what does off market mean?

Does it mean it is no longer available, as in someone put a deposit on it? or just that someone is slightly interested? What is the requirements to take the property "Off Market"
In General Area - Asked by grace n. - Apr 8, 2013
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Answer(s)

Chris R.
Broker/Agent
Denton, TX

Off market can be for many different reasons. Lost the listing. Owner wants to give it a rest. Owner on vacation or out of town. Property undergoing repairs. Owner or agent indisposed. Agent on vacation or ill. Etc. No rwquirements specifically.

Apr 8, 2013
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Michael F.
Owner/Investor
Annapolis, MD

pocket listing or buyer and seller don't want brokers involved so not put out to other brokers
you can bet someone is getting full commission or consulting fee

Apr 9, 2013
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Guy C.
Owner/Investor
Victorville, CA

I was waiting for someone to answer this. Here's my question So if I, as a principal and not a broker, have a property of my own that I am selling, listed here on loop net, but not listed with any broker, is that considered "Off Market" ? I'm trying to understand this "Off Market" thing I see popping up everywhere like it's some kinda real find or something. A marketing ploy?

Apr 10, 2013
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Jabari J.
Broker/Agent
Fairburn, GA

More than likely the home is either under contract, the listing expired, or the seller decided to pull the listing early.

Apr 10, 2013
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MJ F.
Property/Asset Manager
Sherman Oaks, CA

Off-market means that the property is not listed in any professional real estate listings and is unknown to other agents/brokers, etc. It is typically a private listing in which the seller may have one exclusive agent he's using (with instructions not to publicly advertise or promote - but through selective word-of-mouth), or it could simply be a property that the seller had listed previously, but decided to cancel the listing.

Apr 12, 2013
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Yanni R.
Lender/Mortgage Broker
Sherman Oaks, CA

All very good points, but I'm going to have to agree with Jabari. In order to find out why the particular property is off the market, you would need to contact each individual broker/seller.

Nov 8, 2013
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Caren K.
Broker/Agent
Jersey City, NJ

There could be any number of reasons from seller. Off market means that the property was listed in the past, now is not available. Means It is sold or pending for repairing. The best way to observe if a property is available or not ask an agent or check it out through website.

Nov 14, 2013
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Sam K.
Broker/Agent
Phoenix, AZ

Off market assets are those that are not on any public website or any MLS system. This does exclude the assets being posted on a private agent's or Broker's website.

Dec 21, 2013
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