Today, I called MLS to inform them they made a mistake on one my real estate listings regarding day’s on the market (DOM). I told them I had a property that I took off the market because the owner rented it on a furnished short-term basis for 3 months and I have since put it back on the market. The mistake (at least I thought it was a mistake) was they re-set the days on the market so the listing appears like its a new listing when in fact its not. Apparently, from what the MLS representative told me is if you have a property off the market for 90 days with MLS and put it back on the market on the 91st day the days on the market is re-set back to zero. Huh?
I called LINK, LINK is another multi-listing service used mostly by Boston Realtors. The LINK representative told me that if you have a listing and take it off the market for 60 days and on the 61st day put the same listing back on it resets the DOM back to zero. Are you confused yet? It gets better.
Both MLS and LINK informed me that if “XYZ” real estate company has the property for lets say 110 days and then my company obtains the same listing the days on the market is then reset to zero.
Does this make sense?