Have you ever wondered why some homes in London, Ontario, sell quicker than others? For more money?
1% of houses are sold from Open Houses. Only if applicable, if thorough marketing and planning have been done for prospective buyers. Do not put out the open house sign at 1:00 PM on Sunday for a 2-4 Open House! Otherwise, the only people who go to open houses are looky-loos, nosy neighbours, or tire-kickers.
4% of houses are sold through newspaper or real estate publication advertising. These are called tombstone ads for a reason!
6% of homes are found by buyers themselves, or by the seller finding buyers themselves, such as a neighbour, relative, or someone at work. Usually, one party or the other hires a Realtor to handle the paperwork.
89% of homes are sold through the Multiple Listing Service when listed with a real estate brokerage – providing proper terms and an accurate market price. Yet 19.7% of homes listed, regardless of the market, do not sell!
Keep in mind, some just list homes, not sell them! A huge difference
How many Realtors sell real estate?
According to CREA (Canadian Association of Realtors), 7% of Realtors do 80% plus of the total real estate business nationwide! Good old Pareto’s 80/20 law. For example, if you had 100 homes for sale, seven Realtors would sell 80 homes, and 20 would divide the sale of seven homes among themselves!
That’s hard to do!
In today’s real estate market, the Realtor makes the difference if your home sells!
A real estate company’s size or name has little to do with selling your home or any other property. Yes, some companies sell hundreds of homes, but also have hundreds of Realtors. The average number of homes sold per Realtor is usually abysmal.
Do you think a home buyer cares what company name is on the sign, its colour, or its ego picture?
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