Series: SELLING – how much activity should I be getting? How long will it take?

A buyer passively considers a move for about 6 months. Then, actively shops on average 30-45 days for a home. What does this mean? You’ll get lots of looks from that 1st group asap but they’ll never set appointments. Then, you’ll get a lot of appointments in the first few days – these are the folks that have been looking 30-45 days. After that, they will trickle in only with about 1/30th to 1/45th of the same interest as you had those first few days.

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“Wow, I got lots of showings but no offers!” Possible reasons: You are the ‘early house’ on a 3 home tour. The best is usually the last shown.

“Wow, I had a lot of looks online, but no showings!” Read on my friend…….

How long should property be on market?
- You’re agent give you this info with the CMA report. It will differ based on season and how unique your property is. If you don’t give the agent a good amount of time to ‘develop’ the marketing, testing various approaches against each other, don’t expect their best in return.
How many ‘looks’ should I get?
- Once the listing goes out to the public, its not just looks, but ‘lingers’ that you want. The back end stats will give your marketing expert details not seen out front. The magazine sites that purchase listing databases…they’ll show so some of this, but you won’t know who looked, motive, where they initially saw the offering, or why they are looking.
When should I be getting showings?
- Online looks are a type of showing. Based on where they see your property and how/ where (online) they came to ‘look deeper’, they may or may not become physical showings. If you have a good number of looks from active marketing efforts – not just ‘lookey looks’ – you should have in person shows w/in 10% of the total marketing time being allowed (see #1).
When should I get offers?
- After 7-10 showings or 25% of total marketing time being allowed.
What to do to expedite the process?
- The more a listing MLS data is changed, the more you’ll look desperate. Carefully consider whether quick sell or highest price is of more importance – from the outset – lest those ‘days on market’ and ‘price change’ details start to scream out. Bad: rushing to market w/o preparing the staging looks all over the inside/ decorative highlights on on the porches/ decks, etc outside/ and honestly setting a price … that you would pay to buy it back from the lookers that won’t place an offer.
When to reassess:
- Depending on how highest goal: quick sell vs high price, usually reassessments are made at the intervals noted below:
  - If no showings: w/in 10% of the total marketing time being allowed. (eg: 180 days listing = 18 days)
  - If no offers: after 7-10 showings or 25% of total marketing time being allowed. (eg: 180 day listing = 45 days)
  - At each 1/3 of marketing time being allowed or every 30 days. See ‘More’ articles for ideas, but look at cleanliness, decor IN & OUT, pricing against comps. (eg: 180 day listing = 60 days)
More advertising will only hurt a listing making it stale and stigmatized if its not priced right and shows well … the first time.

MY HOUSE SOLD IN A DAY ~ IT MUST HAVE BEEN TOO CHEAP!

Seriously? One day one you had 6 months worth of lookers, 30-45 days of shoppers. If you 1. did your part to stage it, 2. the agent did their part to expose it with ‘a full deck of cards‘ on day one, and 3. you worked honestly together to nail down a price that is competitive, then this is your best expectation come to fruition.

OLD LISTINGS GET STALE AND SELL FOR LESS!

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