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Old 10-15-2007, 01:09 PM
 
Location: Albuquerque
7 posts, read 24,850 times
Reputation: 11

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I hear people (such as bankers) say that if a house doesn't sell in 90 days it is time to change Realtors.

What is normal in your area?

Thanks
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Old 10-15-2007, 01:13 PM
 
Location: Albuquerque
7 posts, read 24,850 times
Reputation: 11
How funny that two of us have the same question at the same time. Maybe it is a slower maket than we thought.
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Old 10-15-2007, 01:33 PM
 
Location: Marion, IN
8,189 posts, read 31,242,333 times
Reputation: 7344
I have a friend who has had her place on the market for just over 2 years. She has been through 5 Realtors. The place has had a few showings, but only one offensively lowball offer. That 90 day junk may have been reasonable at one time, but not in today's market.
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Old 10-15-2007, 07:58 PM
 
Location: Virginia Beach, VA
2,124 posts, read 8,844,683 times
Reputation: 818
I think it only fair to check avg. DOM (days on market) for sales in your area. For us, avg. DOM is over 100 days. If I take a 3 month listing, and plow a bunch of money into, I probably won't recoup my money, through no fault of my own. Plus sellers are having a hard time understanding the market and getting their homes priced right at the beginning of the listing.

Right now, I am not taking any listing that is over priced or for less than 6 months. I need to make sure that I have an opportunity to sell the property.

Shelly
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Old 10-15-2007, 08:28 PM
 
Location: Olympia
1,024 posts, read 4,140,609 times
Reputation: 846
The amount of days your home has been on the market may have nothing to do with your Realtor. It may just be normal for homes in your area to be on the market for more than three months right now, or the home might be over-priced, or may not compete well with other listings based on the conditions (hypothetical - your home might be lovely).
If you feel your Realtor is not doing everything he/she could to properly and effectively market your home, despite market pricing, good showing condition and curb appeal then it's time to have a talk with him/her.

Sandy
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Old 10-16-2007, 06:33 AM
 
Location: Worldwide
412 posts, read 1,028,892 times
Reputation: 322
In today's market 90 days is a speed bump. Homes that hit the market that are priced way below the rest of the market in value are getting the offers. The bankers are hoping for this so they don't have to look at another foreclosurer so it's a bit unfair for a banker to suggest that an agent isn't doing the best job possible. Just a goofy market that everyone is expierencing.
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