William, Home Buyer in Daly City, CA

Do most listing get posted on Thursday/Friday?

Asked by William, Daly City, CA Thu Mar 29, 2012

I been checking for new listing, there were like nothing from Sunday-Wednesday. But Thursday and Bam a bunch of new listings. Is this a random event or pretty much the norm? I haven't been checking listing daily till recently.

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Answers

8
Yes, most listings do get posted on TH & Fri. It has to do with DOM (days on market). Agents want to bring the property on just in time to make the weekend open houses while accumulating the least number of on-market days. Also, the broker's tour deadline is Fri @ noon in SF.

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Web Reference: http://www.oggikashi.com/
1 vote Thank Flag Link Thu Mar 29, 2012
Ah, you noticed! Our new listings in San Francisco have to get into the MLS by Friday noon to make the deadlines for the SF Examiner Open House Section and the Broker's Tuesday Tour for the following week. I tell all my clients to expect most new listings to come on in that Thursday/Friday window. It saves a lot of them the frustration and exasperation that comes from checking the MLS every other day of the week and coming up dry. . .
1 vote Thank Flag Link Thu Mar 29, 2012
Yes - good catch! The local broker tour is on Tuesday, and for agents to submit listings to be included in the tour, they have to input their new listings by noon on Friday. Many agents prefer to keep their listings as 'fresh' as possible (low days on market), so they wait until the end of the week to post them.

Check the MLS tomorrow at noon, and you'll see a fairly dramatic increase in the number of listings posted.
1 vote Thank Flag Link Thu Mar 29, 2012
Hi William,

You've received some great answers here from local agents. I just wanted to fill you in regarding Trulia's process. We run a data cycle nightly that processes all new listing information that we receive in the 24 hours prior and publish that new data each morning, so any patterns you notice won't be the result of our data processing.

Let us know if you have any other questions.

Emily
0 votes Thank Flag Link Mon Apr 2, 2012
Hi William,
You are a quick study. The "driver" behind many properties coming to market on a Wed or Thurs is that in SF, by 11:30am Friday, we must be on the MLS in order to be included in the Tues "Agent Tour" sheet. The tour sheet comes out Friday at 12 noon, telling all Agents what properties are new to market... and what time the new and older properties will be open during the Tuesday tour.

As an aside, our tour sheets have been consistently just 16-19 pages for all 10 Districts in SF since the beginning of 2012! By now, our tour sheets should easily be 36+ pages. What that translates into is there is very little inventory coming on the market this Spring. All agents and buyers keep waiting for the onslaught of inventory... but so far, it is very minimal... which is why we are continuously seeing a multiple offer environment for well located and priced properties. Take for instance 535 Elizabeth- a lovely condo close to 24th St in Noe Valley- priced at $1,195K. It received 17 offers! In due time we will see how much over the asking price it went.

Susan Mortenson, McGuire Real Estate, 2001 Lombard St, SF, CA 94123
415-351-4675
0 votes Thank Flag Link Thu Mar 29, 2012
Marketing and announcing new listings on Thursdays and Fridays is definitely a trend, for all of the reasons laid out below. If you haven't noticed, the San Francisco real estate market has been moving very quickly - properties that are in good locations and priced appropriately are often going into contract only days after hitting the market. If you are really ready to buy, your best advantage is to work with a Realtor who might know about upcoming listings before the "pre-weekend" public listing of properties, to get you in before the Sunday open houses so you can make a quick move. You can also sign up for a better notification system than Trulia, called Clean Offer- this gives you real time updates on new listings, price reductions, homes already in contract, which a lot of other sites aren't able to do because they are not tied to the MLS. If you'd like me to sign you up for Clean Offer, or help you navigate buying a home, I'd love to help.

Amy Blakeley
Realtor, McGuire Real Estate
ablakeley@mcguire.com
0 votes Thank Flag Link Thu Mar 29, 2012
Listings come in everyday... The best thing you can do is set yourself up on Trulia, Zillow or Redfin to be notified as homes that match your criteria get listed. All three sites do an excellent job.

Jack McLaughlin
jack@mybrokerdonates.com
0 votes Thank Flag Link Thu Mar 29, 2012
Most listings come on Thursday and Friday because open house listings for the weekend are due Friday at noon, which is also the same time information for broker tour for the following Tuesday - the day that is tantamount of the speed dating of open houses - is due too.
0 votes Thank Flag Link Thu Mar 29, 2012
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