The listing is now active on the MLS which has fed the listing to various other real estate websites. Also the agent has placed signage for the residential listing and possibly for the vacant land listing.
Time: 1 to 2 hours depending upon location and number of signs. Again travel time is not included nor the cost of the signage.
Now the waiting begins. Communication from calls, emails and texts start arriving. These contacts may want additional information or may wish to schedule a showing appointment depending upon what the sellers have agreed to within the listing agreement. During this time, the listing agent has had numerous calls with the sellers respective to the potential buyer activity.
Then there are those situations where the real estate listing agent must be present for any tours. Respective to vacant land, sometimes the listing agent must guide the buyers and their buyer’s agent to the property.
Time: 2 Hours to 20+ depending upon the real estate market inventory, price point, type of property and location. Average of 10 hours.
Often in cities, the listing agent will schedule at least one residential open house and possibly two. There are additional costs to host an open house beyond the time. In some areas, the professional real estate agent may hire another real estate agent to tour the home with the prospective buyer. Additionally, there is time invested in marketing the tour.
Time: 6 Hours with 2 Hours to market as well as to include Set up and Tear Down (signage, brochures and refreshments and 4 hours for Actual Open House Showing.
The Time Clock continues to click away. With these estimate hours of 17.5 (conservatively low) at $100 per hour or $1,750 added to the existing 13.75 hours or $1,375.00, the new total for uncompensated time is $3,125. with 31.25 hours.
The next part, 13, will identify what happens, time wise, when a professional real estate agent accepts an offer for the property.
Feature Photo Courtesy of Pixabay.com
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