The Wasatch Front Regional Multiple Listing System Fixes Its Days On Market

    One of the most frustrating things about trying to find a value from the MLS data was that many times the Days On Market didn't truly represent how long the property was on the market.  An agent could "expire" the listing and repost the information, effectively resetting the days on market to 0.  Expiring the listing isn't necessarily a nefarious plan, and this new system will enable agents to expire the listing while keeping the days on market info up to date.  In what must have been a huge feat, the Wasatch Front Regional Multiple Listing System (WFRMLS) has updated all of this information on it's listings.

Here is their explanation of what they have done:

"A new Cumulative Days on Market (CDOM) field will replace the DOM field on MLS listings. The CDOM is added together across different listings for a particular property and it represents the total amount of days a property has been on the market. The CDOM is reset when the property is changed to Sold or has been off market for over 6 months."

      I think this will be a great thing to help everyone from agents to appraisers get better values when using the system.  This will also help buyers and sellers alike to receive better information on what the market is doing.  I applaud the WFRMLS for taking action on this issue.

Links:

WFRMLS Public Site

WFRMLS Agent Site

Bryan Maynes - Realtor

Dwellings Real Estate

801.631.7530 - Phone

maybry@wfrmls.com - Email 

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