It means exactly what it says: an agent will assign a seat to you at the gate. Chances are the flight is overbooked, so they're still figuring out who is flying and who is not.
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Keep in mind that seat availability for same day standby travel will not be known until thirty minutes before the flight departs. During that time, be sure to stay in the boarding area, wait for your name to be called, and respond right away when the gate agent calls your name.
If you were not able to make an advance seat assignment, keep an eye on the seat map as these seats will begin to open up once check-in begins and then once the gate opens for the flight. If you see a note to see the agent on your boarding pass, you may be in luck.
It just means that your seats aren't assigned yet. The seatmap doesn't show all available seats because not all seats are assignable in advance. You will get seats at check-in or at the gate.
You will know if your cleared by the boarding pass they give you it will either be a standby pass (no boarding position or a boarding pass with position) if you get a standby pass check in at the counter when you get to your new next gate and let them know your there in case they cannot clef you right then.
Seat AssignmentYour seat will not be assigned until after you check in to your flight. If your seat number does not appear on your boarding pass, your seat will be assigned at the gate before you board.
With Basic Economy, you'll automatically be assigned a seat before boarding, and you won't be able to change your seat once it's assigned. Advance seat assignments may be available for purchase during booking and up until check-in opens.
If there are not enough passengers who are willing to give up their seats voluntarily, an airline may deny you a seat on an aircraft based on criteria that it establishes, such as the passenger's check-in time, the fare paid by the passenger, or the passenger's frequent flyer status.
Yep, they sure do. At the airline I retired from, and every other major airline I've ridden on, the lead flight attendant receives a printout of every name of every passenger on the aircraft along with their assigned seat.
Most flights nowadays have standby passengers awaiting that precious open seat. Giving the airline enough notice also improves your chances of being rebooked on the next available flight, space permitting. And just because you're late doesn't mean you should throw in the towel.
The exact percentage of airline standby customers who get off the list and into seats on average varies depending on the airline, flight, and other factors. Generally speaking, however, it is estimated that around 50-60% of those listed as standbys are able to board their flights.