“DOM” vs. “CDOM” vs. “PDOM” Unbeknownst to non-Realtors, there are not one but THREE different ways to count the number of days a given “For Sale” home has been the market. According to the Multiple Listing Service (“MLS”), they are: One. Days on Market (“DOM”): the number of days the current listing has been on the...Read More
Beauty in the Eye of the Beholder Buyer When should a listing agent (representing the Seller) explicitly market that a home “needs cosmetic updates” (or the equivalent)? Less often than you might guess. Here are my three reasons why: One. The pictures tell the story. For years, websites like EdinaRealty.com have allowed an unlimited number...Read More
Stealth Objection (Deal Breaker?) for Home Buyers With Small Kids It’s not a field on MLS (yet), but maybe it should be: whether you can see the kids in the backyard from the Kitchen. That criterion isn’t important for every Buyer, but for the ones it is . . . it can be huge. At least in my...Read More
“By popular request, the new NorthstarMLS default setting for ShowingTime overlapping appointments is to continue to allow them, but no longer reveal the appointment blocks/overlaps to the showing agent that other agents have scheduled.” –Notice to Twin Cities Realtors, NorthStar MLS (August 7, 2018). [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and...Read More
Lies, Damn Lies, and Realtor Statistics What’s the best way to tell if a “saved” MLS search is in fact a prospective home Buyer, who’s watching the property in the hopes that the price drops? Reduce the price. If the price reduction triggers a wave of showings (and ideally, offers!) . . . the “saved” MLS searches...Read More
“Would You Like Some Fries With That Ketchup?” — Housing Edition $1.5M Mediterranean villa on the Mississippi is car lover’s dream home. —Star Tribune (June 25, 2018). It turns out that a five-car garage — like the one featured in today’s Star Tribune — is hardly the Twin Cities’ biggest. Perusing MLS transactions the last 3...Read More
