What is the AZ real estate law regarding resetting the number of days on market (what is required)?
There is no state statute defining how “days on market” (DOM) is set, counted, or reset. These factors are based on the MLS rules and regulations, not state law. That said, here’s how it works (note, this applies only to the Arizona Regional MLS (ARMLS) — other MLS’s have different rules and regs). ARMLS uses two number to show DOM. “Agent DOM” (ADOM) and “Cumulative DOM” (CDOM). It’s easiest to explain with an example: If you list your home with Jay and Francy Thompson, then the ADOM and the CDOM clock begins ticking when we enter the listing into the MLS. Assuming you don’t fire us (and you wouldn’t of course), the ADOM and CDOM will be the same number, with the DOM clock stopping on the day of close. Now, let’s assume that you fire Jay and Francy (that’s a real stretch, but it’s theoretically possible) and enlist the services of another agent. At that point, the CDOM clock continues to click as if nothing changed. It is after all, tracking cumulative days on market. However, the Age
