In light of the continuing COVID-19 crisis and its impact on the real estate industry, REBNY has issued an order to stop Days on Market (DOM) calculation across all consumer portals in NYC that participate in the RLS network. All our partners have been notified and are expected to disable Days on Market calculation as of Friday, March 20 until further notice. We believe that this is one of many steps to support the residential brokerage community during this difficult time.
This is a direct action by REBNY to prevent owners from pulling their homes off the market. In a slower sales cycle, seller do not want their days on market to keep increasing. But if every listing came offline then portals like Streeteasy and other websites will have no function and the market could be set back years.
This is a direct call out to owners. "Keep your homes active and online, there will not be any negative effect"