A seller can take their house off the MLS (off the market) as long as they are not already under contract with a buyer. They may also have the option to take their house off market temporarily (by putting it in a “hold” status which pauses the listing’s MLS visibility).
Sellers may choose to remove their listing for a variety of reasons:
- If they are having difficulty finding a buyer, they may choose to try again later.
- If they change their mind, have financial issues, uncover significant repairs that need to be made, etc.
- If they have received an offer they like.
It is not uncommon for sellers to remove their listings, but the decision can be difficult. Financially, some agents may charge a fee, especially if they already put in significant work to get multiple offers. Psychology, it may feel like a waste of the time and money spent getting the house ready and listing it.
Although there are off-market buyers, they are not as common as on-market buyers. The benefit is that they don’t usually need a turnkey house, are accustomed to making repairs, and may be able to close on the transaction quickly.
If you are considering selling off-market, feel free to contact us to see how we can work with you!