How Long of a Listing Should Your Agent Expect to Take?As you will see the way to determine how long to list your home for is according to the market. So really although it is up to you to choose, you should be sure you are basing your decision on solid facts! In today's market it takes more than listing your home on MLS get it to the closing table. You need an agent that is actively marketing your home in all venues internet presence, direct mail and open houses are just some of what needs to be done. For today's market you should be listing your home with an agent for atleast 180 days, with the option to be released if they are not doing all that they agreed to do to market your home.
Coldwell Banker Residential Brokerage does offer you this gurantee, if we are not doing everything we agreed to do, we will release you from the contract with us at anytime!
Reasons for a 30-Day Listing
- If your market is steaming hot and homes are flying into pending status within days, your agent might be agreeable to a 30-day listing.
- This way, if every other home on your street is selling within three weeks and yours is still sitting without an offer on day 29, you can easily get rid of your agent and hire somebody else.
- Before you refuse to relist with your agent, though, first look at the price. If your price is too high, no agent is going to sell it.
- In normal markets, 90-day listings are more common.
- During the first 30 days, you should get a lot of showings if you are priced right.
- Ask your agent for buyer feedback and follow up on suggestions to improve the condition of your home and / or price.
- If the average DOM exceeds two months, you're probably trying to sell in a buyer's market and will need a longer listing term.
- If you go into contract on a 90-day listing, your listing might expire while in escrow. In that event, your agent may require that you extend the listing, so it makes more sense to start out with a 180-day listing.
- Ask your agent when you initially sign the six-month listing if the agent will give you a personal guarantee that you can cancel at the end of 90 days if you are unhappy. If the agent won't give you that guarantee, then list with an agent who has more confidence to make you that offer.
- If you live out in the boondocks where nothing ever sells under one year, then a 360-day listing might be the norm in your area.
- Unique properties, large parcels and expensive estates might take longer to sell because they may appeal to a limited number of buyers.
- Private islands and lavish vacation homes require a longer marketing time, and agents might not be willing to shell out the big marketing bucks for a short-term listing.