| With the current housing market making it much more | | | | obscuring how long it has been for sale;o Realtors, |
| difficult for owners to sell their property, some realtors | | | | who also zero out the property ID and tweak the |
| have been creatively resetting the "days on market" | | | | address a bit, ensure that the database cannot track |
| meter for their clients on their local multiple listing | | | | the home as a relisted property;o Even if the days on |
| service (MLS). Though many have done so out of | | | | market continue to track, many multiple listing services |
| good intentions, perhaps not realizing that this is a | | | | put newly listed (including relisted) properties on their |
| violation of many multiple listing services, buyers should | | | | "hot sheets", making them appear new;o They can |
| beware and ask their realtor to take steps to ensure | | | | disguise that the previous listing was at a higher price, |
| the home they are interested in is not a relisted | | | | alleviating the perceived sign of seller weakness by |
| property. | | | | buyers and their realtors;o Relisting means a seller may |
| The targeted homes usually have sat on the market | | | | not need to lower their asking price, since new listings |
| for several months, no longer attracting potential | | | | command higher selling prices; ando The realtor is |
| buyers. There are many reasons a home may sit on | | | | ensuring the seller gets another run at competing in the |
| the market too long. Generally, the reason has nothing | | | | market on a level playing field, since new listings get |
| to do with the value of the home to a potential buyer. | | | | higher prices and most of the attention of potential |
| Here are just a few reasons:o There are currently so | | | | buyers. |
| many homes on the market across the nation. The | | | | All of these factors are in the best interest of the |
| competition and falling home prices are making it | | | | seller. Unfortunately, a false sales history puts the |
| difficult to sell homes, regardless of price and value | | | | buyer on an unequal playing field. |
| offered;o Most realtors show clients the new listings | | | | The days on market alerts the buyer and his/her |
| first. That means that a truly good home will not get | | | | realtor to possible problems with the property. Though |
| the same attention as it did when newly listed, making | | | | many reasons for market longevity have nothing to do |
| selling it even more difficult; ando New listings can | | | | with the property, some homes have flaws and issues |
| command higher prices. Once a home has been on | | | | that make them unattractive to potential buyers. It is |
| the market for a while, many buyers and their realtors | | | | easier for realtor's to show newly listed homes than to |
| make lowball offers. Seldom do owners accept these | | | | research homes for problems that have been on the |
| too-low offers, leaving the home on the market even | | | | market for some time. |
| longer. | | | | To protect yourself, ensure your realtor digs a little |
| Some realtors, wishing to help their clients sell their | | | | deeper when researching the newly listed homes. The |
| homes, have come up with ways to manipulate their | | | | agent should investigate the sales history of each |
| multiple listing service's computerized tracking features. | | | | home before showing it to you. A diligent and |
| By pulling the home off the multiple listing service and | | | | experienced realtor will know what to look for and can |
| immediately relisting it, these realtors do several things:o | | | | spot relisted homes. |
| They reset the "days on market" tracking to zero, | | | | |