Hi everyone. This is your Tampa Bay Realtor Lance Mohr and in this video I
want to talk about the sales price versus the days in the market in other
words how long is your home been in the market or all right I remember over 20
years ago when I first got into this business I've always heard the longer a
home sits on the market the less money the seller will get so is that truth or
is it a myth and I'll just get straight to the point it's the truth and there's
three reasons why I say that reason number one every single year since
before I got into real estate the National Association of Realtors has
been taking surveys in every single year they state this so statistically it's
just true the longer a home stays on the market the less money a seller will
actually get from bear market value not from what they listed it for but for
fair market value the second reason I say this is just from being in the
business so long from working with so many buyers so many sellers this is
absolutely true I see it over and over again that's why I tell every seller you
don't want to rush into a sale but you have to sell with a sense of urgency a
lot of people say well I'm not really in a hurry to get my home salt but you
don't want it sitting on the market because when buyers come to your home
and they see a home's that's normally selling in your neighborhood
from maybe one week to four weeks and all the Sun years has been on for three
months or four months you're not gonna get as much money and this leads me to
the third reason it's just common sense if you go out there and you look at
homes and you're a buyer and you like a home and it's been on the market like
two or three days there probably isn't much negotiating room in it I'm not
saying there won't be but chances are sellers tend to think and you probably
know this if you're a seller well I just got an offer in three days I'm gonna
continue to get offers and it's the same thing if it's been on
the market a week or two weeks it really depends what the markets like in your
area and how fast homes are selling in that area sometimes I'll go out and I'll
look at $150,000 home in an area and they're all selling what they know
within one or two or three weeks but then here's a home that's been on the
market for 50 days and the buyer just says what's wrong with it why doesn't
anybody want it they don't understand the seller started off at 180,000
lowered it to 170 then 160 now it's at fair market value at 150 and this goes
for any price range now obviously the higher the price of
the home the longer it's generally going to take you can't say a home that you
know it's been on the market for at least an hour market in Tampa if a
$500,000 home has been on the market 30 days that isn't a super long time for a
$500,000 home even though the market is extremely tight and that higher price
bracket but if I get a home in it's a hundred and twenty thousand and it's not
under contract within a week in this market there's something seriously wrong
with it so again at the end of the day and I tell all my sellers you're the
owner you're the decision-maker it's your home
it's your price you need to figure out what you need to do for you and your
family but you have to sell with this sense of urgency because you have to
understand the longer home sits on the market the less negotiating power you're
going to have and eventually it's just going to get chopped born and you're
gonna have to lower and lower and the lower the price so hopefully as I always
say in my videos to sellers interview smart get an agent that knows what the
heck they're doing someone who's going to tell you the truth not just someone
who tells you what you want to hear and someone who really understands the
market who understands negotiation and has a phenomenal phenomenal written
marketing package I hope this helps you you know anybody looking at selling a
home show this with them I do these videos for you I hope this
helps have a wonderful day