“Realtors just want a fast sale!”

No, actually, we want the BEST price and terms for our own clients. And the number of days on market HURTS those chances.

Watch my short video about this or read on: I wish I could abolish publishing “days on market.” Buyers typically assume “something must be wrong with the house” instead of assuming “no one wanted it for that price,” which is more accurate. I’ve even heard Realtors make this assumption. So why does it get published??

The origins trace back to 1885 -- that's why I'm dressed like this -- when the San Diego Real Estate Board created the first known MLS, requiring members to share lists of properties for sale, sold, or withdrawn multiple times daily via runners, specifically to promote cooperation among brokers. From the start, the entire point was information sharing between agents, not consumers. "Days on market" was just a bookkeeping timestamp. Nobody was weaponizing it against sellers. It was simply: when did this entry appear in the book? That information carried over into MLS books (also not shared with the public), computerized internally, and finally to the Internet, where it WAS shown to the public. That's where it had perhaps unintended consequences.

What had been a behind-the-scenes logistics number became a visible social signal to millions of consumers who misread it as: 'something MUST be wrong with the house.' Buyers take that information and UNDERSTANDABLY use it to their advantage. Smart buyers paying attention to the market will understand when the tide turns in their favor. A house on the market longer than others attracts offers with STEEPER price cuts. And that's exactly why, as a real estate broker working with a seller, I AM concerned with "days on market." Not because I want a fast sale for MY benefit – it’s for yours.

What do YOU think? Should days on market be published? Contact us to continue the discussion.