Refusing To Submit ALL The Data
“Can’t Have Those Crappy Neighborhoods Ruining It For The Rest of Us”
From a South Florida paper,local realtors are refusing to submit all the data to their regional Board of Realtors, because doing so would dilute the nicer parts of town with lower-priced and worse-performing neighbors:
“The Naples Area Board of Realtors has long wanted to report that city’s results undiluted by lower-priced and worse-performing neighbors. In fact, for the past few months, the board has refused to submit its sales and price numbers to the Florida Association of Realtors for its comprehensive monthly reports.”
How do they so? First, a slow selling house can get pulled off of Multiple Listing, and then relisted with a different MLS number and at a lower price. That makes the overall time-to-sell appear much better than it really is. The mulligan can take months or even years of time-on-the-market-to-sell. This game also improves the “Percentage of asking price received” number.
