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What Does Temporarily Off The Market Mean?




If you've home hunted, you've probably heard or seen a home go temporarily off the market. With any stroke of bad luck, it would be the one you were just dyyyyying to see. So, with that, is hope lost? Not at all. Let's explain.


Temporarily off the market means something came up with the home or the sellers, and it forced the house to not be shown anymore. A family member took ill, a new baby was born, job transfer or a malfunction with the home itself that needs to be repaired. Whatever the reason, the home is not being shown by the sellers. Not being shown is key here, and what defines a home from active to TOM. If your house is in the MLS as active, it must be shown. Meaning, you can't deny showings for lengths of time, if you do, as a courtesy to other busy agents, you take the house off the market.


What can also differentiate a home being TOM from withdrawn, expired, or cancelled is it often also indicates the relationship between the listing agent and the seller. TOM homes, when they come back on, invariably come back on with the same agent. Expired means the listing agreements duration of time has come and passed, and the seller did not wish to relist with the agent at least at the time and it may or may not be relisted in the future with that agent. Cancelled means the seller asked to be released from the listing agreements time length and it may or may not have gone smoothly. These are good to know if and when you are hunting a home that comes up as one of those, as it may give you a frame of reference of where the sellers mind is.


Thats all for this week,


Chris


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