Update 4/2: This post was part of our annual April Fool’s campaign… Days on Market (DOM) is used to help agents understand how long a property has been on the market. Historically, this method of counting time in days worked as homes would take weeks, even months, to sell.
However, in today’s fast pace climate, DOM simply cannot capture an accurate measure of how long a property has been on the market. That’s why, beginning April 1, we’re replacing Days on Market with Minutes on Market (MOM). MOM will allow agents to get a more accurate understanding of how long a property has been available.
Tom Ruff, from the Information Market, believes this is a win for subscribers. “Properties are selling in a matter of minutes when hitting the MLS, which is why this change makes sense. I think our subscribers are going to love it.”
If you have any questions or concerns, please let us know by emailing AprilFools@ARMLS.com.
Anonymous
Incredibly bad idea. The concept is understanable however the math involved for the typical buyer or agent to make sence out of MOM defeats what you are trying to accomplish. It does not enhance understanding it diminishes understanding for the vast majority of your users and their clients. Hope this poorly thought out change goes away quick. The industry is not ready for your attemped inovation!!!
James Marcus
Hi! Your feedback was forwarded to AprilFools@ARMLS.com……..
Anonymous
One will need to carry a calculator to make sense of MOM. The MOM figures incredibly long numbers. If the market changes and homes do not sell, will you go back to DOM? I say, leave things alone so people understand the information.
James Marcus
Hi! Your feedback was forwarded to AprilFools@ARMLS.com……..