Ready to sell your home? Have you
chosen an agent to represent you?
How much time will you give the
agent to sell your home?
Many consumer and money magazines
offer advice for home sellers. Some say
the agent should be given only a 30 day
listing. This short time frame, they
suggest, puts pressure on the agent to
perform quickly. They don’t realize
that top agents will not subject
themselves to unreasonable listing
times. Others say 90 days is right, and
some reason that six months is fair.
These magazines simply don’t
understand that there is no such thing
as a “national” real estate market - only
thousands of “local” markets. Thus,
the right length of time in our area
depends on the average sale time in
this market only. So, how long would
that be?
When selling, ask your agent for a
detailed breakdown of sales in the
immediate area over the past year.
Compare actual selling times with
prices paid, taking into consideration
special terms and condition of the
homes. Eliminate the longest and
shortest sale time, then average the rest.
This provides the approximate sale
time required to sell a home, provided
it is in excellent condition and offered
at fair market value. Add 15-30 days to
the average sale time when listing to
provide the agent with ample time to
produce a willing, qualified buyer.
