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Are you using the average days on market to get business? Are you lying?

 

I keep seeing reports that the average days on market in my area is about 174 days. I went on a listing appointment the other day and the person asked me what my average days on the market was.

I asked, “Why do you feelt hat is important?” She said, “Because the last person I interviewed said her average days on the market was only 102.” At this point I thought for a second and then asked a couple questions. The first question I asked was, “So, did she tell you how many short sale listings she has? Did she tell you what the average days on the market was for homes that don’t include short sales?”

inflated chart

The person just looked at meand said, “Is that important?” I said, “It is if the average days on market for an agent is.” I then said, “My average days on market for homes I have listed is right around 145 days, but I list short sales. But, if you take my shortsales out of the equation, my average days on market 73 for the homes I hav esold. So, do you think knowing the answer to those questions is important?”

She then asked, “Where do I sign?”

So, are you telling the truth when you give your sales figures or are you working the numbers to make yourself look better? If you are working the numbers, you better hope someone like me doesn’t follow you as I will expose your numbers!

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Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

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Comment balloon 16 commentsRespect Realty LLC • June 17 2009 08:34PM

Comments

Way to be on top of your game.  I beat if the seller called and asked the last agent her stats without short sales she probably wouldn't be able to give an immediate response, most likely to focused on that 102.  Congrats.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 11 years ago

I also list new construction where homes go on and off the market depending on what the builder requests.  Another agent might try to say hey look she has a lot of homes that don't sell.  Yet in realty the homes do sell they just float on and off the MLS.  Fortunately I can explain it and show the numbers but it certainly does skew a sales report.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) over 11 years ago

I love splirting out stats when a seller has heard something else from another person.  Too many people have no clue how to back up their numbers with facts.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago

Todd,

I'd say you turned that question around to show you are a pro! Congrats on a getting the listing!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker Realty ~ 512.750.6899) over 11 years ago

Good job of explaining the numbers and congratulations on getting the listing, Todd. 

Posted by Shirley Parks, Broker, 210-414-0966, San Antonio TX Real Estate (Sands Realty 210-414-0966) over 11 years ago

Don't mess around with Todd!  I have a very good track record of winning the listing when I am competing for it, but then, I have never had to compete with you, have I!

Posted by Janna Scharf, Coeur d'Alene Idaho Real Estate Expert (Keller Williams Realty Coeur d'Alene) over 11 years ago

Educating our cleints is probably one of the most important things we do! Thats for sure!

Posted by Liz Moras Migic, Chilliwack, British Columbia - Realtor over 11 years ago

I really lose respect for agents who use stats to prove something - if they are not qualifying the stats.

Tell the whole story.  When you do, people will respect your opinion much more.

Posted by Virginia Hepp - Mesquite NV REALTOR, Mesquite NV Homes and Neighborhoods - Search MLS (Desert Gold Realty - Mesquite NV Homes For Sale) over 11 years ago

Nice response. I haven't run across that one yet. I guess my question back would have been something like, "Do you want to price your home ahead of the market, or do you really think that the granite tile counter tops add $30,000 to the value of your home?"

I would ten decide whether or not I wnat them as a client.

Posted by Mark Hall, Homes for Sale Vancouver Washington (Realty One Group Cascadia) over 11 years ago

Todd, you are simply a heavy hitter:  always batting clean up.  No surprise there.

Posted by Jim Hale, Eugene Oregon's Best Home Search Website (ACTIONAGENTS.NET) over 11 years ago

Todd, it always amazes me that someone uses stats that they know if someone askes the right questions will get them in trouble. You were smart enough to see through the other agents lies and hopefully took the listing. 

Posted by George & Arlene Paukert (Road to Wealth, Inc.) over 11 years ago

Todd --- thank goodness for smart real estate professionals like you ---- unfortunately, some real estate agents do tell lies when it suits their needs.

Mama Liz's Signature

Posted by Liz Loadholt, Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC (Liz Loadholt- AgentOwned Realty- Covering SC) over 11 years ago

Todd, it's good to separate the short sales and REOs into separate categories, they truly are different.  Unfortunately they make up 90% of our market here in CA.  Only 10% are regular sales.

Posted by Regina P. Brown, M.B.A., Broker, Instructor (MBA Broker Consultants) over 11 years ago

You handled that situation well.  Way to go!!  It is a great reminder fo Realtors to know our stats (the real ones) and be prepared like you were.  I'm glad that you got the listing. 

Posted by Vicki Pedersen, Providing Exceptional Real Estate Service (Pedersen Real Estate) over 11 years ago

Todd, absolutely way to approach this query.  It just really "depends" on where, price range, and type of transaction. Looking forward, by the way, to seeing photos of the BIG event. ;-)

Posted by Mesa, Arizona Real Estate Mesa Arizona Realtor, AzLadyInRed (Homes Arizona Real Estate LLC) over 11 years ago

Todd,

Great that you knew your numbers, so important.  Skewing facts will come back to haunt, so you are right, keep it on the up and up.

Posted by Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant (Real Skillz-Clear Marketing for Your Real Estate Vision) about 11 years ago

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