"Refresh" your old listings and make them new again

By
Real Estate Agent with RE/MAX Shoreline New Hampshire & Maine

I need some help with this concept please.

Apparently in some parts of the country I've been told, it's a common practice to "refresh" an old listing by either withdrawing it from sale or letting it expire and then re-list it, for the sole purpose of getting a new MLS numbers assigned to that listing and to start the "days on market" counter over again from "0".

Personally I find that practice inherently dishonest to deliberately distort your MLS statistics in that way for whatever reason you may have.

One licensee even went so far as to say that if your MLS allowed this practice and it served your seller YOU would be the one in the wrong if you did not do it.

I know in our MLS it's pretty simple to do a "property history" search and not only find out the true days on the market but also any price reductions and when they occurred.

I sure hope my local supermarket doesn't start "refreshing" their packages of chicken breasts when they expire and put them in a new package with a new expiration date.

Posted by

Jim Lee , REALTOR®, Certified Residential Specialist (CRS)

http://JimLee.com  RE/MAX Shoreline

100 Market St., Suite #200, , Portsmouth, NH 03801 Phone: (603) 431-1111 x3801

Visit New Hampshire Maine Real Estate.com to search homes, get Seacoast area information, and find out how great living on the New Hampshire and southern Maine Seacoast really is.

 

Follow RealtorJimLee on Twitter

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
cheating
refreshing
distorting mls stats
fudging

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
139,950
Jay McGillicuddy
Berkshire Hathaway HomeServices Verani Realty - Exeter, NH
Real Estate Broker
Hi Jim, our MLS has a rule that you can not re-submit an expired listing unless it has expired for at least 30 days. If before that it would go back in as the same MLS number. A lot of agents have abused this and there is a hefty fine if caught. By doing it it does skew the MLS Stats of days on market. 
Feb 10, 2007 10:12 AM #1
Ambassador
2,743,836
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Our system farily well guards against this deception practice.  Some agents do manage to get by the rules by getting an agent friend to re-enter.  But, it's fairly rare around here.  You can usually tell these lisitng when the remarks instruct "direct all communication about this listing to ______", etc. 

List Date:  22-Jun-2006Orig List Price:  $530,000Update Type:  STATUS
VRP:  NoPrior List Price:  $509,900Update Date:  04-Jan-2007
Low Price:  $499,900DOM-MLS:  230DOM-Prop:  360

We know from the above that the house was originally listed 360 days about and relisted 230 days ago and that the price has been reduced from $530K to $509K to the present $499,900.

Works pretty well.

 

 

 

Feb 10, 2007 10:33 AM #2
Rainer
71,971
Elaine Reese, REALTOR® in central Ohio
Real Living HER, Powell Ohio - Powell, OH

Our rules are the same as Jay's. Some agents try to circumvent the archives showing by manipulating the address. For example: 123 Main St becomes 123 Main Stt. There's a fine for that if reported.

The MLS committee is considering having it run off the parcel number. Isn't it amazing how much effort people (the techies) have to spend tightening up the controls!

Feb 10, 2007 12:26 PM #3
Rainer
91,456
Eileen Landau
BAIRD & WARNER, NAPERVILLE - Naperville, IL
ABR, CRS, e-PRO

Our MLS has a great system...it tracks the listing by the address!

And, now we're using a different numbering system. We started 2006 with a #06 number...and we're still using #06 numbers. Now...it's #064xxxxxx.

I can get the total days on market and the property history very easily. So, the abuses of the past are over.

And, we have lots of properties with over 200 days on market.

Feb 10, 2007 01:52 PM #4
Rainmaker
643,145
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro
That has been a common practice here in Houston so our MLS also started to fine if an agent gets caught.  The fine is not extremely hefty though so it doesn't totally stop the practice.
Feb 10, 2007 01:53 PM #5
Rainmaker
380,428
Don Fabrizio-Garcia
Fab Real Estate - Danbury, CT
Owner/Broker/Trainer - Fab Real Estate
I've seen the same thing as Elaine - 123 Main Street re-entered as a new listing as 123 Main St., which creates two separate history records, so you're unable to quickly determine the property's history.  You have to do a different search by parcel number.  But, you learn which agents do this and which agents' listings you should check deeper into.
Feb 11, 2007 02:41 AM #6
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
600,292

Jim Lee

Portsmouth NH Realtor, Portsmouth, NH
How can I help?
*
*
*
*
Spam prevention

Additional Information