Investors United School of Real Estate Investing
Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
REO Prep Foreclosure Listings



Make them buy now



Point2 biggest sale of the year is on!



How To Advertise Here

Sponsors
More Good Ideas!
Get Listed In The Realtor Directory

Internet Marketing Tips for Realtors




Build your brand on a Real Estate Site


Facebook
Sponsors
Topic Options
Rate This Topic
#130641 - 03/25/07 10:10 PM Properties that are withdrawn from the market.
Cool guy Offline
Major Contributor

Registered: 06/30/04
Posts: 2156
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)

Top
#130645 - 03/25/07 10:34 PM Re: Properties that are withdrawn from the market.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: 92
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From what I've seen a lot of agents go after the withdrawn and expired homes.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?

Top
#243518 - 08/09/08 05:27 PM Re: Properties that are withdrawn from the market.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.
_________________________
Minneapolis MLS Minnesota MLS Listings - Find MN MLS home listings in Minneapolis, St Paul, MN
MLS Minnesota - Single family home, condos, townhomes in Twin Cities, MN

Top
#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.

Top
#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: 6188
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"

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#243545 - 08/09/08 11:10 PM Re: Properties that are withdrawn from the market.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

Registered: 08/01/08
Posts: 1017
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

Top
#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.

Top
#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?
_________________________
Viktor Taushanov
William Davis Realty
Dallas, TX
http://homesforsaleindfw.com
http://northdallas.blogspot.com
Viktor.RealtyBG@gmail.com
http://www.linkedin.com/in/viktortaushanov


I love referrals!

Top
#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!

Top
#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: 6188
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"

Top
#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.

Top
#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?

Top
#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: 6188
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"

Top






Moderator:  RaquelMangual 
Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!


build your brand and help your SEO for Realtors




How To Advertise Here

Sponsors

Newest Members
Antonio Colemam, REW Aaron, ecivic, Brcg2, FHAMan
25845 Registered Users
Who's Online
7 registered (agentjunior, CMW, BR549, Muniart, Papa Goofy, 2 invisible), 129 Guests and 2 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
David Hunter 43
Eric G. 32
Vermont 25
Cyrille 22
75Corvette 20
gitmonee 20
Bigtoe 19
12 step 4 BPOs? 18
OttawaRealEstate 18
lucky 14
BrianMI 13
Tex 12
TriangleNCBroker 11
reolady123 10
smg 10
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 10197128
No new orders today 9805051
Stupid MLS comments. 1990782
What do you know about Froy Candelario, top agent in USA 657575
Stupid QC comments and BPO requirements. 623159
New HUD Listing Brokers---Any Update? 595721
Is there religious content in Buffini class? 471884
EML 459213
Pay it Forward - BPO/REO Tips & Tricks I & II 375995
Let's talk about our cars 370830
Most common items found at an REO 305139
Evalonline 300062
Land America 285038
REOTRANS 262459
Mainstreet 261840
asset val seminar in colorado 241228
Name that Flick. Great movie Lines. 238716
FARVV 177358
HOMONYMS - There, Their, and They're 156212
USRES / RES.NET 147770
Featured Member
Registered: 04/12/08
Posts: 6188

How To Advertise Here


This site presented by RNC Internet Services