When I read Diane Aurit's blog Is Your MLS Lying it got me to thinking, what bothers me even more than incorrect closing date is "days on market".
Here's an example: (I have erased part of the MLS number and agent ID for privacy reasons)
When this property is looked at in search results it show that it was on the market for 25 days, statistical reports will calculate this listing as being on the market for 25 days.
Now when you dig deeper and look up this property's history you see that it was on the market with the first agent for 90 days, it expired, then a second agent listed the property. Into the second agent's listing period is went under contract on the 25th day. Therefore, this property was really on the market for 115 days - not 25. This is a big difference, especially when dealing with Seller's expectations.
This is why when I put together a CMA I look up the history of each listing I'm using in the report; I actually count the days and add them all up. It can make a very big difference.
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