Frank K, Home Seller in 33076

selling your home, most agents say the the most activity comes within the first 30 to 45 days

Asked by Frank K, 33076 Fri Sep 21, 2012

If tht is the case why do all agents insist on a 3 to 6 month contract.

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Answers

6
The agent is correct, the most activity does occur during the first weeks of a listing.
However to sell a home, there are other elements.
#1. The seller, according to list price statistics, will invariably overprice the home by 30%. Common statement from a seller would be, "Let's try it for a while at this price."
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#2. By the time the home owner realizes the agents pricing strategy was correct, the horse has left the barn. The motivated buyers of the first few weeks have dismissed the home as overpriced and the seller unwilling to negotiate, after all they didn't listen to their agent. (Agents know better, buyers do not)
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#3. The agent must now place the listing on life-support to attract buyers to the listing, even after a price reduction.
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#4. Buyer are now believing 'Something is wrong with the house since it's been on the market for more that 45 days.
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You can be sure, if you cooperate with your listing agent, you can get a shorter duration of a listing contract. Be aware, the agent must spend their resources whether the home sells or not. If the typical scenario plays our, the agent's cost is higher and outcome much less certain.
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There are consequences to attempting to sell a home in defiance of data and recommendation of the professionals involved. Sellers have many, many options. They, however, can sabotage each and everyone of them by believing they can impose their will on the market. How long ti takes for the education process to complete will hopefully be less than the listing agreement duration.
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Are you ready to sell your Coral Springs home?
2 votes Thank Flag Link Fri Sep 21, 2012
Good Morning Frank,

The first thing I would say is, don't confuse activity with a contract. It is true that any home tends to see the most traffic in that first 30 days. However, if a home isn't prices right, in the condition it should be given that price, or a host of other factors, that traffic may not translate into an offer.
From that point, a good Realtor will discuss what may need to be adjusted with a seller.

Secondly, in this lending environment, it's not uncommon for a buyer to have issues with their loan or appraisal. Again, this can lengthen the listing period.

Couple all of that with the fact that a good listing Realtor will be spending their own money up front to market your home. Most people may not realize that a listing may initially cost a Realtor several hundred dollars to market. In return, that Realtor is only asking for a fair amount of time to navigate today's real estate environment with you, and successfully sell your home.

I hope this helps.

Pat Palmer-Realtor
Boca's Best Broker

Direct 786-286-6557

Keller Williams
2424 N. Federal Hwy #318
Boca Raton, FL 33431
2 votes Thank Flag Link Fri Sep 21, 2012
Hello Frank,

When a house is first listed, it attracts more attention because it is new to the market, some Realtors are probably keeping an eye in the area for his/her buyers, so the tendency is for the active buyers to go and see the property right after it is listed.

Some homes do sell right away, specially if the price is attractive and the house shows well. Some homes will require more effort, more advertising, price adjustments and time. Start up homes also sell faster than luxury homes, in general. The listing agent will invest time and money to market the home, so a 3 to 6 months contract is not unreasonable at all. Believe me, Realtors want to sell homes fast!

If I can be of service to you, please contact me at the number below.

Have a wonderful weekend!

Ana Tenaglia
Realtor Associate
Keyes Company
Coral Springs/Parkland Office
Cell.: (954)629-1590
AnaTenaglia@Keyes.com

Hablo Espanol - Falo Portugues
1 vote Thank Flag Link Fri Sep 21, 2012
Because MOST sellers will ask, at least to start with, for a higher asking price than what the listing Realtor will recommend...
With enthusiasm,,
Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!

Direct phone# 954-338-5220 http://www.WeSellBroward.com

All Star Realty Inc.
0 votes Thank Flag Link Sun Oct 21, 2012
The first month or two is the most active time for a new listing but that doesn't mean your house will have activity at other times. What is important if you don't get it sold during the first two months is to have your realtor keep her marketing up to date and continuous, open houses may help, update photos as the seasons may change and definitely be aware of sold comps at all times in case your home requires a price adjustment. Also, you can help your realtor from day 1 of the listing - declutter, have the house looking great and your establish great curb appeal - grass cut, some fresh fall flowers in the garden or in pots that makes buyers feel - yes I want to see this house! It is a team effort to get a house sold! Good luck.
0 votes Thank Flag Link Fri Sep 21, 2012
I agree that the most activity comes when the home is new on the market. If you are looking to buy or sell in Coral Springs let me know and I will put you in touch with an excellent real estate agent. She just assisted a family member for me and I was truly amazed at how hard she worked to get the job done.
0 votes Thank Flag Link Fri Sep 21, 2012
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