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Investing | Real Estate

What Does TNAS Mean in Real Estate?

The real estate industry has undergone numerous evolutions to accommodate the diverse needs of the housing market. New concepts and multiple abbreviations have popped up, making it hard for people to recognize and understand what each term refers to. For example, what’s MLS, DOM, pre-qual, and now the elusive TNAS?

For the uninitiated, TNAS means “Temporary Not Available to Show.” This means the home is not available for showings but listed for sale for prospective buyers.

The story behind the use of TNAS

There are two benefits of using TNAS. For starters, it’s a clever workaround to the “Days on Market” counter, which can be a red flag for buyers. Secondly, TNAS clarifies that the home is not available for showings. Some sellers are just not in the mood to have strangers visiting their house unannounced.

In their defense, you can’t fault them if they have had dozens of buyers visit their property in a short time.

The only problem with TNAS is that the buyer’s home inspector can’t get a closer look either, which can cause problems when the inspector requests an appointment.

Other instances of when TNAS is used include the following:

  • When the homeowner is not feeling well and is unavailable for showings but wants to sell their property.
  • The homeowner has planned various interior decorative work, such as a new paint job or fixing the plumbing, and showings are on hold until the work is completed.
  • Sellers don’t want prospective buyers to show up in the middle of the night but want to keep their property listing to get as many potential showings as possible for a later date.
  • The seller is entertaining guests and doesn’t wish to be disturbed by buyers.
  • The seller may be traveling and doesn’t prefer to have guests at their property while they’re not around.

Pro tip: You should talk to the listing broker and check for the specific reason for the TNAS. The property may be available again, or it may have been sold, so you’re better of focusing elsewhere.

The buyer’s headache

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One big negative for TNAS listings is that buyers pick a home after much research, only to tell the seller that another buyer has given them an offer. This can be an emotional setback to the buyer if they’ve been deadset on buying the home.

For the most part, changing your listing’s status to “Temporarily Not Available for Show” avoids wasting the broker’s time and frustrating buyers who want to visit a property that is not available at the time.

Taking precautions during a pandemic

Properties can be switched to a TNAS listing so that buyers and sellers can take necessary precautions. The listing makes it easier for sellers to schedule in-person visits more aligned with CDC guidelines. Moreover, there is a growing concern that inspectors, appraisers, and title companies have shorter working hours (even if the market has been traditionally competitive).

For the health and safety of all those involved, TNAS allows parties to voluntarily agree to visit at a later time, especially if a pandemic-related event has made it unfeasible for buyers to drop by.

The strange case of zillow

Some third-party platforms like Zillow often convert TNAS to “off-market,” which is not the case with the property. A single sweeping algorithm on Zillow shouldn’t cloud a prospective buyer’s judgment about whether they should schedule a visit to the seller’s home or not. We recommend buyers reach out to a real estate agent to learn about the actual status of a current listing. Most brokers often have access to a local MLS and are better positioned to guide buyers.

This is particularly useful if the listing doesn’t explain much – a quick call to the listing agent can solve the mystery immediately.

TNAS isn’t the only term that Zillow tends to misinterpret. Properties listed as “Coming Soon” often don’t get displayed on third-party sites like Zillow at all. “Coming Soon” is a catch-all term for advertising a property unavailable for sale. It is gaining traction and is popular for sellers.

How any typical real estate agent used to market properties

Until 2020, it was pretty standard for TNAS listings to be confused with homes actively marketed by brokers before putting them up on the MLS. These listings used to have a variety of terms, including “quiet listings,” “pocket listings,” “pre-MLS,” and “off-market.” The National Association of Realtors has phased out this practice since January 1, 2020.

Summary

In the past, a temporary not available for showing (TNAS) listing would have been used to market properties actively marketed by brokers before putting them up on the MLS. This practice has been phased out since January 1st, 2020, and is now usually reserved for homes where work needs to be completed or when sellers are away from home.

If you’re looking at an off-market property listed as “coming soon,” it may simply mean that it’s advertising a house without any other information provided about its availability. To learn more about how these listings affect buyers’ decision-making process, reach out to your local real estate agent, who can help answer any questions.

FAQs

What is the purpose of a “temporarily not available for show” listing in real estate?

The purpose of a TNAS listing is to make it easier for sellers to schedule in-person visits more aligned with CDC guidelines. Moreover, there is a growing concern that inspectors, appraisers, and title companies have shorter working hours (even if the market has been traditionally competitive). A TNAS listing also helps parties avoid wasting time by meeting at times not conducive or possible for them.

What are the negative aspects of a “temporarily not available for show” listing in real estate?

The negative aspects of a TNAS listing are that buyers have harsher decision time because they cannot request an in-person meeting. Furthermore, the seller won’t get to see who they are dealing with until the listing is made official. For the time being, it’s better to avoid an “off-market” listing if you’re a seller or a buyer.

What happens to agents who previously marketed properties with tnas before january 1, 2020?

Homes listed as “coming soon” were often assumed to have been previously marketed by a broker and kept off the MLS. What happened was that these listings had a variety of terms, including “quiet listings,” “pocket listings,” “pre-MLS,” and “off-market.”

Nowadays, this practice is not possible anymore since January 1, 2020. Homes can still be put off for an indefinite period but must not be inaccurately described as being available for viewing when they are, in fact, not. Conversely, homes can list themselves as off-market but cannot list themselves as available-for-show if they are not.