A little confused. I’m not saying that there is a specific fraud being committed by the owner of the house in question, or even prudential. I’m also not saying that it was Prudential’s listing (It was on their sheet and I spoke to the broker about the specific listing). They probably did take it off the market for a day, then relist it. They did switch brokers, etc. This is probably within the rules – that is my point. They are manipulating the rules to change the days on market. No one wants to have admitted that they house was on the market for 200 days, so they gamed the system.
But what is worse in my opinion, is that the broker who made the advertisement knows that the data is wrong. They specifically called out how the days on market is dropping when they know that the house has actively been for sale for 200 days or longer.
The DRE would just say that as it came back on the next day they are allowed to show days on market at 0. These rules are perpetrating the fraud. Why would anyone trust the real estate establishment anymore?
If you ask me, it’s the Realtors who should take a stand. And by taking a stand I don’t mean contributing to any pro-real estate politician, I mean try to fix corrupt and misleading industry practices to make their own profession not look like whores.
As stated ad nauseum on this board before – most of the public doesn’t realize how much of the data is wrong, misleading, or downright fraudulent. The ones that do include the Realtors themselves – but try talking to most of them! They will defend the most egregious of practices – and people wonder why they have no credibility!
I also understand that brokers have access to cumulative days on market. Why isn’t this data presented to the public?
