Taunya Fagan Bozeman Real Estate Blog: SW Montana Information & Listings: How Long Should a Property Remain off the MLS Before it's Allowed Back on at Zero?

How Long Should a Property Remain off the MLS Before it's Allowed Back on at Zero?

"Metropolitan Regional Information Systems, which manages a database for 60,000 real estate professionals in the Washington area and parts of West Virginia and Pennsylvania, is changing an element of its ‘days on market' listing for homes. It involves decreasing from 180 to 90 the number of days a property is required to be off the market before MRIS resets that number to zero when it gets back on an active listing for ‘days on market." In short, it makes it look like homes that have been lagging on the market for several months haven't been out there that long, said Stephen Israel, president of Buyer's Edge, a Bethesda real estate firm that only represents homebuyers, not sellers."  (Thursday, February 14, 2008 Home listing change irks some real estate agents Washington Business Journal - by Joe Coombs Senior Staff Reporter)

Here in the Gallatin Valley of Montana, like in the Philadelphia, PA area, homes may be relisted be a real estate agent as soon as 30-days have elapsed. Sellers in Minneapolis, MN must wait 365 days!

  1. What is the time frame in your market?
  2. What would a good figure be for the United States as a whole?
  3. Should there be a national figure?

 

 

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Comment balloon 2 commentsTaunya Fagan • February 15 2008 01:42PM

Comments

wow...180 days (much less 90 days) seems extraordinarily long.   I guess one thing that needs to be factored in is the average days on market before a property gets sold in your local area.    If most homes in your area take several months to sell then I might be able to understand the 90 days issue however settting the bar at 180 days seems pretty unfair.
Posted by Renee Adelmann (Marin Modern Real Estate ) about 10 years ago
Interesting consideration the days on the market.  For the buyer I would like that information.  But don't you think its irrelavant considering that, I as an agent for the buyer will look at the archives and see if that property had ever been listed before and how long each time?  I find it neccesary to use this statistic during negotiations. As for my sellers.  I would love for them to feel they can relist with a clean slate.  But will it be with a truly clean slate?
Posted by Jeff Rogers (retired) about 10 years ago

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