MLS Tip of the Week

Weekly Blog by Susan Beck, ECAR MLS Director.
Questions? Call 850-244-2411, or email susan@ecaor.com.

Tip of the Week – New CDOM

by Susan Beck | May 26, 2016

 This is actually an older blog reposted by popular request. Which means we get asked this question so many times that I decided it was time to publish the info again. Enjoy! 

 We’ve been asked this question several times in the past couple of weeks, so I thought it might be time to go over it again. You just got a new agreement for a property that has previously been listed by your company or another company, or maybe even you. How do you get the Days on Market (DOM) and Continual/Cumulative Days on Market (CDOM) to start back at zero?

 The first thing this process needs is time; 90 days’ worth of time. The last listing for the property must be in the Expired, Cancelled, or Withdrawn status for more than 90 days.

 Then re-enter the property as a new listing. DO NOT REACTIVATE THE OLD LISTING! That is the worst thing you can do with it. You can copy the old listing to help create the new listing.

 If you can and choose to use the Full Copy to create the new listing, be sure to change the List Date. If you fail to change the List Date, the DOM for your new listing will calculate the way it’s supposed to, from the List Date to the current date. So you’ll start off your new listing with a high DOM. But that can be easily fixed with help from ECAR staff (with written authorization).

 So there’s two steps to this process:

 Allow the previous listing to be off the market as Expired, Cancelled, or Withdrawn for more than 90 days.

 Re-enter the property as a new listing with a new List Date.

 If you follow both of these processes, you’ll have a new listing with a zero DOM and CDOM count.

 NOTE: The status of the previous listing must stay in one status for the entire 90 day period. If the previous listing is temporarily withdrawn, it will expire when the expiration date comes around. When the listing changes to Expired, the 90 day time period starts over again.

 Questions? Call us at 850-244-2411, or email susan@ecaor.com.

Susan Beck, MLS Director
Emerald Coast Association of Realtors®
Fort Walton Beach, FL

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