DOM should be DOA
One of the most over used and useless stats in Real Estate.... Days on Market.. I don't think it should ever enter the equation when buying a home.
DOM should be DOA Blog Transcription
Hey there! Rob Reynar here, wanna talk a little bit about Days on Market. Days on Market is something that is thrown around in this business a lot, it's on every listing, it's there for everybody to see, every realtor can find out how long every house has been on the market, but does that matter? I'm here to tell you, " it does not matter", price is what's important not days on market. Days on Market is just simply the day they listed it, it has no relation to whether the house is good or bad, good value, bad value. Days on Market is the most irrelevant stat in real estate today and here's the mistake that a lot of buyers make, they walk into a house, they look around and they say to their agent, "how long has it been on the market?" Okay, fair question, but the agent very rarely responds in the correct way. They usually look at the days on market and then try and justify a position of value based on that days on market. Biggest mistake you can make because the seller is not thinking about it in those terms. There's a number of reasons why a house can stay on the market for a short of long period of time and sometimes its not related to value. To make the leap between days on market and value is the biggest mistake buyers make and it's one of the biggest stumbling blocks to getting deals put together. So, ignore Days on Market, find the best house you can in your price range. I'd Love to hear your comments on this, info@robreynar.com R-E-Y-N-A-R, info@robreynar.com. Talk to you soon, buh bye!
This is a transcription of the latest Video Blog from MorrisReynar.com . If for any reason there is a discrepancy between this text and the Video Blog, the Blog is deemed accurate.
