From and Inman News (sub required) article regarding the practice of “re-listing” – pulling a listing from the MLS and putting it back on so it appears to be a “new” listing and thereby defeating the vaunted Days on Market (DOM) statistic:
The National Association of Realtors Code of Ethics provides that “Realtors shall be careful at all times to present a true picture in their advertising and representations to the public,” though Lucien Salvant, a spokesman for NAR, said that MLSs are not considered advertising vehicles. “It’s a local MLS issue on how they address (relisting),” he said. “There is no NAR requirement on that particular point.”
Um, then what exactly is the MLS, if not an advertising vehicle?
Note: as this post sat in the “scheduled postings” area of WordPress, jf.sellsius posted this excellent post (no longer available) as part of his 50-posts-in-a-day (no longer available).
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