FranklyMLS.com 101: DOMM vs DOMP Days On Market

New Series: FranklyMLS.com 101

#1 What is the difference between DOM-M and DOM-P?

Both of these terms refer to Days on the Market for a house for sale.

DOM-M stands for Days on the Market-MLS. Or the number of days this exact MLS listing has been on the market (not the home, but the MLS#).

DOM-P stands for Days on the Market-Property (other states call it C-DOM Continuous Days on the Market). So regardless of the number of different Realtors, or same Realtor relisting, it shows the total number of days the property has been for sale. (A house has to be off the market for 90 days to reset to 0 DOMP see details on MRIS blog)

  • I have found that the average MLS listed home in Northern Virginia drops 8% (including seller subsidy, see older post) from the real first MLS listed price (sorry, but no public MLS system shows the starting price if it was relisted).
  • However a home that sells within the first 10 days sells for only 1% below list.

(sidenote: Some disagree, but I have found a strong correlation to DOM and % off list price. The longer it sits, the lower it goes. I even created something called the Frankly Price Predictor, where I give an estimated price for Active listings based on the Days on Market. Should I put that back on FranklyMLS?)

FranklyMLS.com is one of the only sites (out of 33, see all here) that will show you both the DOMM and DOMP (most show neither). See a sample search for Arlington Homes. We think it is important to have as much data for the consumer as possible.

Examples: Property has been 85 days with one Realtor, and then 10 days with another. That would show up as: DOMp/m= 95/10

Tricks: Where there is data, there are Realtor tricks (more here on MLS DOM fudging).

  1. Fat-Free Fudge (ie legal). An agent relists their own property in order to reset the DOMM (but not DOMP). This is allowed. I don’t like it and it has a ton of drawbacks (like buyers that have your homes saved, suddenly think it is sold). Advantages: a) looking like a new listing for sites that don’t show DOMP b) The “Original price” is reset (only a few sites show this as well).
  2. Full of Fat Fudge (illegal). An agent manipulates the tax data with ID # 00000 so that it resets the DOMM and DOMP. The fine for this was $50. After my expose’ was mentioned in BusinessWeek, the fine is now $1,000. Blogging for a purpose= Priceless
FranklyMLS 101 Continued: #2 What is the “Original Price?”
This is the starting price for this one particular MLS listing (or DOMM) and NOT the starting price of a previous listing for this home (DOMP).
This is kind of confusing, and misleading (I didn’t make the MRIS system). So if it was listed 50 days ago by another Realtor for $50,000 higher, under a different MLS# that will not show up as “Original Price.”
But if 1 Realtor has it for $300,000 and then 30 days later that same MLS listing is dropped to $285,000, the “Original Price” will come up as $300,000 and the List Price (or Asking Price) will be $285,000.
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– Written by Frank Borges LL0SA- Broker / Owner FranklyRealty.com (report typos)
  • 4
  • June
  • 2008

21 Responses to “FranklyMLS.com 101: DOMM vs DOMP Days On Market”

  1. Rick says:

    Big Advantage over other sites….

  2. Steven B says:

    I am a new convert to and frequent user of franklymls, and have been telling friends about it. What I love most is that you share DOMM/DOMP, and the search flexibility.

  3. RE says:

    I had to ask my realtor, several months ago what DOMM was. I’ve been using your site almost since it appeared. Now you have an explanation, which is excellent.

  4. Rachel G says:

    I had no clue what domp or domm were, but we googled it and found out and now I love that feature! I had actually said that when we were searching before, I wonder how many days this has been on the market!

  5. Lanna says:

    I know the difference thanks to your linked explanation. Knowing that a home has been on the market for a year tells me that I might be able to get a better price than, say, a home that was listed last week. I also appreciate seeing the tax value for last year, the original listing price and current price. It helps me make a more informed decision.

  6. Anonymous says:

    Yes, please we would love to see Frankly Price Predictor. I think its much needed tool and people would be big advantage and people would love it. Great Site and this would be great add-on.

  7. Juan says:

    I stumbled upon this site by searching for a specific address on google, and have been using it all day today.

    Thank you for such a great resource.

  8. Leo James says:

    Frank,

    I love this DOMp/M feature you added. I didn’t understand when I chat with you yesterday. But I do now.

  9. Donna says:

    This is a GREAT website! Love searching for homes here because ALL the information needed is listed on one source rather than having to use multiple websites to get the whole picture.

    DEFINITELY start putting “Frankly Price Predictor” on the listings!!!

    Thanks!

  10. FRANK LL0SA Va Broker- BLOG.FranklyRealty.com says:

    Thanks Donna,
    I think that might really tick people off. I’ll think about it.

    Right now we are adding price drops, and the previously sold price! DO I add that in the spreadsheet mode? hum?

    Also I will be showing the PREVIOUS list price for homes that were relisted. Not 1 website has that. Should that go in the spreadsheet mode?? Maybe a rollover?

  11. BIG Papi says:

    Just by luck I found this site. I continued to look on the site until I found exactly what i was looking for at my price. I still can’t believe the great deal. I had to go to the county website to confirm what I paid for it and what it appraises for. I recommend this site to anyone looking to purchase a home.

  12. David says:

    could u add a function that searches by days on market…an operator example like this…. DOM>100 means search for properties that have been on market greater than 100 days……or some simple operators so we can shoose how to search…DOM<2 meaning listed 2 days…etc? or can we do this already i tied but it didn't work….dave

  13. David says:

    oops ..try again looking to know if you can add search operators DOM>100 or DOM<# meaning homes on market greater than 100 days or less than three days etc..

  14. FRANK LL0SA Va Broker- BLOG.FranklyRealty.com says:

    Hey David,
    Currently there is not a system to search like that. All we have is sorting by DOM

    Frank

  15. […] First to show both Days on The Market DOMM & relisted DOMP (what’s that?) […]

  16. Anne says:

    Love this site! Thank you.

  17. Bryan says:

    I LOVE THIS REAL ESTATE RESOURCE! IT IS THE BOMB!!!

  18. Dana says:

    This site is one of the best I have encountered. I check it religiously.

  19. mappo says:

    Not sure if these old posts get any attention, but who would one report a “full of fat fudge” to? A long-in-the-tooth listing I’ve been watching went off the market for a couple weeks and is now back with a fresh MLS# and a DOMm/p of 0/0. Very sneaky!

  20. Crystal says:

    This site is awesome and the best of the best features you offer is the domm/domp and the previous listing prices. I love it and I tell EVERYONE that I know that is looking for a house. Keep up the good work.

    FYI, I found my first home here and I’m looking now for a second one. The first time my brother visited my home his exact greeting was “how did you find this home?” and I told him. I love this site!

  21. Hunter123 says:

    dOM/P definition should say days on market before a contract because it stops calculating the numer once a contract is on the house. So you may see a DOM/P of 5 days but when you look at history compare to contract date, compared to closing date you come up with different number. I call it the days on market before a contract was placed on the house.

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