Market Wise Q&A: Playing Around with the good 'ol Days on the Market, (DOM)
Pat Kapowich for the San Jose Mercury News Q: We have been shopping for a home for about two months. In that time, one local house for sale has come on and off the market at least twice. Each time they have carefully reworded the listing to make it seem like a different house. Who are they trying to fool?
A: Themselves. In the old days a Days on the Market, (DOM), count would be re-set making the listing appear new. Even then, most buyers would figure out the unwise tactic immediately, which does not bode well for the seller or the property. Most Multiple Listing Services have counter measures for sellers and their agents who wish to churn a listing as apposed to properly marketing and selling it. Conversely, if a seller is ill or making real improvements to the home then temporarily removing traffic is an acceptable practice.
By Pat Kapowich, SiliconValeyBroker.com owns Kapowich Real Estate in Cupertino. E-mail questions to him at pat@SiliconValleyBroker.com