Days On Market

Once a listing appears on the MLS and, by automatic extension, its syndicators, they start counting the number of Days On Market – DOM.

And in order to reset the DOM, a listing would need to be pulled for 30-60 days. And even then it may be a searchable variable to see if the listing is truly new or a re-listing.

So naturally one would think that first advertising your home on an independent platform is a lesser commitment, which can ‘test the waters’ before putting your home on “The Market”.

However there is an MLS DOM catch. It is that the only way to advertise on the MLS is via an MLS licensed broker, and the MLS has clear rules with their brokers about “public advertising” prior to inputting a listing into the system. Specifically, a listing broker must submit a listing to the MLS within a specific timeframe (often 1-5 business days) after the beginning of “public marketing.” Obviously, in principle, “public marketing” can be anything, even a yard sign. So this is where the MLS leverages its extreme power in the market – against sellers who want to use other platforms prior to listing on the MLS.

Because of this MLS DOM catch, a FSBO is bottlenecked into one of three strategy choices:

  1. List only on MLS (& syndicators).
  2. List on MLS (& syndicators), then list on any/all independent platforms and use other public marketing vehicles.
  3. List only on independent platforms and use other public marketing vehicles, foresaking the MLS and all its syndicators (about 85% of all searches) because the syndicators will back feed DOM to the MLS.

The 4th strategy (which would be problematic due to this MLS DOM catch) is to list on independent platforms and use other marketing vehicles and then list on MLS. The reason it is problematic is because you probably will not have enough time to gain much sales traction before the MLS time limit against “public marketing”, prior to MLS listing, will have transpired.

Therefore the reality is that, as a FSBO, it is likely foolish to shut yourself out of 85% of the search market. Thus strategy #2 is made near incumbent upon the FSBO seller.

Note: The DOM is a crucial psychological factor in affecting the perception of your home’s value. From an impression standpoint, think of DOM like the odometer on a used car that you are selling.

  • 1 Week DOM = 5,000 miles
  • 1 Month DOM = 30,000 miles
  • 3 Months DOM = 75,000 miles
  • 6 Months DOM = 120,000 miles

This is not a commentary on the quality of your home, necessarily, but only the psychological impact on how the market’s ‘feel’ is affected. For this reason, it is crucial that a seller get as much prep work done as possible prior to listing on The Market.

Below is a more detailed look at the analogy.

DOM to Odometer = The Core Analogy: Time vs. Distance

The fundamental comparison is:

  • DOM (Time): Measures the duration a home has been exposed to the market without selling. The implication is that every day it sits, it’s being “worn down” by market rejection.

  • Miles (Distance): Measures the physical usage and wear on a vehicle’s components. The implication is that every mile driven contributes to mechanical depreciation.

Computed Corresponding Numbers & Psychological Impact

Here is a tiered breakdown, translating DOM into an equivalent “Mileage” narrative.

Tier 1: The “Fresh & Desirable” Listing

  • DOM: 0 – 7 Days

  • Analogous Mileage: 0 – 5,000 Miles

  • Psychological Impact: This is the “new car smell” or “model home” effect. The listing is perceived as fresh, untouched by the masses, and highly desirable. Buyers feel a sense of urgency, fearing they might miss out. They are more likely to pay at or above the asking price. There is no stigma; only excitement.

Tier 2: The “Standard & Well-Maintained” Listing

  • DOM: 8 – 30 Days

  • Analogous Mileage: 5,001 – 30,000 Miles

  • Psychological Impact: This is the sweet spot for a reasonable market test. The home/car is seen as “barely broken in.” It’s been on the market long enough to be seen by a pool of buyers, but not so long as to raise red flags. Buyers feel they are making a sensible, low-risk purchase. Negotiations are standard and focus on fair market value.

Tier 3: The “Stale & Questionable” Listing

  • DOM: 31 – 90 Days

  • Analogous Mileage: 30,001 – 75,000 Miles

  • Psychological Impact: The first major psychological barrier. The “Why?” questions start.

    • For a House: “Is it overpriced? Is there something wrong with it that the pictures don’t show? A bad inspection? A weird floor plan?”

    • For a Car: “Was it driven hard? Were the maintenance schedules followed? Are there minor issues starting to pop up?”
      Buyers now approach with caution and assume a significant discount is warranted. They are preparing for a more aggressive negotiation.

Tier 4: The “Problem Child” Listing

  • DOM: 91 – 180 Days

  • Analogous Mileage: 75,001 – 120,000 Miles

  • Psychological Impact: The stigma is now significant. The narrative shifts from “Why hasn’t it sold?” to “What is wrong with it?”

    • For a House: Buyers assume major, expensive flaws: foundation issues, major water damage, legal title problems, or a severely difficult seller.

    • For a Car: Buyers assume major components (transmission, engine) are nearing the end of their life and expect costly repairs soon.
      Offers will be low-ball, and the pool of interested buyers shrinks to only those looking for a deep discount or a “project.”

Tier 5: The “Lemon or Teardown” Listing

  • DOM: 180+ Days

  • Analogous Mileage: 120,000+ Miles

  • Psychological Impact: The property/vehicle is considered fundamentally flawed. It is the domain of investors, flippers, and bargain hunters looking for land value (for the house) or a parts car/beater (for the vehicle).

    • For a House: The assumption is that the cost of repairs will be astronomical. The value is often seen as purely in the land.

    • For a Car: The assumption is that it’s on the verge of a major mechanical failure. The value is in salvaging parts or as a short-term “beater.”
      Marketing must completely reframe the asset to attract the right buyer.

Critical Nuances in the Analogy (The “Carfax” and “Price Reduction” Factors)

The raw numbers don’t tell the whole story. The context is everything, just like a vehicle’s history.

  1. Price Reductions = Major Service/Maintenance:

    • A house that has been on the market for 60 days but has had two strategic price reductions is like a car with 70,000 miles that has a full service record, including a new transmission and timing belt. The price drop is the “repair” that makes the asset viable again. It resets the buyer’s psychology from “What’s wrong?” to “Ah, now it’s priced correctly.”

  2. Relisting/Staging = Detailing & Cosmetic Repair:

    • Taking a house off the market for 30+ days and relisting it with new photos and fresh paint is the equivalent of a “detailing” and “paint correction” on a high-mileage car. It doesn’t change the fundamental history (DOM/Mileage), but it presents a fresh, attractive face that can psychologically reset a buyer’s first impression.

  3. Seasonal Markets = Different Types of Driving:

    • A house with 90 DOM in a slow, rural market is like a car with 90,000 mostly highway miles. It’s a lot, but it was accumulated in a low-stress, predictable environment.

    • A house with 90 DOM in a hot, urban market is like a car with 90,000 city miles. It suggests severe wear and tear and a fundamental problem, as it couldn’t sell in a favorable environment.

In conclusion, the psychological journey of a buyer seeing a high DOM is similar to one seeing a high odometer reading: it’s a story of perceived wear, risk, and the immediate assumption that a significant discount is not just warranted, but required. As a marketer, your job is to control that narrative by providing context, demonstrating value, and, if necessary, performing the equivalent of a “major service” (a price reduction) to make the asset attractive again.