How Long Will It Take To Sell My Property?

Hi. I'm Rebecca Brooks, Broker I've been representing Sellers in the San Francisco, Marin, East Bay and North Bay markets for over 25 years. My most recent past 10 transactions have all been listings - meaning, I've represented Sellers - with many of these clients being out-of-the-area, out-of-state or out-of-the-country. One question that Sellers always ask me is 'How Quickly Will My Home Sell?" Everyone knows that a big factor in the decision to sell your home, condo or investment property is going to involve timing. How long will you have to move out? How long will the tenants have to move out? If you're doing a 1031 Exchange, how long until you can shop for your replacement property? Every agent can take a look at the MLS and quote you the average Days on Market statistic for typical homes in your area. That's a good place to start.... But how long it might take to sell YOUR property will depend on a combination of different factors. Here are a few basic things that you are going to want to take a look at; I call them the "Four P's:" #1 and probably the most important: PULSE. The pulse of the market means - what are market conditions in general. How is the market feeling? Are things selling quickly? or are Buyers taking longer to make decisions? What type of property is selling faster? Where are the hot neighborhoods? What are interest rates doing? If the interest rates go up, the buyer's borrowing power, and therefore their BUYING power, may go down....So buyers may become more careful with their choices. As an agent, it's my job to keep my finger on the pulse of the market; while I'm out previewing properties, I'm also chatting with my colleagues and asking them about the level of activity on their listings. Be sure that you choose to work with a LOCAL, active full-time agent who is familiar with the comparable sales and who can get a 'feel' for the pulse of the market. #2 PRICING - I can't say enough about making sure that your property is correctly priced! Sellers should be sure that their listing agent is sharing details about competing listings, recently closed properties (what we call 'comps') so that you are able to determine the correct asking price that will generate the most traffic through your property. Most agents will give a range of where they suggest you list your property. If possible, resist the urge to price it too high....Many Sellers want to 'start high to leave room to negotiate' but in some markets, this plan may backfire if the level of interest isn't what you expected and you have to do a price adjustment after a few weeks of no activity. #3 PREPARATION - Getting your property ready; this seems like a no-brainer, however many Sellers find it challenging to evaluate their preparation needs; or maybe they just don't know how to start. Your agent will be able to guide you and suggest ideas on how to best prepare your property, whether it's suggesting de-cluttering, painting, staging, landscaping, etc. Remember, this is what we do for a living; we have many vendors and service providers that we work with on a regular basis. I have a 'little black book' of professionals that I've worked with for over 20 years. Let us help you get things done. #4 PRESENTATION! and by presentation, I mean presentation to the public, to the potential Buyers who are shopping. What is the marketing plan to get your property in front of potential buyers? What does your advertising plan include? You need an agent who has strong marketing skills and who utilizes the technology tools that are available to us today. You want to be sure to use a highly experienced agent who has top notch marketing plan; this should include professional photography, full-color brochures, walk-through videos, floorplans, aerial drone videos if applicable, social media postings, ad campaigns to local brokerages, text and email campaigns to buyers, open houses, broker tours, and anything else that would help to get maximum exposure for your property. So there you go: when you are wondering how quickly your home or property might sell, be sure to hire an agent who has a handle on a the "Four P's" - Pulse Pricing Preparation Presentation Make sure the agent that you're working with knows the market conditions well enough and is experienced enough to suggest proper pricing and has the local vendor connections to guide you through any necessary preparations and has the marketing skills to highlight your listing on the internet, social media, and industry websites. If you'd like more detailed information regarding the local real estate market in your town, please reach out to me, I am happy to talk about comparable listings and recently sold homes. Use the links here to connect with me on social media, and sign up for my monthly real estate market updates and newsletters. And just because I am a huge reader and a big fan of alliteration, and since we're on the subject of good qualities that a real estate agent needs to have that start with the letter "P" - be sure to watch my next video, where I'll list a few other traits that we need to have: professionalism productivity being proactive just to name a few.... Thanks for watching!