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#130641 - 03/25/07 10:10 PM Properties that are withdrawn from the market.
Cool guy Offline
Major Contributor

Registered: 06/30/04
Posts: 2170
Loc: California
From your experience, what are some reasons why properties go off the market?

Also, any of you guys go after these properties?


Forgot to mention that I've had two. One, the seller decided not to move because his job improved. The other one, his job was a bit slow and selling would not be a good decision.

But a lot of homes show withdraw from the market on the daily basis. They can't all possibly be because of job related reasons.




Edited by Cool guy (03/25/07 10:33 PM)

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#130645 - 03/25/07 10:34 PM Re: Properties that are withdrawn from the market. [Re: Cool guy]
deu12000 Offline
Member

Registered: 08/05/06
Posts: 98
Loc: New Jersey
Refinancing, no offers, real estate agent not doing a good job, can't transfer job, personal reasons, no longer want to sell. These are some reasons, I'm sure there are a million more.

From what I've seen a lot of agents go after the withdrawn and expired homes. I haven't, but who knows what the future holds?

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#243518 - 08/09/08 05:27 PM Re: Properties that are withdrawn from the market. [Re: deu12000]
Ryan O'Neill Offline
Member

Registered: 06/17/08
Posts: 221
Loc: Minneapolis, Minnesota
There are a number of reasons why a home would be pulled off the MLS. Let's say you have a short sale, and you have executed the contract on the home. You are now just waiting on bank approval. In this case, many agents move the propery over to TNAS (temporarily not available for showings) on the MLS.

Then of course there will be expired listings...many agents do have a great expired campaign to target these listings. On our team here in Minnesota, we have a couple of great agents who have had success with this.

Then you may have your seller just out and out cancel a listing on you.

Minneapolis and St Paul like any city really, have a ton of cancelled and expired listings.

And of course there are closed sales...

All in all, we have found it very effective to go after cancelled and expired listings. Agents can set up a feature right on MLS to find out when these properties cancel or expire.

I hope this information helps.
_________________________
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#243525 - 08/09/08 06:11 PM Re: Properties that are withdrawn from the market. [Re: Ryan O'Neill]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7686
Loc: PA
In our area, withdrawn means only withdrawn from the MLS. It does not indicate a severance in the realtionship between the broker and the seller; the broker still has a contract.

It could be that the sellers no longer want it to be marketed but if the brokerage has a client they can show it. There could be any number of reasons a property is withdrawn - repairs needing to be made, illness in the family, personal reasons, or they did get mad at their broker and wants it off the market till the contract expires.

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#243531 - 08/09/08 06:54 PM Re: Properties that are withdrawn from the market. [Re: Ryan O'Neill]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 6257
Loc: Vermont's North-East Kingdom
Originally Posted By: Ryan O'Neill
Then you may have your seller just out and out cancel a listing on you.


For us, Withdrawn means WITHDRAWN. The Seller no longer wishes to dispose of the property at this time. Our Exclusives DO NOT allow for Unilateral Cancellation. If a Listing is Sold, it is SOLD; Pending is PENDING; Expired is EXPIRED. We have another (unnecessary category called CONTINGENT which means Pending AND also dependent upon something beyond just Financing, like a Survey, or a Building Inspection.

If we were to fall out of a good hunky-dory working relationship with a Seller Client, and we mutually agree to end our Listing Agreement; then we will Amend the Expiration Date to something like maybe TODAY, and then it's OVER. And that shows up in MLS as EXPIRED.

If a Seller is a LIAR and tells me that he no longer wants to sell and signs a Withdrawal, and then goes ahead and sells during the remainder of the Term of my Listing, I still collect (or certainly attempt to) a Commission. Then it's not so cordial; but I watch for this activity.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#243545 - 08/09/08 11:10 PM Re: Properties that are withdrawn from the market. [Re: Vermont]
barb43 Online   content
Veteran Member

Registered: 08/01/08
Posts: 1021
Loc: SW Okla
Here we have Conditionally withdrawn and Unconditionally withdrawn. Conditionally withdrawn means the seller and agent maintain a listing contract until the expiration date. Unconditionally withdrawn ends the listing contract and frees the property for others to pursue the re-listing.



Edited by barb43 (08/09/08 11:12 PM)
_________________________
Remodeling houses & helping tenants get ahead in life since 1983. Licensed Realtor since 2005. Addicted to REOs, BPOs, and working to expand.

LIMITATIONS: Until You Spread Your Wings, You'll Have No Idea How Far You Can Walk. - despair.com

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#243548 - 08/09/08 11:32 PM Re: Properties that are withdrawn from the market. [Re: barb43]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7686
Loc: PA
When we end a contract, it is not withdrawn, it is canceled.

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#243585 - 08/10/08 05:38 AM Re: Properties that are withdrawn from the market. [Re: Perky_REALTOR]
Viktor Offline
Veteran Member

Registered: 09/23/07
Posts: 874
Loc: Dallas, TX
What do you mean off the market, Cancelled, Withdrawn or Temp. off the market?
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William Davis Realty
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http://homesforsaleindfw.com
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Viktor.RealtyBG@gmail.com
http://www.linkedin.com/in/viktortaushanov


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#244462 - 08/14/08 11:09 PM Re: Properties that are withdrawn from the market. [Re: Viktor]
CC Realtor Offline
Member

Registered: 08/06/08
Posts: 19
Loc: USA
I'm asking as a newbie - do other agents frown on you going after their expired listings? is it seen as unseemly? or is it just that some do and some dont?

Thanks!

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#244465 - 08/14/08 11:30 PM Re: Properties that are withdrawn from the market. [Re: CC Realtor]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 6257
Loc: Vermont's North-East Kingdom
Originally Posted By: CC Realtor
do other agents frown on you going after their expired listings?


Of Course; but they are no longer "Their" Listings. They are now Expireds.

If they ran their course and the Owners were not approached to renew the Contract, then they have become "Fair Game". If you do your job, you sell them during the time alloted; or at least try to get them renewed.

Otherwise, it is understood that the Sharks will be in the Water.

And YOU may as well be one of the Sharks, Viciously circling your Prey.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#244473 - 08/15/08 12:53 AM Re: Properties that are withdrawn from the market. [Re: Vermont]
SellMyDigs Offline
Member

Registered: 07/10/08
Posts: 62
Loc: California, United States
Some people put their homes on the market to test the waters. After they see how much they can realistically sell for they might not be as interested.

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#244494 - 08/15/08 01:48 AM Re: Properties that are withdrawn from the market. [Re: SellMyDigs]
CC Realtor Offline
Member

Registered: 08/06/08
Posts: 19
Loc: USA
I'm curious Vermont007 = do you contact expired listings?

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#244498 - 08/15/08 02:01 AM Re: Properties that are withdrawn from the market. [Re: CC Realtor]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 6257
Loc: Vermont's North-East Kingdom
Sure; when I'm doing my Job. I'd rather be doing traditional marketing of properties for nice anxious retail Sellers who I can make eye contact with and who now hate their prior Listing Agent. That's more fun than to have to deal with some ForeClosing Authority from 1500 miles away and who has never been to the area, let alone the Property involved.

But I don't watch the Hotsheet like a Hawk the way I should; and some Eager Beaver will usually have dialed that number before I. Often I can hold my To Be Call List up to the light and it will the Newly (RE) Listed. There's only 168 hours in a work week !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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