Agent Will

There’s a whole heap of Realtors out there who like to play with the Days on Market (DOM) number.  They will cancel or terminate a listing then turn around and relist it the same or next day.  They do this for a variety of reasons from having an overpriced listing, a stale listing, an unattractive one that is now prettier, or to relist at a lower price.

Realtors also love to be able to say they sold the place “in six days!” (or something like that).

But, really, that number is so easy to fake.  Just cancel or terminate it and relist it.  Bang.  Instant new listing.  Forget that the same realtor had it live for six months or more before.

Well, the Chilliwack and District Real Estate Board is doing something about it.  Forget about the dishonesty, the skewing of stats, the shell game played with the system.  They’re not doing it for that, I bet.  No.  They’re likely doing it to cover all the extra costs the board incurs re-entering the same listing twice.  What are they doing to discourage this practice?  Hitting those cheating realtors in the pocketbook.  From September 1st any realtor or team canceling a listing and then relisting it within 15 days will be charged $50.

It’s not much, but it’s a start.  As DOM extends, my bet is we will be seeing a lot more of this deceitful practice here.  I’d like to see the REBGV implement the same system… but make it more like $500 (yes, five hundred dollars) to really drive home the sliminess of the practice (and, hey, use the proceeds to fund some affodable housing charities at the same time, please).  Besides, you ain’t fooling me, or my buyers.  I look up the history of a property and can see if a realtor has been doing this.

** For those of you confused by the picture, that would be DOM Deluise, famous TV chef an personality from way back.  With a big knife in hand he’s saying “Don’t mess with the DOM!”