Customize stages in Potentials tab

Customize stages in Potentials tab

Is there a way to set the stages field so it is a parent/child defined map?

We have several types of properties we work with and all of them have different stages that occur when moving through the process.

For example:

Property Type = Short Sale
Stages:
Offer Submitted
Offer Accepted
Offer Rejected
Justification Package
Bank Negotiation
Approved Short Sale
Escrow
Closed
etc.

Property Type = Free & Clear
Stages:
Offer Submitted
Offer Accepted
Offer Rejected
Due Diligence
Escrow
Closing

so forth and so on with the various types of property we buy and sell. Is there a way to set up the stages to reflect the current property type and the various stages similar to the Parent/Child defined mapping found with pick lists?

Please advise ASAP