April 18, 2007
The Monster Comes Roaring Back (2505 Divisadero)
If the planters above looks familiar, they should. Three weeks after being withdrawn from the MLS 2505 Divisadero is listed once again. Gone, however, are 475 days on the market and $2,000,000 (16%) of the original list price (now asking $10,500,000).
And while we’d normally raise an eyebrow (or two) to the “refreshing” of a listing within 30 days of being withdrawn, keep in mind that it's now listed with a new broker (albeit the same agent). Mark Allan Levinson has moved from Alain Pinel to Sotheby’s.
∙ Some Kind Of Monster In This Kind Of Market (2505 Divisadero) [SocketSite]
∙ A New New Policy Change For The MLS [SocketSite]
First Published: April 18, 2007 4:00 AM
Comments from "Plugged In" Readers
As for the re-listing within 30 days; I have no problem with that in this case. It's possible that AP wasn't willing to put the proper marketing investment into the property and Sotheby's will do a much better job of representing this property at $10.5. I predict a sale. Rock on!
PS: I'm spolied now. I'm too lazy to look things up on MLS and you didn't post the new link to SFARMLS.
Posted by: eddy at April 18, 2007 9:31 AM
I don't see how one agency doing a bad job, or a broker switching agencies, is grounds to reset the DOM for a property. I don't think that'll be an issue for this particular property, as buyers will hopefully be well-represented and informed, but it would be an issue for your run of the mill property.
Anywhere we can report this blatant rule violation?
[Editor’s Note: As far as we know, it’s not a rule violation. New broker, new MLS number, nothing to report.]
Posted by: paa at April 18, 2007 10:16 AM
How does switching brokers get rid of the 30 day rule? If you use a new broker, is that not considered "relisting"? If it's the same house, how is taking it off the market and then putting it right back on not a relisting? I'm not arguing, just genuinely curious.
Posted by: paa at April 18, 2007 1:34 PM
AFAIK, DOM is tied to the listing, which is tied to the agent/realtor office. I'm not sure there is even a way to change the DOM for a new listing?
Again, any broker dealing with $10M+ clients is going to be sophisticated enough to check prior history. The bigger issue is when this happens with lower priced inventory and the system is being 'gamed'.
Posted by: eddy at April 18, 2007 2:56 PM
I notice RE Infolink is now doing (Days On Market) and CDOM Cumulative Days On Market.
Posted by: Mystery Realtor at March 11, 2008 3:26 PM
It's baaaaack.. At 8.9 and a new agent
[Editor's Note: Cheers: Kirk Hammett’s Pacific Heights Monster Is Back (2505 Divisadero).]
Posted by: sleepiguy at September 29, 2009 11:23 PM