DOM - What does it mean besides Days On Market in Franklin TN Real Estate
DOM is used in the MLS (Multiple Listing Service) to reference Days on Market or how long a property has been advertised for sale. But what else does it mean?
In this episode from The Relocation Engineer (Engineering Your Next Move), the topic is DOM = Days on Market.
The DOM is listed for each property in our local MLS (Multiple Listing Service). It is a gauge for how well a property is being received by the buyers in a certain area relative to the average for the area. For example a property that is overpriced, or not well maintained or effectively marketed will have a higher DOM than an effectively marketed home that has an appropriate price and good condition.
Many websites do not display the DOM, so if you want to know then shop online at http://mike.franklin.exitrealtyofthesouth.com/ to see the number of days a property as been listed for sale. You can also see on my website when price adjustments are made.
However use some caution and have a knowledgeable REALTOR that knows how to verify if the DOM counter was reset by either withdrawing a home and relisting it or by expiring properties after only 30 days to never have higher than average Days on Market. These are tricks that some agents play to deceive the true DOM. The Relocation Engineer knows how to check into these practices and which agents usually use them.
As a listing agent The Relocation Engineer has historically sold homes for more money and in less time than the average DOM for our local MLS.
The Grumbles Team's Mike Grumbles is Your Relocation Engineer in Franklin, Tennessee 615-587-5843.
EXIT Realty of the South | 1227 Lakeview Dr. Suite 1 | Franklin | TN | 37067 | 615.550.5555 Each EXIT Office Independently Owned and Operated