We are now 10 for 10 in getting an accepted offer for our single family home listings within the first 30 days of going on the market.
930RunningStag.com was on the market for 5 days.
180AspenSt.com was on the market for 12 days.
5550Traffic.com Unit #9 was on the market for 10 days. We previously put unit #12 into escrow.
For the 930 Running Stag website, we’ve had 297 unique visitors to it as of yesterday. Since we only created that website last Friday and it went live on the Internet on Friday night, we’re pretty happy that we are able to drive 297 people to it within the first week the home was on the market! The 180 Aspen website has received 439 unique visitors since it went live on 9/27.
We challenge any other agent or broker on the Central Coast to show that they can get as much targeted exposure for a listing than we can. We spend a lot of time to get a property on the market, averaging over 12 hours per listing to do the photography, video, websites, and launch promotions. Most agents spend less than an hour on the marketing of a new listing. Our 10 for 10 record shows that what we do makes a difference! The presentation and exposure of your home listing is a marketing service you are paying for in the commission you give a listing agent. If you aren’t receiving a great service, why would you want to pay for it in the commission an agent charges you? Actually, the question you should be asking is why you wouldn’t want a Listing Agent that can give you the best presentation and exposure?
Getting your home sold at the best price is what every seller wants. Having your home sit on the market drastically reduces this goal. If the market is declining, you lose money as it sits. Also, the longer a home sits on the market, the lower the list price-to-sale price percentage as I’ve shown in the past with MLS stats. Having a high Days on Market (DOM) on your listing isn’t the best for a getting a Buyer to pay top dollar. The best chance for top dollar is to make a big splash when it goes on the market with plenty of exposure to hopefully get multiple Buyers interested.
Here’s an example of the cost to sell a home. Say you list your home at $500,000 and give the Listing Agent 5% total (2.5% for listing agent, 2.5% for selling agent). For the listing agent’s service, you would be paying them $12,500 to sell your home. Now say your home is on the market for 90 days and you’ve lost 2% in value, or $10,000 and you then sell. The Listing Agent has now cost you almost $22,500 (which works out to be 4.5%, a big jump from the original 2.5%).
Don’t get too hung up in comparing commission percentages between listing agent services. Trying to get another 1/4 percent of commission lowered from an agent that spends less than an hour on the marketing of a new listing really isn’t going to help get more money in your pocket.