Average Listing Times a Drag?

Posted by Peggy Boehm on Jan 04, 2008

One of the first questions a prospective home buyer or seller asks an agent is “How long will it take to sell (and close) my home” or “how long will it take for me to buy a home and move?”

One of our jobs as a real estate agent / Realtor® is to help our clients get in sync with the market.

They look to us to help them determine when they need to list their property, or start shopping for a new home, in order for them to meet their time frame for moving.

Setting expectations as best we can helps us to not “over promise” and “under deliver.”

Unfortunately, the real estate market is out of our control, and one of our biggest challenges is that our clients’ success depends on the market, and not always our service.

At HomeGain, we track the time it takes for our home buyers and sellers to close, from the time they come on the site and complete a profile to the time they actually close, and of course are able to move.

The National Association of Realtors® recently reported there is an average home listing time of 10.8 months.

HomeGain home sellers are outpacing that time frame by quite a bit!

Our numbers reflect HomeGain home sellers are closing with our agents in approximately 6.5 months or approximately 15% longer than at the same time last year, December of ’06, when they were closing in about 5.5 months.

HomeGain homebuyers are closing with our agents in approximately 4.5 months or almost 1/3 longer than at the same time last year when they were closing in about 3.5 months.

Top Performing HomeGain agents this year are taking a little longer to close a deal for our customers, or about 6.5 months versus a total average of 6 months or 5.5% longer.

If you think about it, that makes sense.

HomeGain Top Performing real estate agents tell us they are able to hold onto their listings a little longer than average and do what it takes to get the property sold and closed without having the listings expire.

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