{"id":1032,"date":"2007-02-11T13:18:47","date_gmt":"2007-02-11T20:18:47","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1032"},"modified":"2007-02-11T13:34:29","modified_gmt":"2007-02-11T20:34:29","slug":"dom-trickery","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1032\/dom-trickery\/","title":{"rendered":"DOM Trickery"},"content":{"rendered":"

Recently, there have been discussions about the ethics of agents who attempt to manipulate Days On Market in an attempt to remove stigma from a property. This discussion<\/a> over on Active Rain really got me thinking, and I wanted to get the pulse of people’s feelings concerning this issue. Indulge me for a moment while I pontificate:<\/p>\n

So what, exactly, does the tracking of DOM actually accomplish? Is it a tool that buyer’s agents use to determine value for their clients? If a home is on the market for 365 days, does it mean that the home is over-priced? Absolutely. However, let us say for the sake of discussion that you take a client to a home because they saw pictures of the listing on line, and thought it looked nice. So, you take them out to the listing, and they fall in love with the home. Now, as a professional agent, you have a duty to your clients to protect their interests. When they say to you that they love the property and want to write an offer, they are relying on your expertise to help them make a good decision. Would you advise them on what price to offer simply based on DOM? Of course not. In fact, to determine a good price for your clients to offer, would you take into consideration the DOM at all? You shouldn’t, as it has no relavance to the home’s value. To come up with an equitable offer, you would simply pull the comparable sold properties, and advise them of this. You would then advise them that the price you have suggested is what the property will likely appraise for, and that unless they want to pay part in cash, they should offer within this range. Paying any more would be unwise. However, an unwise person could pay whatever they want for a property if they have cash, they just need to sign a disclaimer that you advised them against it (someting I did repeatedly in the hot market of 04-05).<\/p>\n

Now, can DOM stats help us to determine market trends? I would submit Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, there have been discussions about the ethics of agents who attempt to manipulate Days On Market in an attempt to remove stigma from a property. This discussion over on Active Rain really got me thinking, and I wanted to get the pulse of people’s feelings concerning this issue. Indulge me for a moment while […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1032","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1175,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1175\/days-on-market-it-is-a-stupid-question-and-a-stupid-answer\/","url_meta":{"origin":1032,"position":0},"title":"Days On Market? It is a stupid question and a stupid answer","author":"Russell Shaw","date":"March 20, 2007","format":false,"excerpt":"The obsession to keep the Days On Market (DOM) \"accurate\" is just one example of a misevaluation of relative importances. Our local MLS, Arizona Regional Multiple Listing Service (ARMLS) fixed up the system so it would show the \"true days on market\". If a property had been listed before then\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"Money Angel","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2007\/03\/Money%20Angel.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17353,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17353\/dear-daniel-morillo-heres-why-opendoors-houses-sell-so-poorly-even-in-a-blistering-real-estate-market\/","url_meta":{"origin":1032,"position":1},"title":"Dear Daniel Morillo: Here\u2019s why #OpenDoor\u2019s houses sell so poorly \u2013 even in a blistering real estate\u00a0market.","author":"Greg Swann","date":"October 25, 2020","format":false,"excerpt":"Once upon a time in my young career, I used to think about sending little notes to flailing sellers, telling them why their houses weren't selling. Arguably, this would have been a violation of Article 15 of the NAR Code of (ahem) Ethics, but it would have been bad form\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/109-clipped.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/109-clipped.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/109-clipped.jpg?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/109-clipped.jpg?resize=700%2C400 2x"},"classes":[]},{"id":2822,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2822\/commission\/","url_meta":{"origin":1032,"position":2},"title":"Commission","author":"Sean Purcell","date":"March 24, 2008","format":false,"excerpt":"There were a number of interesting articles last week regarding the value of a real estate agent.\u00a0 Essentially asking the agent to justify their commission.\u00a0 I know it got heated up over on Active Rain and there was some discussion on AgentGenius as well.\u00a0 Here at\u00a0BHB\u00a0we enjoyed\u00a0two very good posts.\u00a0\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1421,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1421\/a-move-towards-mediocrity-and-beyond\/","url_meta":{"origin":1032,"position":3},"title":"A Move Towards Mediocrity – And Beyond","author":"Doug Quance","date":"May 13, 2007","format":false,"excerpt":"Many Agents Choose To Be Less Than They Can Be In an industry overflowing with too many agents chasing too few opportunities, one might think that this level of competition would cause an overall increase in the professionalism and dedication of its principals. I submit to you - that's not\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":604,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/604\/listing-adventurously-the-bloodhound-way\/","url_meta":{"origin":1032,"position":4},"title":"Listing adventurously the Bloodhound way . . .","author":"Greg Swann","date":"November 5, 2006","format":false,"excerpt":"\"If you list, you last,\" runs the Realtor's mantra. This is true to a degree: It assumes you will last long enough to get a listing and for that listing to sell. It's no accident that most agents start out working with buyers. It's harder work -- from the traditional\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":729,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/729\/an-uncivil-war\/","url_meta":{"origin":1032,"position":5},"title":"An Uncivil War","author":"Kris Berg","date":"December 3, 2006","format":false,"excerpt":"(A Bloodhound Blog\/San Diego Home Blog simulcast). Negotiator: one who arranges for or brings about through conference, discussion, and compromise. Bully: a blustering browbeating person; especially : one habitually cruel to others who are weaker; a hired ruffian. As agents, so much of our value to our clients stems from\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1032"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1032\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}