We had a little poll in our sales meeting today, and we tossed the question around of how many properties are “listed” on the MLS and how many properties are actually “for sale”
Let me clarify the difference.
Properties that are “listed” are simply on the MLS at price points that are not in line with today’s economic conditions. Those are typically sellers that are not motivated, and would sell their home if the right offer comes along. These listings sit on the market for months, or even years, and receive very few showings.
Properties “for sale” are exactly that, they are FOR SALE!
They are listed at a price point that sees tons of showing activity, and will be bought within the first 30-60 days of marketing. Keep in mind that these properties are selling within 8 percent or less of list price. We see many list price, over list price, and multiple offer sales these days.
Take a look at this breakdown we call “The Pond”. The properties listed in the “Flow” Section are For Sale. The Properties in the “Show” and “Stagnant Mass” Sections reflect the inventory that just sits on the market. Unfortunately for value oriented buyers, there are quite a few of these properties that are just listed, instead of for sale.
To get a property that is “for sale”, you must be prepared to act, and sometimes on a moments notice. Have your financing in place, and if you need to see the property from afar, be flexible with your travel plans. Properties that are “for sale” will not be properties to write low-ball offers on, they will sell close to asking price. Properties that are for sale are typically great properties, and in great locations.
Keep an eye out for a list of propeties “For Sale” on Wednesday!
If you have any questions, or would like to schedule an appointment with me, please contact me at firstname.lastname@example.org or 435.901.4309.
More on Wednesday!
Have a Nice Day!
Accredited Buyer Representative