Often around this time of year, a seller considers taking their property off the market and bringing it back during the spring. This brings up 2 options in most MLS’s. Do you want to cancel the listing entirely or just take it temporarily off the market. A few pros and cons to consider.
Temp Off market – The listing stays in the MLS but doesn’t show up under an active search. When you bring the property back to market, the MLS # will stay the same and the days on market will not reset. Congress Realty does not charge a fee for this service.
Cancelled – We are literally cancelling the listing entirely. The listing will show cancelled in the MLS. To bring the listing back in the future under a new MLS # and new listing, there is a fee for doing so. The positive of this status is that the Days on Market will reset to 0. (assuming the listing is off the market for the proper amount of time. This amount of time varies by MLS. For example, in ARMLS, it is 90 days. In some markets like Vegas, it is just 1 day)