Bay Oaks Clear Lake

By Debbie Russell 281-910-2001
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Expired Listings  Each time a property is listed the MLS will assign that listing a unique MLS number.  When consumers are viewing statisticals reports that include DOM (days on market) it is important to keep in mind that the MLS is only able to calculate the days on market for the listing number that actually closed.  The MLS can not and will not include the days on market for the listings that failed to sell during their initial listing term(s) of which all had a different, unique MLS number to the MLS number that actually closed.  
 
During the year 2007 there were 15 homes in Bay Oaks that did not sell during their initial listing.  Many of these homes did sell when listed again for the second or third time.  However the DOM (days on the market) for those homes sold started all over with a new unique MLS number and a new fresh count for the DOM (days on market) each time the homes were re-listed.
 
Terminated Listings The same DOM calculating techniques apply to terminated listings as they do to expired listings. 
 
The contractual difference between Expired and Terminated Listings are:
Expired Listing means that the contract between seller and broker was for a particular period of time.  Often listing agreements are for 180 days.  Regardless of the time period of the listing agreement whether it be 30, 90, 120, 180 days or more, expired listing means that the properpty did not close during the contracted period of time making the agreement ...expired...over...finished.  Whereas,
Terminated Listing means that the contract between seller and broker was ended by mutual agreement prematurely...prior to the fulfillment of the initial contract period of time.  It is not uncommon to see a listing broker terminate a listing only to re-enter it into the MLS to start the re-aging process over.  This action makes it appear as if the listing sold in less days then what is reflected in the MLS.
 
It is important that sellers understand this when viewing any DOM statistics as they do not include the DOM for any previously expired or terminated listings.  It could easily appear as though it took a property six months to sell but in reality it took the property 12 months to sell beause the property was listed for two six months terms with two unique MLS numbers.