Home Buying in Phoenix>Question Details

Nina Limmer, Home Buyer in Phoenix, AZ

"Off market" listing?

Asked by Nina Limmer, Phoenix, AZ Tue May 15, 2012

Why does a listing jut go "off the market", a few I've been following have done this, does anyone know why this happens?

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Answers

13
If you are specifically referring to Trulia, as soon as a property is in pending status, it shows up on this site as "off market." As many others have mentioned before, it is an indication that a property has a contract on it and is no longer being marketed. In many instances, properties are receiving multiple offers within hours of being entered in to the MLS here in Phoenix, so if you are following certain properties, it may not be unusual to see a status change on it the very next day.

If you're working with a realtor, and are serious about making a move on a property that catches your eye, you should make sure you have discussed the type of offer you are willing to make, have your pre-approval letter or proof of funds handy and ask them to put you on a daily email update that sends you real-time new listings straight from ARMLS so that you are prepared to make an offer quickly.

Good Luck,
Chris Spalding
Realty ONE Group
(602) 312-7237
1 vote Thank Flag Link Mon May 21, 2012
It depends on where you are seeing this information. Many web sites only show active listings. Once it is under contract and changed to a pending status it will disappear from secondary (non MLS) sites.

If you are referring to the MLS status "Temporarily off market" (TOM), there could be numerous reasons. The most likely in our current market conditions is that it has received multiple offers already and the agent has removed it from active listings so that the existing offers can be reviewed. Some properties are getting dozens of offers. TOM allows an agent, with the seller's permission to remove the listing from active so that the seller doesn't have to continue with additional showings while reviewing the offers already submitted.

Other reasons for TOM could be that the seller has guests, or is having work done to the property and simply doesn't want showings during that time.

If the property is under contract, it will be marked either pending or AWC depending on whether there are outstanding conditions or contingencies to be settled.

I hope this helps you.

Adam Tarr PC
Citywide Real Estate
480-236-7374
1 vote Thank Flag Link Tue May 15, 2012
Or in most cases the owner(s) of these assets have decided to close the listing which also makes the property off market.
0 votes Thank Flag Link Wed Dec 5, 2012
Pocketlistings.net
"Combine Google, Craigslist, and Match.com… for real estate. That’s us."
http://blog.pocketlistings.net/tutorial/
0 votes Thank Flag Link Tue Oct 30, 2012
PocketListings.net
"Combine Google, Craigslist, and Match.com… for real estate. That’s us."
Tutorial here:
http://blog.pocketlistings.net/tutorial/
0 votes Thank Flag Link Tue Oct 30, 2012
In this market more than likely has an offer and waiting for appraisal and inspections to complete before going pending.

It can be issues with seller and agent too, however less likely in this market.

Lucinda Tkach
phoenixrealtorservice@gmail.com
0 votes Thank Flag Link Tue May 15, 2012
Some times the listing agent gets the seller to sign a sheet that lets them take it off the market just so they can show they sold the property in less days that it really took to sell.

Stan
0 votes Thank Flag Link Tue May 15, 2012
If the listing says off market the seller has most likely decided not to sell, normally due to price. Will not come down to be comparable with the market price.
0 votes Thank Flag Link Tue May 15, 2012
Hi Nina,
Most likely the property is under contract. Currently many properties are under contract within a couple days of being listed. Are you referring to “temp off the market, AWC or pending? It also depends what site you are looking at for the status. If you would like I can get you set up on an MLS portal so that you have the most up to date information. Have a nice day.

Mike Cave
REALTOR®, ABR®, e-PRO®, SFR, RESC
Arizona Premier Realty Homes & Land
Cell: (602) 410-7660
Office: (623) 594-7680
Fax: (602) 978-0003
7200 West Bell Rd. St. I-400
Glendale, AZ 85308
Email: MikeCaveRealty@msn.com
Website: http://www.searchAZrealty.com
Website: http://www.MikeCaveRealty.com
"Premier Real Estate Services with Integrity"
0 votes Thank Flag Link Tue May 15, 2012
In addition to these reasons, sometimes a seller doesn't want a property marketed while they are out of town, there can be title issues that need to be resolved, or a bank/relocation company or court can step in with instructions that require an agent to comply with new terms or arrangements. The best way to find out if a property is going to come back on the market is to have your agent contact the listing agent to get a status update.
0 votes Thank Flag Link Tue May 15, 2012
Nina,
Listings could be temporarily put off the market for several reasons: the Seller (if they are still living in the house) does not want to show the property during a certain period of time for various reasons. Even if they are not living in the house, and find out that they may have to complete some extra work on the house, they do not want to have the liability while work is being done on the house - so the Sellers choose to put it off the market.

I hope this helps,
Please call me if I can be of further assistance.
Steffy Hristova, MBA, SFR, Realtor®
HomeSmart
Tel: (480) 966-9353 Fax: (602) 507-3703
3131 E. Camelback Rd. #125
Phoenix AZ 85016
http://www.talktosteffy.com
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Tue May 15, 2012
Agents change the status to "Temporarily off the market" for a variety of reasons. If multiple offers are received, some agents use the temporarily off the market status to allow time to review the offers. Another reason may be some repairs are being made and they don't want people accessing the property.
0 votes Thank Flag Link Tue May 15, 2012
Off the market can be one of several things. It could have expired. All listings have a start and stop date but normally when they expire they show as expired or don't show up anymore at all. Off market can also mean under contract, although normally a property that is under contract says under contract or no longer shows up for sale. My guess is the owner or agent has taken the house off market for some reason, such as work being done to it or for some reason temporarily. Being off market means it can not be shown to buyers.
0 votes Thank Flag Link Tue May 15, 2012
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