Agents behaving badly
A practice that is becoming more common in our market is the cancellation of a stale listing and then re-listing it immediately as a new listing. Another trick that I have seen in use is a very short listing period of a couple days, then after the listing expires re-list at the same terms. What these tactics do is bring the property back into visibility in the "Hotsheet Reports" section of the MLS system.
While some may view these tactics as aggressive marketing, I think that are close to crossing the line and would like to see some MLS system changes to make these practices much more difficult to implement.
I purchased a Cape Coral canal lot last week under an assignment of contract arrangement that had price changes or had expired and re-listed an unbelievable six times in less than three weeks. Due to my familiarity with the area, I was comfortable that I got a very good deal.
If you are looking at a property that appears to be a new listing, it is a good idea to have your agent pull the listing history for that property as this will show cancellation and re-listing history.
Home won't sell? Some cancel and relist [Boston Globe]