It has been a long-running problem that agents cancel and re-list properties merely for the sake of generating renewed interest for listings that are not getting any activity. It is also a means by which agents attempt to fool shoppers into believing a listing is actually new instead of 120 days old. This creates a number of problems and workload for the MLS computers and those that manage them, as well as the myriad sites for Windermere, Coldwell Banker and John L Scott, as auto-generated emails go out to thousands of agents and buyers advising them of “new” listings that are not actually new. So the rule is directed at the abusive “re-listers”. Instead of re-listing with price reductions of less than 5%, listings will simply be changed, and the market time will continue to accumulate.
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