MLS: why is a property no longer on the market still listed on MLS?
#1
Posted 07 September 2012 - 07:02 AM
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#2
Posted 07 September 2012 - 07:16 AM
A house down the road from me was taken off the market more than a month ago but the listing remains on MLS. Why would that be?
I vote for Realtor® incompetence!
#3
Posted 07 September 2012 - 07:19 AM
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#4
Posted 07 September 2012 - 08:26 AM
A house down the road from me was taken off the market more than a month ago but the listing remains on MLS. Why would that be?
Hi Mike, I find it hard to believe the property has been taken off the market and it is still on MLS® a month later. When a REALTOR® logs into their database on the home page they immediately see a section called "My On Market Listings," making it virtually impossible to forget to cancel a MLS listing.
For example, I currently have 18 listings. If I cancelled a listing I would hope the next day it would show 17 listings, if it didn't, I would be calling the VREB.
PS. How do you know it was taken off the market?
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#5
Posted 07 September 2012 - 09:04 AM
Signs were removed on the 13th of August and a conversation with tenants in one of the suites confirmed that the property was no longer for sale. It sat on the market for quite a while and the price was reduced at some point. This is why I'm confused about the property, is it or is it not for sale? It sure looks that way according to MLS but down on the ground it's a different story.
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#6
Posted 07 September 2012 - 09:06 AM
The property in question is this one.
And I need to clarify that the house was taken off the market exactly 25 days ago, not over a month ago as I had previously estimated.
Signs were removed on the 13th of August and a conversation with tenants in one of the suites confirmed that the property was no longer for sale.
Well, just because signs were taken down doesn't mean it's not still for sale. Only the owner can answer that. Maybe he doesn't want to bug his tenants, but yes, it's still for sale with limited viewing etc.
#7
Posted 07 September 2012 - 09:13 AM
That being said it must be a bit awkward knowing your property remains for sale while other nearby properties sell within a month (one very similar home several houses down with water views sold within two weeks).
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#8
Posted 07 September 2012 - 11:38 AM
#9
Posted 07 September 2012 - 05:24 PM
#10
Posted 08 September 2012 - 06:21 AM
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#11
Posted 08 September 2012 - 07:37 AM
So let's reword the questions then. Why would a realtor/owner remove the signage from the property but keep the home listed? Is this a pride issue or is this some type of tactic that involves placing new signage a few months after the originals were taken down? Marko?
It would probably be done at the owner's request. Some owners like their privacy and don't want neighbours asking questions. Given this is a rental property maybe they are still renting units and don't want renters being put off by the for sale sign? Who knows.
I don't think it is a tactic by a REALTOR®, it is good to always have a sign up.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#12
Posted 08 September 2012 - 07:50 AM
Given this is a rental property maybe they are still renting units and don't want renters being put off by the for sale sign? Who knows.
Units are indeed still rented. The sign was up for many months, including a change to alert people to a drop in price, and then one day removed.
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#13
Posted 08 September 2012 - 07:51 AM
-City of Victoria website, 2009
#14
Posted 08 September 2012 - 07:57 AM
^In other news--wow, look how irrelevant print ads (Real Estate Victoria; classifieds) have become. REV used to be the go-to guide for finding a home.
Yes, but I also think that since this was a Realtor® created survey, they overestimate the strength of their own search engine, and their own work (#1 and #2). I think mls.ca was probably underrated here.
#15
Posted 08 September 2012 - 05:25 PM
Yes, but I also think that since this was a Realtor® created survey, they overestimate the strength of their own search engine, and their own work (#1 and #2). I think mls.ca was probably underrated here.
I agree with you that REALTORS® will typically overestimate the strength of MLS® and their role in selling the property; however, I don't think realtor.ca is underrated. I work with a lot of buyers and the first thing I do is set them up on a private client services account. Rarely does an individual call me and say, "hey I found a great property on realtor.ca” Most of the time they find it in the private client service account. The reason most serious buyers don't like realtor.ca is because it provides very limited information on a property.
As far as print advertising, the Rev gets thinner every month. Online marketing is far superior in this day and age. Some of my favourites include buying a premium ad on usedvictoria.com ($33 for 5 days), etc.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#16
Posted 11 October 2012 - 02:16 PM
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#17
Posted 11 October 2012 - 03:58 PM
The listing expired after 106 days on market.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#18
Posted 11 October 2012 - 06:26 PM
The strangeness continues, I suppose.
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#19
Posted 11 October 2012 - 07:47 PM
First Listing - 116 DOM.
Second Listing - 106 DOM.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#20
Posted 11 October 2012 - 08:16 PM
Now when you say "expire," what does that mean exactly?
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