(This question answered at the 1:11 mark)
The acronyms DOM and CDOM are used to describe the days a property has been on the market on the Multiple Listing Service (MLS).
DOM = Days on Market
CDOM = Cumulative days on Market
This will let you know how many days a property has been available for sale. The property has to be off the MLS for at least 60 days for the DOM to start over, even if it is listed by a different REALTOR®.
What we have found is that the number of days a property is on the market will have a major effect on the amount that a buyer will decide to offer. If they see a large number of days on the MLS they will assume the seller is desperate and make a low offer.
Actually, that’s best case scenario, more likely is that buyers will assume there is something wrong with the house and they often won’t even want to view the place because they don’t want to buy a house that has problems.
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