Comments on: MLS Listing Chains

By: Concerned agent

Concerned agent — Sat, 07 Apr 2007 04:27:22 +0000

Case and point.

By: Roberta Murphy

Roberta Murphy — Fri, 06 Apr 2007 19:26:24 +0000

Perhaps Sandicor and NSDCAR could adjust reporting procedures to show actual market time for a property’s most recent price reduction. So often, clients wonder how long ago the reduction took place–and so do I.

By openly revealing this listing price history information, aggressive home sellers would be rewarded–and buyers and their agents would have a better feel for an offer strategy.

And as for accurate real estate statistics, we gotta remember Disraeli’s three kinds of lies: Lies, damned lies and…statistics.

By: Concerned agent

Concerned agent — Fri, 06 Apr 2007 18:08:32 +0000

Roberta, the days on market stat is useless as it the list price to sales price ratio. I have specifically asked Sandicor and NCSDCAR to take action on this because we need reliable stats to work with. Furthermore, the days on market and list to sales price ratios are used for MLS statistics, and the HOMEDEX report. As marketing time increases and values decrease, the data becomes so warped as to not be usable. Basically, CMAs are worthless because they understate marketing times by up to 225% depending on the area. The original list price to final sales price when prior list periods are factored in are as much as 5-8% off. That is substantial for list to sales price ratio.

I never believe it is appropriate to refresh the listing period. I do, however, believe the price change history should be available to MLS agents and subscribers. I am seriously beginning to wonder if the failure to enforce agents who inappropriate refresh listings and the MLS’s failure to properly track and report the data is intentional.

But why would the MLS want to understate market times and list price to sales prices ratios?

By: Gena Riede

Gena Riede — Mon, 12 Mar 2007 16:30:02 +0000

Roberta,
Wow. I didn’t know that your MLS system did not show the history. Here in the Sacramento, Placer, El Dorado and Yolo areas anytime you bring up an address it will show you how many different Realtors have listed the house and there is a “history” link on each listing that shows the dates of each time the listing was reduced and how many DOM the house was listed at each price. Perhaps, your MLS should be contacted since this is vital information for those of us that actual list and sell.

By: Roberta Murphy

Roberta Murphy — Wed, 07 Mar 2007 03:01:39 +0000

Apella: I would like to see transparency regarding the MLS market time and price reduction history. Currently, the San Diego MLS shows only the original list price (OLP), the current price and days on market (DOM). As a result, motivated and market-responsive sellers are being penalized. I would like to see how long a listing has been on the market at its current price. That should be reflected in the Days on Market stat.

By: Apella

Apella — Tue, 06 Mar 2007 00:44:46 +0000

Thanks for putting some light on this not so wanted to be talked about subject – at least in SE Michigan – As appraisers we search for property under the property tax id or parcel number because very few of the Days On Market are actual per that listing. Needless to say it makes our job a little harder and puts us at some risk, so we now have default comments to cover us with this problem. What I wonder is if muti listings actually hurt the listing in the long run because of market exposure. Any real estate sales broker or agent in the market will know if it is common in their MLS to relist properties to show a lower DOM.