Categories: Hoboken Condos
When we list properties on the MLS there is a link to something called the “property history”. With a click of the mouse, all agents can see and share with their customers what the property was listed for originally and all subsequent price reductions. That same history of price changes often shows up on secondary real estate sites like Realtor.com, Trulia and Zillow. The price history of a “for sale” unit is something in which buyers typically are very interested. I always look at it and share it with my buyers.
Today, when I was emailing my customers new listings and price reductions something funny caught my eye. I noticed an agent (intentionally or not) found a way to beat the system. This particular property was listed at the original price and had one price reduction, so far. Rather than reduce it a second time, which would make the multiple price cuts apparent to everyone with one click of the mouse, the property listing was withdrawn so that it momentarily came off the MLS. Then ON THE VERY SAME DAY the agent relisted the property at a significantly lower price. Why does this matter, you may wonder? Well, not only does this make the prior price reductions much harder to find, it also resets the “days of market” to zero, making it look like it’s a new listing – again.
People wonder why some realtors have a bad reputation.