Tag Archives: NON-MLS

Why Investors and Rehabbers Prefer NON-MLS Properties

 

The Multiple Listing Service or MLS begins counting the cumulative days on market (CDOM) as soon as a listing is entered.  When an investor or rehabber purchases an “AS IS” property that has been listed it already has amassed an amount of CDOM.  Once the improvements have been done and the rehabber needs to get the completed project marketed unless 90 days has passed from the last MLS listing the count continues adding days to the previous listings CDOM.  The history of that property on the MLS will indicate a price increase, because the improvements have hopefully increased the property’s value and an inaccurate number of cumulative days on market.  At quick glance this fresh listing can look stale.  When a rehabber purchases a property that has not been listed on the MLS, the day the improvements have been made the property can then be listed with a Realtor and appear as a new listing with the CDOM count begining at one.