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