A Million Hear About DOM Scandal

Posted by Dave Fratello on Friday, July 20th, 2007 at 5:08pm.

MBC's readership is high-quality, but it's measured in the hundreds. Today's LA Times, thrown on the driveways of a million people this morning, takes a page from our focus on DOM trickery in a strident staff editorial entitled, "Not-so-open houses."

The piece is an attack on the recent decision by SoCalMLS to cease publishing DOM in client reports. Per the Times:
[T]his is clearly a change that serves nervous home sellers and their agents — the only parties who would be concerned that apparently lengthy days-on-market periods might prompt buyers to make low-ball offers.
Right.

The piece goes on to note the irony that this cutback in information is coming at a time when "the real estate market is experiencing a rapid trend toward transparency." Right again.

Unfortunately, the only online tools referenced are two realtor-driven sites and something called cyberhomes.com, no reference to our favorites, ZipRealty and Zillow – but also no free promo for dreadful Trulia.com.

Since a lot of you aren't going to take the time to read the whole LA Times piece, we shall ruin it for those who do by sharing the closing line:
So here's some advice: When an agent tells you that overpriced starter home you're looking at just listed two days ago, smile, nod and check to see how thick the dust is on the windowsills.
Skepticism is going mainstream.
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