Jennifer Martin

I'm very glad that this question was posted because being so new to the industry there is much I stil have to learn. I've never EVER done this with my own listings (Just want to make that clear) and must say that I'm sad for the realtors that I have seen doing this ... they've been in this business long enough to know better and I for one won't forget the input on this question. Note: I have to tell you that I have never seen anyone at my office (Century 21 Towne & Country) EVER hold onto the listings for 48 hours (but have seen at a previous agency and several competing agencies as well). Thank you for putting me on the right road. - Thu Nov 1 2007, 11:21

Carmen, You have received some wonderful input and I would simply like to add an additional perspective.

Depending on your "market" - where are the buyers coming from?
... My market (Santa Claus Indiana) is a tourist area so a large majority of our buyers are coming from out of state. These out of state buyers do not know who the "Top Dog" is so they of course get their information via the internet.

So depending on your market and where the majority of the buyers are coming from you may want to focus on an agent that has a strong internet presence vs. basing your decision from a local point of view.
Good Luck to you! - Thu Nov 1 2007, 06:20

In Indiana I have seen "Bridge Loans" being utilized. They cover a "lag-time" between the sale of one property and the purchase of another but usually carry a pretty high interest rate and are intended to be short term (up to 1 year). You may want to get your home on the market paying close attention to effective pricing and offer an eye-catching incentive to the buyer's agent. If a buyer's agent sees they can earn a higher commission from selling your home then they will absolutely show it to more buyers!
Limit the listing contract to 3 months and/or don't be afraid to request a No-Strings-Attached clause (I use this for all of my listings - the seller can fire me if I am not doing my job). The link provided gives you more information on these kinds of loan options. Good Luck to you. - Tue Oct 30 2007, 17:34