Back HomeHow long should your home for sale be listed?
When it comes to tips for selling your home, you’ve likely already received plenty of ideas on aspects like how to stage your property or what cost or fees you’ll incur as you make the sale. What probably has not come up is the amount of time you should have your home up for sale on the market.
For the sale of your property, its being listed basically goes hand-in-hand with your having an agent. In fact, it directly coincides with working with a real estate professional, as having them sign on to sell your home means they have the exclusive rights to market it and negotiate with potential sellers.
What’s important to keep in mind with the listing period is that even if it essentially represents the length of time you’ll be working with an agent, you will ultimately decide how long that will be. Granted, they’ll make a professional recommendation, but it’s still your home being listed, so you have the final say.
Do you need guidance on how long you ought to list your home? The following are different recommendations based on your property as well as your possible circumstances:
Thirty (30) days
If the market your home is in is one that is receiving a great deal of demand at the time of its sale, and properties in your neighborhood are being scooped up in less than four weeks, real estate agents might be amenable to listing it for only a month.
Thirty days is the ideal listing time if you need to sell your home quickly, as the shorter period will also give your chosen agent a greater sense of urgency when marketing your property.
However, should it indeed take longer than a month to sell, don’t begin having doubts about relisting with your agent just yet. Take into account the prices of the similar properties selling in your area, and see if you might’ve put yours on the market at too high a price that it might be turning potential buyers away.
Ninety (90) days
About three months is actually the more typical time frame for listing a home for sale, especially when the market is a little more tepid and properties aren’t always selling left and right.
Like anything else being sold, the thinking is “new is always better”, and as a result, your home will see a lot of attention from buyers when it hits the market. This is especially true when your property is priced right, and even if it isn’t bought immediately, potential buyers will keep it in mind as they check out the rest of their options.
The first 30 days is also a good time to get a ‘feel’ for the market, and see if you need to make some adjustments that can better help you get a successful sale. These can be things like changing your price, updating your listing photos, or rearranging a little bit before your property is viewed. Don’t be shy and ask your agent what to do, as that is why they are there.
One-hundred eighty (180) days
If you end up listing your property for over two months and still have no prospective buyers, you’re likely selling in a ‘buyers’ market’ where there are many choices and buyers can keep prices low. If this is the case, to sell at or near your preferred price can mean having to list a little longer.
In addition, if you enter a shorter listing contract, it might lapse while you are in escrow, and this is another reason why you may need to consider listing for a longer time, such as six months.
If you need to list for half a year, it is recommended to at least see if the agent you sign with is confident enough that they can successfully sell your home well before this period ends. This comes in the form of an option to cancel after ninety days in the event you are not satisfied with the marketing of your property, which a good agent can offer.
One Year
If your home for sale is located in a not-so-populous area or it happens to be a large property with a significant price tag, you might have to consider listing it for about a year. This is because if the location isn’t ‘hot’ or the property is expensive, the market is limited and it may take some time to find probable buyers.
Agents would also need the time to market your home property, and ensure that the plan they put together does indeed reach the unique buyers you are looking for. The extended listing time is also necessary, particularly for large estates, to help make sure the home is well-prepped every time it is to undergo a viewing.
While selling in a rush is an option, doing so might put you in a position of having to settle for a less than fair price for your home. With that said, it is paramount to give it enough time to have exposure on the market and reach buyers who are willing to take it at a fair amount.
Still not sure what’s the ideal time for your listing? Feel free to reach out to Susie Trafton from Berkshire Hathaway HomeServices Caliber Realty at 979.694.8844 for a professional assessment of your home and to get expert recommendations on how long to list it on the market, among other real estate services.
