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Years on Market Vs. Days on Market! No Excuses!

I just did a CMA presentation this morning for a potential home seller in the Atlanta area. Nothing has sold in the subdivision since last October. Even a recent agents mailing into the subdivision, had "0" Recent Sales on the post card. Well one of the recent comps I was surprised had finally sold after 1117 Days on Market! Wow! Why not 3 years? Or Years On Market YOM! Think of all the numbers we could save! I was very familiar with the property, and had shown it many times a few years back. The interesting thing was... nothing wrong with the home. No structural issues, priced right etc. The one problem was getting information from the agent. Totally unresponsive, so we moved on...with many buyers we did the same thing. Oh one last thing, did I tell you it was OWNER/ AGENT? In my own opinion this was a home that could have sold in 30 days at any given time!

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 06/21/2008 11:52 AM

Comments (32)

days on market, time to sell, selling a home, listing period, real estate marketing, real estate sales, listing agents

Originally posted at: Atlanta Real Estate | Atlanta Housing News for Real Estate: Years on Market Vs. Days on Market! No Excuses!

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32 Comments on Years on Market Vs. Days on Market! No Excuses!

JUN

2008

Jim that is too funny, It begs the question how well does this agent do with their clients listings. Man if it took that long to sell his/her own house who would list with him/her to sell their home?. Steve

Wow! We realtors can be our own worst enemies. I find it humorous that most realtor homes in my area are priced above comps... as though their home is the exception!

What? That is crazy and goes to show that a bad listing/agent can't sell the home! That is funny and I hope you got the listing! Kathy is correct - realtors think their homes are "special" and are priced over comps! I've noticed that too!

Jim, sometimes on Owner/Agent they say it is best if another agent handles the house. Your example, at least in this instance, proved that this owner did not represent themselves well.

Sounds like the listing agent needs to find another job. He did his seller such an injustice.

Alpine Lakes Real Estate It brings to mind hte old saying.."Physician heal thyself!" When I talked to my wife,we both agreed that is not counting the times it expired and was withdrawn. We both said it must have been on the market over 5 years! I showed the home at least 6 times over the years, and can date my showings to the clients I was working at the time. Now I know how sayings like "What the Heck?" get started!

Kathy Anderson - Sun City Grand Real Estate (Ken Meade Realty) In Atlanta a lot of the owner/agent's homes have slipped into foreclosure. A lot of real estate is based in objectivity, not letting our emotions take over.

LaNita Cates (REMAX of Joliet) I did not push the listing, it has to be priced right. I based my opinions on the facts before me, and told the would be sellers they were going to be out of pocket for commission, 5K in price and pay buyers closing costs. I left them the option to sell it themselves.

Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty) I've sold 2 homes ourselves without another agent involved.

Bob Cumiskey, US Army Retired, Your Sun City Center, Florida ~ Realtor (A 1 Connection Realty, Inc.) Some folks are their own worse enemies.

Jim, I think its a case of how they say doctors make the worst patients... I think Realtors make the worst clients. LOL I was looking in our MLS the other day and I noticed the majority of the expired homes were realtor owned! You're right when you say it makes you wonder how the clients are represented.

Huntsville Alabama Real Estate Agent, Kimberly Grant (Exit Leon Crawford Realty) Isn't it scary?

I've also heard that doctors make the worst patients... maybe the same thing holds true when an agent sells there own home.

AJ & Jodee Heidmann (Coldwell Banker Residential Brokerage) That is probably very true. Before I've ever attempted to sell my home, I've always invite in my most trusted real estate friends and ask for their blunt opinions. I aks them to hold back nothing, and that whatever they say will not bother me personally. I've always found this a great excercise, even if it means taking them to a free lunch afterwards!

Maybe the listing agent is just looking for new buyers and is using his house as "bait". I know there is one house which has been on the market in our area for two years which is an agent/owner.

YOM?! That's rich. "Realtor, sell thy own home" It's sad the house wasn't selling due to the agent and not the market value... that's pretty sad if you ask me.

I agree with James. It is like a free open house... the realtor either finds a buyer willing to pay over market for the realtors house or finds a buyer he/she can represent to buy another home and make a commission!

JUN

2008

Stubborn seller/agent is right. Agnets with that mentality should know better. How could you ever represent another seller well if you can't take your own advise.

James Lockard - Realtor, Allendale, NJ (RE/MAX Properties - Saddle River) No, the seller is basically a non producer.

Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - ) Sad and lame at the same time! I think it is a very bad reflection on the listing agent.

Owner/ agent, well if he treats his own home that way imagine how he treats his clients, wonder that the agent is still around.

Phil You give them too much credit! It sold what it was basically listed for in the last several years.

Tina Maraj Shah Realtor It is almost unbelieveable!

BART WHITMORE REAL ESTATE CONSULTANT (THE REALTY MARKETPLACE) Oh yeah! Kind of scary isn't it? Do you need a Realtor? LOL!

JUN

2008

Jim,

Most times in our MLS the DOM's are not accurate and that makes the CMA not accurate as well. When they relist it or make status cahnges such as changing Realtors(R) the DOM's goes back to zero so sometimes it misrepresents how long the listing was actually on the market. It could be list by 7 different agents for short periods but truly it could be listed for two years.

Does seem excessive...or not motivated? Personally I prefer to have another agent represent me... liability for one, and unbiased for another.

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) It could be the same here, but this is what it was! Also did not include a number of expireds and withdrawns that have also long since been purged from the system! I suspect the home was on market for almost 4.5 years!

Perrin Cornell, ABR (Windermere RE/NCW) It is excessive, and we will never know or understand the reasoning here. As far as the other agent...this is not an endorsement of that idea. Lame if you ask me.

JUN

2008

I tried to show a home over the weekend that was over a YOM (love the term). The voice mail for the agent said that he was in the UK, I called his office, only to find out that he was a "one man show" and left a message there. He called me back late yesterday... I told him that we had just executed an offer on another property... Sometimes agents get in the way of their own success.

Debbie Summers, Seminole County Real Estate (RE/MAX Central Realty Lake Mary, FL) LOL! YOM may become a new term! LOL! I totally agree! In England? WOW!

JUN

2008

That is a long time! That is unfortunate the reason it probably took so long to sell was due to the agent!!

Colorado Springs Realty Patricia Beck (Prudential Professional Realtors, GRI) I think so, the other agent was asleep at the wheel. The price was right, the home showed well, clean, no pets, no clutter, no visable structual issues, no visable objections...the other agent just never got back to us in any timely fashion.

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