Marketing time in declining market

[Punalava]

The question comes, do you state the marketing time of a well priced listing, or do you include the additional marketing time we often see due to being a little too optimistic on the initial listing price?

I always report the total marketing time in the sales grid, and then report any significant price reductions and DOM from final list price to contract date.

 

[residentialguy]

I always report the total marketing time in the sales grid, and then report any significant price reductions and DOM from final list price to contract date.

I was talking about what to report as market time on pg 1.

Btw, the UAD wants the DOM of the last listing on the grid, not the total CDOM of prior listings.

I state the CDOM in the additional comments, though.

 

[SutnNC]

My copy of "the rules" state:

DOM is defined as the total number of continuous days from the date that a property is listed or advertised for sale until the date that is taken off the market or sold.

I'm showing the total dom for any piggy back listings.

Also, I've had some success with placing original list prices at the bottom of the grid to support comments about "above market offers being common and contributing to the higher total dom," etc., etc.....

 

[Riick]

I always report the total marketing time in the sales grid,
and then report any significant price reductions and DOM from final list price to contract date.

I do love the UAD, since every frickin' spot is defined by FNMA
(for their REOS) I can't find any place to put additional information.

So... They will have their highly limited "uniform information",
(( Compare the data on the pre-2005 1004 form with todays UAD 1004 form - much less information IMHO))
but it will not be as much information as I would have willingly given them before.
.

 

[Punalava]

I was talking about what to report as market time on pg 1.

Btw, the UAD wants the DOM of the last listing on the grid, not the total CDOM of prior listings.

I state the CDOM in the additional comments, though.

Marketing times indicated on page 1 are based on average and median DOM, which are the properties' total DOM. The data is not based on DOM after final list price. Is that what you were asking?

I was not aware of the UAD requirement you stated.

 

[Fritz in NY]

I was talking about what to report as market time on pg 1.

Btw, the UAD wants the DOM of the last listing on the grid, not the total CDOM of prior listings.

I state the CDOM in the additional comments, though.

I was just asked to remove DOM and just put in the numbers. Never been asked that before??? What gives? Could have been Allstate Appraisal or Coester, I booked out 4 days now...

 

[residentialguy]

This addresses both issues. We are to report the DOM, not the CDOM. It also is a requirement that you put "MLS#" and "DOM" - you need to tell them "NO CAN DO"

 

[SutnNC]

http://www.youtube.com/watch?v=LagV2jB91kk&feature=watch_response

Duly noted.

 

[Punalava]

This addresses both issues. We are to report the DOM, not the CDOM. It also is a requirement that you put "MLS#" and "DOM" - you need to tell them "NO CAN DO"

I misunderstood your earlier post. Yeah I always report DOM, not CDOM from prior listings. When I stated I report "total marketing times", I meant total marketing times from the most recent listing.

I guess I was aware of the UAD requirement you stated.

 

[residentialguy]

phew! I thought you might have been dippin in the paca lolo woohoo