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Did the property ever come off market with contract and then back up again?
Sometimes when there is a deal that fails, rather than reactivate the listing, the agent will cancel the first listing (number) and replace it as new rather than reactivated or back on market.
A common tactic employed by some agents (depending upon how the individual MLS tracks such things) even if there was never a contract on the house is to cancel the listing and put the listing back in again with a new number to shed market time and come up as a new listing. And then, as a new listing again.
Another tactic is to do teensy little price reductions so that it comes up as price reduced.
The reason? When a status changes (new price, new listing, back on market) in many auto-search and auto-programmed internet sites, it will email the listing to subscribed clients and/or agents. My guess is that the agent is trying to keep the listing in front of everyone as much as possible.
IMO, the downside to the tactic is when agents do this over and over and over again on all their listings - after awhile, the Cry Wolf syndrome attaches, and it just gets pesty and overworked. "Is that house STILL on the market? Seems like it's been around FOREVER".
Sun Oct 25 2009, 09:36