations to each other. A property subject to a Cancelled listing IS FREE to be listed by other agents.
Please keep these definitions in mind when making changes to your listings especially in the case of properties taken over by a bank in a foreclosure situation. A listing taken over by a bank or financial institution needs to be marked as CANC.
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