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Friday, June 11, 2010

Days on the Market Do Not Really Matter When Selling Your House or Condo

In the real estate business folks, especially sellers, seem to have an inordinate attraction to the words “days on the market.”  You see news articles discussing the current market using average selling price and average days on the market as "the measure."

As a seller, your primary concern should not be the number of days on the market.  Have I gone astray as the purpose of having a house for sale is to sell it?

Stick with me here… Days on the market is only one measure of the process/ 

The most important measurement. in my opinion, is activity. 

As a seller I urge you to consider how often these occur....
  • Showings.  If it doesn't show, it doesn't sell!
  • Second showings.  Second showings is a good sign, a sign of real interest.
  • Requests for additional information.  A request for additional information or even the association documents is a good sign. 
  • Offers. Not all offers will be good offers but this can be realistic feedback on market efforts)
I believe there is a golden period for a listing, that period of time which the listing generates the most activity.

The most important feedback a seller can get is activity. If the activity has diminished or vanished, it is time to look at the entire marketing effort including the price. 

Don’t let your listing become stagnant, an orphan property, a comparison property used by others!

If you are considering selling your Brevard County Florida home, call me. If your Viera, Suntree or Rockledge listing has expired call me before you renew that listing agreement.

Gary L. Waters, Florida licensed real estate agent, Century 21 Baytree Realty.

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