Home Buying in Bradenton>Question Details

Katrina, Home Buyer in New Jersey

How can I find out the real truth about DOM? Many sellers relist multiple times?

Asked by Katrina, New Jersey Sat Sep 22, 2007

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Hi Katrina:

In order to find out about the true DOM, you will have to talk to a Realtor. This is not just trying to get business for Realtors but its because Realtors have the resource to find out. The majority of the Realtors will help you find information for free anyway.

Most of the MLS keep history on a property. So your Realtor will be able to look through all the listings and let you know the status and DOM on a house.

I usually let my clients know about the history on a house, where it been on and off, had contracts on and fell out, had price reduction and for how long, whether it had been with several Realtors so the dates were reset, whether it has been off the market due to holiday or family illness, whether there were upgrades to the house since it came on the market, whether the house came on the market in the deal of winter (slow season) etc. I may have to talk to the listing agent to get some of the story.

The reason I say all these is because you can't really judge how a house is by only looking at DOM, a number. There is a lot of misconception and misuse of the MLS information. Without property clarificacion, the consumer will not be able to get a clear picture of the house and it's status. Ask a professional to put things in perspective helps.

Sylvia
1 vote Thank Flag Link Sat Sep 22, 2007
Sylvia Barry,…, Real Estate Pro in Marin, CA
MVP'08
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Your agent should be able to research the MLS archives to determine when the home initially hit the market. There should be documentation for the cancelled or expired listings for the property within a span of time that would allow you to see if the listing has been terminated and relisted anew. In my area, we now have cumulative days on the market stats that accumulate the total days on the market, regardless of cancellation and relist.
1 vote Thank Flag Link Sat Sep 22, 2007
The MLS has a way of keeping tabs on the listing's history. By doing some research, the DOM can easily be tracked. Does it really matter? I'm just taking the position of devils advocate here; if the property has been on and off the market for 1 day or 700 hundred days... Does that give a buyer or seller any advantage?
0 votes Thank Flag Link Sat Dec 29, 2007
Our local MLS in the Washington DC Metro area - http://www.mris.com - prevents this by tracking the property by tax id #. Therefore if they relist within 6 months the accurate DOM will appear.
0 votes Thank Flag Link Sun Sep 23, 2007
Katrina,

I have access to the Manatee and Sarasota MLS, I would be more than happy to let you know the DOM on a property, please contact me. Thanks


Michele
Web Reference: http://www.mlersch.com
0 votes Thank Flag Link Sun Sep 23, 2007
Katrina - I am so glad that you as a consumer are noticing shady tactics. In this market the DOM is easy to research with the history shown on the MLS (like many said before). The Selling price is another question because seller contributions to do appear on the county records or MLS which can give inflated comparable sales that don't really reflect the truth.
Your best bet is to talk to a local Realtor that knows the are in question. They will usually know inside information of seller contributions and concessions as well as the history of a particular property on the market.
0 votes Thank Flag Link Sat Sep 22, 2007
An agent can pull the history of any listing for you to give you the real days on market time.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Sat Sep 22, 2007
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