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Sunday, December 12, 2010

"TNAS" or "PNAS?"

Is Six Months "Temporary"?

I tripped across this Minnetonka home in the course of doing a CMA ("Comparative Market Analysis") for an upcoming listing.

Originally listed on June 28 last Summer, it was switched to "TNAS" ("Temporarily Not Available for Showing") five days later -- and has remained there ever since.

Maybe that should now be "Permanently Not Available for Showing."

What appears to be going on (or not) is that the Seller is an owner-agent, and is relying on the For Sale sign -- on busy Hopkins Crossroad -- to generate drive-by interest (there's no indication on the sign that the home is "temporarily" not available for showing).

While that limits the home's marketing exposure, it also reduces the odds that the owner-agent will have to share any sales commission with a Buyer's agent.

How "Temporary" is Temporary?

Of course, that's not how TNAS is supposed to be used.

Rather, that status is intended for short-term situations like a home repair; family illness, hosting guests, or some other occasion that interferes with showings; or even a Buyer's inspection.

However, the reality is that if no one complains about a listed home being TNAS indefinitely, there's no reportable offense.

Between the lines, you'd infer that there hasn't been a ton of interest in this home.

In fact, the literature box in front is empty, and the current asking price (per a neighbor) apparently is $199,900, not the $225,000 listed on MLS.

P.S.: The most obscure MLS status? That would be "COMP."

Commonly thought to be a truncated "Comparable," it actually stands for "Came on Market Pending."

That can happen when a deal is done privately, but one of the parties is a Realtor, and wants marketing credit on MLS (as does their broker).

1 comment:

Minneapolis Realtor said...

I've seen short sale agents who will leave a listing active after submitting one offer to the bank for approval in order to generate one back up offer. After they receive the back up offer for some reason they will drop the listing into TNAF.