If you are going to cancel and relist a property, there are a few things to keep in mind:
- Canceling a listing means that the listing agreement you had in place with the seller is null and void. In order to be able to relist that same property as a new listing on the MLS, you need to get a new listing agreement with the seller.
- There is no set period of time you have to wait after the current listing is canceled before you relist the property AS LONG AS you have a new, fully executed listing agreement for the new listing. You could literally relist the property the same day the current listing is canceled IF you have the proper paperwork.
- The days on market (DOM) will automatically reset to 0 for the new listing (as it does with all new listings).
- The cumulative days on market (CDOM) will reset to 0 IF there is a 90+ day gap in between when the most recent listing is canceled and the new one is entered. If there is less than 90 days in between, the CDOM from the previous listing will add on to the new one.
- The expedite the process, you can use Matrix's clone feature to copy over the listing data and photos (provided you are still with the same organization as you were when the property was previously listed).