Certified Relocation Professional (CRP) Practice Exam

How should days on market be reported if a property is listed multiple times?

1. Only the days that the home was last listed would be reported

2. The days the home was on the market would be added together for all listing periods

3. The days would be averaged together and reported

4. Only the days from the last two listing periods would be reported

The correct answer is: The days the home was on the market would be added together for all listing periods

Days on market should be reported as the cumulative total of all the days the property has been active listing during various listing periods. This method provides a more comprehensive understanding of the property's market performance and can offer insights into demand and pricing strategies. When properties are re-listed, it is important to consider the entire history of marketing, as previous listings can inform decisions for current or future selling strategies. Totaling the days across all listings reflects the property’s complete time spent on the market, showcasing any potential challenges it may have encountered in attracting buyers. In contrast, reporting only the days of the last listing disregards the entire context of how market conditions have affected the property, while averaging days could dilute the significance of individual listing exposures. Focusing just on the last two listings may leave out vital information from earlier periods that could impact decisions. Thus, summing all days on the market is the most effective way to convey the overall market activity for that property.