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February 08, 2007
Everything Old Is New Again (Part Two)
Thank goodness: A business ethicist has weighed in on the question of whether it's right or wrong to yank a listing and then put it back in the system as new.
Here's his bio, from an article in Realty Times:
Bob Hunt is a director of the National Association of Realtors, and an author of the business ethics textbook, Ethics at Work, Prentice Hall. A graduate of Princeton with a master's degree from UCLA in philosophy, Hunt has served as a U.S. Marine, Realtor association president in South Orange County, and director of the California Association of Realtors, and is an award-winning Realtor. Contact Bob at firstname.lastname@example.org.
What does Mr. Hunt conclude?
Perhaps the best solution would be simply to keep the information [about days on market] inaccessible to those who view the listings, but to retain it internally for MLS statistical purposes.
In other words, less is more. For further reading, check out my earlier post and some excellent reader comments.
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Perhaps less is more - sounds like the title that should be given to all of these post at BW.
As for Bob Hunt - sounds like his ethics are right up there with Clinton's.
Posted by: john Harper at February 9, 2007 01:33 AM
As a real estate agent, days on market (DOM) matter. I don't automatically judge a property based on DOM. However, if the days seem excessive I want to know the reason. Hiding the DOM is only creating a larger ethics issue.
DOM is a lot more difficult to manipulate if agents are required to enter listings based on Tax Parcel numbers rather then address.
Posted by: Tracy Thompson at February 9, 2007 12:10 PM
Yikes and these are the folks that drill us on ethics?
Sorry, I was born with ethics, you can't teach me that. Grumble! And don't get me going with some Princeton's graduates sense of ethics.
And these cases are very common. So what do you do? Not list because the seller insists on turning his old listing into a new one? No, but relist it and when people ask, say it's a new listing for us, it was on the market before.
At least, that was my last experience.
Posted by: Nick at February 9, 2007 12:47 PM
Regardless of whether it's right or wrong, sometimes it happens. Here's how consumers can protect themselves from relisting.
Posted by: Nigel Swaby at February 9, 2007 01:17 PM