Thou shalt not disclose 'days on market'
By Glenn Roberts Jr., Wednesday, March 5, 2008.Bookmarking Sites
The Association of Associates Representing Sellers (AARSTEAM), a just-launched for-profit corporation that is open to membership by independent, non-Realtor agents and brokers who work with sellers, promotes an "Oath of Actions" that may rubsome buyers (and their agents) the wrong way (see Inman News).
Sellers who pay the annual fee to join the association must "solemnly swear to abide and uphold" this oath, according to the association's Web site. As members, they:
"Shall be responsible on behalf of ... sellers to financially validate any/all potential buyers before all showings," "Shall not utilize any form of a 'lockbox' or 'hidden key' method to allow another individual ... to view the seller's premise without your presence," and "Shall not disclose a seller's days on market to any potential buyer at any time," among a list. (There has been debate in the industry over the display and distortion of days on market data.)
Russell Dickson, the CEO of New York brokerage company NoSellerCost.com and creator of AARSTEAM, said he believes National Association of Realtors policies do not best serve sellers, and it would be a conflict for members of AARSTEAM to also serve as Realtors.
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Submitted by Mitch Argon on March 5, 2008 - 3:48pm.
This is silliness. I principally represent buyers of Reno real estate and expose days on market, prior listings, and all of this information freely.
It takes two sides to make a transaction!
Submitted by Jay Thompson on March 5, 2008 - 5:14pm.
Interesting. Many of the items in that "oath" minimize the opportunities for buyers to see the home.
And this "best serves" sellers how????
I'd predict this thing will be a miserable failure, but that would imply it must have some success in order to fall...
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Russell Shaw on March 5, 2008 - 8:04pm.
This is yet another in the seemingly endless stream of stupid and pointless ideas to "help" the residential real estate industry.
Submitted by Jay Seville on March 6, 2008 - 5:53am.
Pathetically juvenile and hurtful to the would be homeowners they claim to service. No lockbox=no showings. Way to serve those sellers; now get a life or a brain.
J
Submitted by Ron Ares on March 6, 2008 - 9:27pm.
I had to check the date and make sure it wasn't April 1. It's a joke right? AARSTEAM = ARSE TEAM
Submitted by M Simpson on March 7, 2008 - 6:44pm.
.. Amazing ...
Agents are losing more and more integrity everyday ... and now sellers get to watch this..?!?
Submitted by Toby Boyce on March 8, 2008 - 5:50pm.
As an American, I would enjoy a competitor to the NAR in regards to the industry's reputation.
However AARSTEAM is not it and I don't see it lasting very long. Why?
We have "pseudo-closed" boards in our area, they have their own MLS and they would really like all us not in their board to stay out. It has worked for years.
In the past several years, more and more of them are "cross-posting" to the Central Ohio MLS system. Why? Their sellers are demanding it. Their sellers want more exposure.
Exactly the opposite of what AARSTEAM presents.
Submitted by Susie Blackmon on March 10, 2008 - 4:23am.
Susie Blackmon
http://www.BuckingtheRealEstateTrend.com
We should provide ALL pertinent information. It's all out there to be found anyway - - even when property is relisted to 'hide' the actual DOM.
Submitted by Melissa Manford on March 10, 2008 - 7:31pm.
Realtor or Independent Real Estate Agents you both have to Follow your States, Real Estate Laws.
I have been reading alot about this New Assoc. and one BIG "debate" towards them, is regarding DOM. I thought this be such a "frivolous attack", regarding not showing how long a house has been on the market. It seems to have brought about some not only childish but insulting, vicious and degrading comments against this assoc. and memebers. WOW!!!!!!!!!!!!!
Then I thought, can anyone else have this same opinion about not disclosing DOM. "A little research goes a long way". It seems to be the other association, MLS has the same views. Below is the link you can check out.
http://blog.inman.com/inmanblog/2007/07/socal-mls-yanks.html
BY JESSICA SWESEY, FRIDAY, JULY 13, 2007.
SoCal MLS yanks days-on-market data
Citing complexity and confusion over this information, SoCal MLS last weekend decided to remove all days-on-market data from consumer reports.
In an announcement on its Web site, the MLS says that:
"With the changing market there has been much discussion, contention and even litigation over Days on Market and Cumulative Days on Market figures.
"One view is that it hurts sellers, another is that it helps buyers.
REALLY....
I did discover a few objections to this article in the post below it, but nothing like the post to the new associations.
I guess it's a great feeling to have no concern as to if ones conduct is intended to threaten, defame, degrade, victimize, or intimidate an individual or group of individuals for any reason. Funny thing is, I don't see any post from 1.7 million non-mls members, belittling, insulting, boy cotting or displaying any concern regarding anyones right to join the MLS organization and it's Code of Ethics.
Submitted by Ki Gray on March 14, 2008 - 5:40pm.
I dont see how adding more difficulities for buyers to see a property will help sellers. There are so many groups offering a competing mls its getting ridicious. Whats amusing is everyone that has a "alternative mls" thinks they have a novel idea.
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