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.