Median Days to Sell has nearly DOUBLED from August 2021 to August 2022. From 9 days in 2021 to 17 days in 2022, a statistic like that could alarm a home seller who is coming to market soon. One of the effects of rising mortgage interest rates and the widespread inflation is that homes are sitting on the market for longer. Let’s note that homes are still on the market for about 2 and a half weeks — not 7 weeks or more — but compared to last year’s frenetic speed, this can seem like a long time.
3 THINGS TO AVOID YOUR HOME SITTING ON THE MARKET
Here is our secret recipe of the 3 things to do so that your home doesn’t sit on the market.
HIRE THE RIGHT REAL ESTATE AGENT
1. Hire the right real estate agent (that would be me). I will never just talk with you once before the listing, put the property in the MLS, and then ghost you. I am involved in the entire listing and escrow until Closing Day. My phone is an open line of communication and if we don’t see the response early on, then we can pivot.
2. Price appropriately for market trends and the condition of your home (this isn’t a science, but we will discuss my pricing strategy in depth at our listing consultation). Strategic pricing + a comprehensive marketing plan will maximize the eyes on your home.
REVIEW ALL AND ANY OFFERS
3. Review any offers with an open mind. An offer in hand (or your inbox) is worth reviewing. Holding out for a unicorn “best” offer in a transitory market can be a risky decision because you don’t know whether home buyer demand will increase as time goes on or if economic forces outside your control will impact the response.
If you, a friend or family member, is considering selling, then go ahead and forward this email to them. We would love to help them!