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

By
Real Estate Agent with Crye-Leike REALTORS® 165062

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!

Posted by

James Crawford ABR, Broker Associate

 

 

 

 

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Rainmaker
507,784
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

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

Jun 21, 2008 09:32 AM #13
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

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!

Jun 21, 2008 10:40 AM #14
Rainmaker
124,734
James Lockard
RE/MAX Properties - Saddle River - Allendale, NJ
Realtor, Allendale, NJ

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.

Jun 21, 2008 10:45 AM #15
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Jesse & Kathy Clifton
Jesse Clifton & Associates, REALTORS® - Fairbanks, AK
Retired

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.

Jun 21, 2008 11:44 AM #16
Anonymous
Phil

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 21, 2008 02:04 PM #17
Rainmaker
286,522
Tina Maraj
RE/MAX Cornerstone - Fullerton, CA
Top Agent in Fullerton 2016-2018 714-403-7901

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.

Jun 22, 2008 04:51 AM #18
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Jun 22, 2008 04:59 AM #19
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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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.

Jun 22, 2008 05:01 AM #20
Rainer
62,465
Bart Whitmore
Keller Williams- Louisville - Louisville, KY
Real Estate 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.

Jun 22, 2008 05:01 AM #21
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Phil  You give them too much credit!  It sold what it was basically listed for in the last several years.

Jun 22, 2008 05:02 AM #22
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Jim Crawford
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Tina Maraj Shah Realtor   It is almost unbelieveable!

Jun 22, 2008 05:03 AM #23
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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BART WHITMORE REAL ESTATE CONSULTANT (THE REALTY MARKETPLACE)  Oh yeah!  Kind of scary isn't it?  Do you need a Realtor?  LOL!

Jun 22, 2008 05:04 AM #24
Rainmaker
593,157
Neal Bloom
Brokered by eXp Realty LLC - Weston, FL
Realtor CRS-Weston FL Real Estate

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.

Jun 23, 2008 01:11 AM #25
Rainmaker
134,049
J Perrin Cornell
Century 21 Exclusively, Wenatchee, WA - Wenatchee, WA
Broker, ABR, VAMRES

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

Jun 23, 2008 01:27 AM #26
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

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!

Jun 23, 2008 01:45 AM #27
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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 23, 2008 01:46 AM #28
Rainmaker
236,392
Debbie Summers
Charles Rutenberg Realty - New Smyrna Beach, FL

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. 

Jun 23, 2008 11:44 PM #29
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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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 24, 2008 12:40 AM #30
Rainmaker
234,025
Patricia Beck
RE/MAX Properties, Inc., GRI, CDPE - Colorado Springs, CO
Colorado Springs Realty

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

Jun 25, 2008 01:18 AM #31
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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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.

Jun 25, 2008 02:54 AM #32
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