If you’re shopping for Sequim real estate or Port Angeles real estate, beware of a potential misrepresentation when searching the MLS data, or even getting the assistance of a real estate agent who might be unaware of this trap for the unwary. What is the danger? When agents put a listing into an MLS, the system records the number of days the listing is on the market until it sells. This is called DOM, or days on market. If you see a property on the market for a long time, like 236 days or 344 days, you may logically make an offer than is lower than you would if the house showed a DOM of 7. Big difference from a buyer’s perspective. The danger is that some agents around this great US of A will take the listing out and re-input it, so that the DOM starts all over again. This misrepresents the days on market. Make sense? Be careful out there. It’s a dangerous world. May I say it? Hire a professional who knows what’s going on.
Last Updated on September 20, 2019 by Chuck Marunde