I've been wanting to do a statistical analysis of limited service listings compared to full-service listings for a while now.  I wanted to compare the 2 for listed vs. sold ratio, days on market, and sold price.  So today I did a very "unscientific" analysis by performing searches in our local MLS.

I did a search of 6 Florida counties surrounding Orlando - Lake, Orange, Osceola, Polk, Seminole, and W. Volusia Counties for the last 6 months (6/1/07 - 12/1/07). 

Honestly, the results shocked me.  I was expecting that with a full service listing you have a full-time Realtor trying to market and negotiate the listing, so the numbers would be somewhat better than having an owner handling basically everything except the MLS input.  These are the numbers I came back with after doing MLS searches and a few calculations.

Listing vs. Sold ratio:

Limited Service Listing:  559 solds out of 2,930 total listings which = 19.08% chance that a listing will sell.

Full Service Listing: 12,606 solds out of 97,054 total listings which = 12.99% chance that a listing will sell.

Actual Days on Market (ADOM):  This is a median number, I could not easily compute an average number.  It is the number of days from when a property was listed until it went sale pending.  I only used properties that sold to compute this.

Limited: 57 days on market

Full: 87 days on market

Sold Price: This is a median number also.  I only used properties under $400,000 because the computer was giving me a hard time with the search because of the 12K+ solds for the entire 6 counties.

Limited: $267,500

Full: $213,800

Again, I am still scratching my head over these numbers.  Maybe with only 2,930 limited service listings versus 97,054 full service listings that the small amount of limited service listings may skew its numbers in the better direction.  Maybe the higher chance of selling, in less days, at a better price has to do with the fact that the owner only has 1 house to sell (and can therefore focus hard to sell it) while the listing agent may have a dozen.  Maybe the higher average price is because people that choose a limited service listing are better educated or have more homeselling experience than people that choose a full service listing (and therefore own a higher priced house).  I don't know for sure, but those numbers do reveal something that few full service brokers will ever disclose to anyone.

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2007. Sand Dollar Realty Group, Inc. All rights reserved.)

Rob Arnold, ABR, CPL, GRI, Managing real estate broker, Licensed mortgage broker, Notary Public

407-389-7318 www.SDRhouses.com/

Your full service and investor friendly Realtor in Orlando. Learn to invest in Central Florida real estate and Orlando real estate. Investor mentoring and counseling available. I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central and South Florida.

We buy houses cash, sell properties, and list properties in Central Florida including Orlando, Winter Park, Maitland, College Park, Ocoee, Winter Garden, Apopka, Pine Hills, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Saint Cloud, Davenport, Winter Haven, and more. www.WeBuyHousesFlorida.com/