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Old 01-30-2009, 10:12 AM
 
54 posts, read 405,541 times
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Is this TRUE or FALSE?

Here's my situation: My listing contract with my agent is almost up. My house has been on the market for 10 months. I thought maybe if I would take the house of the market for a couple of weeks, then re-list, it would show as a 'new' listing. As it stands now, people can see that it's been on the market 300+ days, and probably think there is something wrong with it.

My agent says, you cannot take the house of the market for a couple of weeks, it has to be a minimum of 60 (or maybe he said 90?) days!!! Is this TRUE??
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Old 01-30-2009, 10:16 AM
 
Location: Martinsville, NJ
6,159 posts, read 10,893,123 times
Reputation: 3939
Quote:
Originally Posted by joeman View Post
Is this TRUE or FALSE?

Here's my situation: My listing contract with my agent is almost up. My house has been on the market for 10 months. I thought maybe if I would take the house of the market for a couple of weeks, then re-list, it would show as a 'new' listing. As it stands now, people can see that it's been on the market 300+ days, and probably think there is something wrong with it.

My agent says, you cannot take the house of the market for a couple of weeks, it has to be a minimum of 60 (or maybe he said 90?) days!!! Is this TRUE??
Well, you can take it off the market for as long as you want. The question is, what effect will that have.
In some MLS systems, if you relist it within 30, or 60, and in some cases 90 days, the previous time on market gets added to the total days on market. So it will show up as a NEW listing, but anyone who looks can see, often right on the main listing info page, how long it's REALLY been for sale.

Last edited by Bill Keegan; 01-30-2009 at 10:57 AM.. Reason: typo
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Old 01-30-2009, 10:53 AM
 
Location: Boise, ID
8,011 posts, read 22,505,069 times
Reputation: 9213
Yeah, its possible. It totally depends on the MLS. Ours is only 30 days off market for total days to reset. Yours could be 60 or even 90.
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Old 01-30-2009, 11:11 AM
 
16,700 posts, read 18,913,643 times
Reputation: 6797
Personally, I would make it a whole year to protect the buyers...
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Old 01-30-2009, 11:14 AM
 
Location: Nashville, TN
1,177 posts, read 3,653,796 times
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Any competent Realtor representing a buyer is going to know whether or not the house has been relisted, how many times, and the total number of days on the market. If your primary reason for taking it off the MLS for a while so that the DOM will not be so high then I think you would be wasting your time and possibly lose a sale opportunity. Now if you are going to upgrade something that might make the house more attractive to sell(i.e., updated kitchen, new carpet, new paint) then taking it off the MLS and relisting it with the new upgrades would make sense.
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Old 01-30-2009, 11:20 AM
 
1,340 posts, read 3,232,189 times
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Quote:
Originally Posted by gbone View Post
Any competent Realtor representing a buyer is going to know whether or not the house has been relisted, how many times, and the total number of days on the market. If your primary reason for taking it off the MLS for a while so that the DOM will not be so high then I think you would be wasting your time and possibly lose a sale opportunity. Now if you are going to upgrade something that might make the house more attractive to sell(i.e., updated kitchen, new carpet, new paint) then taking it off the MLS and relisting it with the new upgrades would make sense.
Agreed. A realtor should be able to QUICKLY find any previous listing information so resetting your DOM does very little.

Side note: Nothing annoyings me more is when listings drop their price $100 then a week later increase their price $100 to get their listings to show up on the update sheets. Just annoys me.
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Old 01-30-2009, 11:54 AM
 
Location: Nashville, TN
1,177 posts, read 3,653,796 times
Reputation: 936
Quote:
Originally Posted by shula View Post
You could ask your agent to keep it listed, but to remove it from the MLS. We have Real Estate companies here that will not be a member of any MLS, and for good reason. If your listing company has their own website, and if you have a local newspaper, he can continue to market your house, but focus the marketing directly to the potential buyers and not so much to other real estate agents on the local MLS.
I would strongly advise against this. Although not all buyers use a real estate agent, most of them do. By taking the listing off of the MLS you are basically reducing your potential buyer pool substantially. The MLS is still the number one Internet portal for people to find out about houses on the market. Additionally, many other sites(i.e., Realtor.com, Trula, etc.) pull their listing from the MLS so you would also be deleted from these.
I am curious as to what is the "good reason" why real estate companies would not be a member of the MLS, especially if they are involved in residential sales. That sounds like a fast track way to go out of business to me.
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Old 01-30-2009, 12:02 PM
 
25,341 posts, read 37,471,570 times
Reputation: 13261
Quote:
Originally Posted by joeman View Post
Is this TRUE or FALSE?

Here's my situation: My listing contract with my agent is almost up. My house has been on the market for 10 months. I thought maybe if I would take the house of the market for a couple of weeks, then re-list, it would show as a 'new' listing. As it stands now, people can see that it's been on the market 300+ days, and probably think there is something wrong with it.

My agent says, you cannot take the house of the market for a couple of weeks, it has to be a minimum of 60 (or maybe he said 90?) days!!! Is this TRUE??
It used to be that if you took your house of the MLS for a couple of days, than the clock would reset to zero...if it still is, I don't know...but for the average home searcher...we all know that this happened and as a buyer I don't fall for the trick and on the internet you can find houses from back in the day with even the higher listing prices...
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Old 01-30-2009, 03:24 PM
 
Location: Philly
165 posts, read 752,514 times
Reputation: 83
You really can't fool buyers with this tactic. Unless you want to drop the price by at least 5%, make upgrades or offer other incentives, there is no reason to pull from the market for a couple of days.
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Old 01-30-2009, 11:50 PM
 
38 posts, read 145,313 times
Reputation: 15
I don't know if this is true for all potential buyers but I'm not even factoring in stuff like when I see the house has been on the market a long time. Normally, that'd be a little red flag for me (not huge, just a little, "Hm, wonder why it hasn't sold yet...") but these days, w/ the market the way it is, I am not worried at all if I see a house hasn't sold yet.
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