Comments on: 32. MLS Re-Listing Creates a New DOM http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/ Wed, 3 Dec 2008 02:29:54 +0000 http://wordpress.org/?v=2.3 By: Jeff http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14479 Jeff Tue, 26 Sep 2006 02:16:46 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14479 The way we handle it in Chicago is to take away the incentive to re-list. We have a field called “Market Time” which is cumulative across listing records. We also have “Days on Market” which is isolated to the specific listing. Change the incentive and the behavior changes. Take a look at my aricle to see what happened in Chicago when “Market Time” was removed… http://www.chitownliving.com/blog/2006/08/16/mlsni-market-time-removed-oops-returns/ Interesting to note that “Market Time” has been added back as a result of agent’s actions. The way we handle it in Chicago is to take away the incentive to re-list. We have a field called “Market Time” which is cumulative across listing records.

We also have “Days on Market” which is isolated to the specific listing. Change the incentive and the behavior changes.

Take a look at my aricle to see what happened in Chicago when “Market Time” was removed…

http://www.chitownliving.com/blog/2006/08/16/mlsni-market-time-removed-oops-returns/

Interesting to note that “Market Time” has been added back as a result of agent’s actions.

]]> By: Greg http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14194 Greg Sat, 23 Sep 2006 16:51:18 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14194 In northern Utah agents do this not only for the DOM benefit, but we have what's called a "Hot Sheet" where the new listings get emailed to brokers looking in that price range, etc. So then by re-listing a home it gets sent out that next morning to those hot sheets... In northern Utah agents do this not only for the DOM benefit, but we have what’s called a “Hot Sheet” where the new listings get emailed to brokers looking in that price range, etc.

So then by re-listing a home it gets sent out that next morning to those hot sheets…

]]> By: sellsius° http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14125 sellsius° Sat, 23 Sep 2006 03:57:41 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14125 DOM is definitely a stigma. There are many reasons a house can be on the market which has nothing to do with the pricing. If the house is cluttered, it's a turn off. Some sellers don't understand the effect of poor presentation. DOM is definitely a stigma. There are many reasons a house can be on the market which has nothing to do with the pricing. If the house is cluttered, it’s a turn off. Some sellers don’t understand the effect of poor presentation.

]]> By: Cathleen Collins http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14101 Cathleen Collins Fri, 22 Sep 2006 23:45:36 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14101 In the greater Phoenix MLS, a house that's been constantly marketed, even by different brokers, continues to accumulate DOM. To start back at zero, the house has to be pulled completely off the market for at least 90 days. When I'm representing the seller I don't like this rule because it creates a stigma that gets in the way of my client's goals. And when I represent the buyer it's an unnecessary rule, because I review the <i>house's history</i>, not just the MLS # archives with my buyers. History garnered from the entire MLS <i>and</i> county tax records give them the knowledge necessary for well thought out negotiating. So my opinion? The DOM of rules our local MLS unnecessarily harm the area's customers who are supposed to be served, and don't help anyone. I think NJ's system is better for the public. In the greater Phoenix MLS, a house that’s been constantly marketed, even by different brokers, continues to accumulate DOM. To start back at zero, the house has to be pulled completely off the market for at least 90 days. When I’m representing the seller I don’t like this rule because it creates a stigma that gets in the way of my client’s goals. And when I represent the buyer it’s an unnecessary rule, because I review the house’s history, not just the MLS # archives with my buyers. History garnered from the entire MLS and county tax records give them the knowledge necessary for well thought out negotiating. So my opinion? The DOM of rules our local MLS unnecessarily harm the area’s customers who are supposed to be served, and don’t help anyone. I think NJ’s system is better for the public.

]]> By: Real Central VA - Tracking the Charlottesville and Central VA real estate market and more » What is the MLS http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14078 Real Central VA - Tracking the Charlottesville and Central VA real estate market and more » What is the MLS Fri, 22 Sep 2006 19:37:06 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/32-mls-re-listing-creates-a-new-dom/2006/09/22/#comment-14078 [...] Note: as this post sat in the “scheduled postings” area of Wordpress, jf.sellsius posted this excellent post as part of his 50-posts-in-a-day. [...] […] Note: as this post sat in the “scheduled postings” area of Wordpress, jf.sellsius posted this excellent post as part of his 50-posts-in-a-day. […]

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