Comments on: Days on market is irrelevant http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/ Information on the Dothan, AL real estate market and Dothan in general, including Dothan real estate news and homes for sale. From CENTURY 21 Key Realty Thu, 20 Nov 2008 10:18:31 +0000 http://wordpress.org/?v=2.3 By: Days on market redux and the listing agent show http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-936 Days on market redux and the listing agent show Mon, 07 Apr 2008 15:24:37 +0000 http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-936 [...] Jim and I agree on the irrelevance of days on market as a statistic, although for different reasons. Withdrawing and re-listing a property (Jim’s beef) to reset days on market to zero skews the data. I have been guilty of doing this, as have most REALTORS, reasoning that sometimes a listing needs a fresh start. Yes, that is gaming the system and shouldn’t be allowed. However, if you read my earlier post on this subject, I have come to feel that days on market should not be relevant to a buyer anyway, regardless of whether it is accurate or not. [...] […] Jim and I agree on the irrelevance of days on market as a statistic, although for different reasons. Withdrawing and re-listing a property (Jim’s beef) to reset days on market to zero skews the data. I have been guilty of doing this, as have most REALTORS, reasoning that sometimes a listing needs a fresh start. Yes, that is gaming the system and shouldn’t be allowed. However, if you read my earlier post on this subject, I have come to feel that days on market should not be relevant to a buyer anyway, regardless of whether it is accurate or not. […]

]]> By: The Carnival of Real Estate « BlueRoof Blog- BlueRoof360- Real Estate, Realtor Websites http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-801 The Carnival of Real Estate « BlueRoof Blog- BlueRoof360- Real Estate, Realtor Websites Mon, 10 Mar 2008 03:08:55 +0000 http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-801 [...] Charles Woodall of Dotham Home Search?suggests that “Days on Market are Irrelevant” and makes some good points. I have posted on this topic myself and think it’s a good topic of discussion with buyers, especially in areas that are in buyers market’s. [...] […] Charles Woodall of Dotham Home Search?suggests that “Days on Market are Irrelevant” and makes some good points. I have posted on this topic myself and think it’s a good topic of discussion with buyers, especially in areas that are in buyers market’s. […]

]]> By: Charles Woodall http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-791 Charles Woodall Thu, 06 Mar 2008 22:56:58 +0000 http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-791 @Cindy - You are correct that it is up to us as real estate professionals to educate buyers on what, if anything, all these statistics mean. @Tony - Thanks for commenting, and you are spot on about lazy agents. @Cindy - You are correct that it is up to us as real estate professionals to educate buyers on what, if anything, all these statistics mean.

@Tony - Thanks for commenting, and you are spot on about lazy agents.

]]> By: Tony Arko http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-780 Tony Arko Tue, 04 Mar 2008 22:50:14 +0000 http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-780 I have written about and commented about Days on Market many times before and I am very much an advocate for eliminating this "statistic" for several reasons, several of which you have mentioned. A couple of questions to keep in mind when thinking about this subject: Why do we even have Days on Market, no other non-perishable industry does? Why can't we just put the date of listing and leave it at that? Are agents using days on market as a lazy way to determine value because they are too lazy to do their jobs? Are listing agents afraid that their fellow agents are too lazy to do their jobs and therefore feel they need to game the system? Is days on market manipulation just a symptom of a much bigger problem? I have written about and commented about Days on Market many times before and I am very much an advocate for eliminating this “statistic” for several reasons, several of which you have mentioned. A couple of questions to keep in mind when thinking about this subject: Why do we even have Days on Market, no other non-perishable industry does? Why can’t we just put the date of listing and leave it at that? Are agents using days on market as a lazy way to determine value because they are too lazy to do their jobs? Are listing agents afraid that their fellow agents are too lazy to do their jobs and therefore feel they need to game the system? Is days on market manipulation just a symptom of a much bigger problem?

]]> By: Cindy Jones http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-777 Cindy Jones Tue, 04 Mar 2008 13:31:52 +0000 http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-777 Unfortunately for most buyers DOM is a number that they can understand themselves. It is up to us to give them the right interpretation of what that number actually means. Since the average days on the market in our area is 3-4 month it makes no sense for agents to withdraw them every 30 days to make them appear "fresh" and pop up as new in saved searches. I agree it isn't always a "overpriced" house or "unmotivated" seller. In this market sometimes it is just what I call the "is what it is" factor. Unfortunately for most buyers DOM is a number that they can understand themselves. It is up to us to give them the right interpretation of what that number actually means. Since the average days on the market in our area is 3-4 month it makes no sense for agents to withdraw them every 30 days to make them appear “fresh” and pop up as new in saved searches. I agree it isn’t always a “overpriced” house or “unmotivated” seller. In this market sometimes it is just what I call the “is what it is” factor.

]]> By: Days on market is irrelevant | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investments http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-775 Days on market is irrelevant | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investments Mon, 03 Mar 2008 21:22:37 +0000 http://www.dothanhomesearch.com/2008/03/03/days-on-market-is-irrelevant/#comment-775 [...] Days on market is irrelevant, by Charles Woodall. [...] […] Days on market is irrelevant, by Charles Woodall. […]

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