Periodically we do statistical studies to see how our customers are doing, showing our customers' results in more detail than you will likely find from any other real estate company.  This includes follow up on what happens when sellers switch their homeselling strategies.  Those studies are posted here for your review.

In early December 2008 we looked back at what subsequently happened to properties that had canceled their listings in the six months ending December 31, 2007.

Of the 225 properties, 87 decided not to sell at that time for a variety of reasons such as refinancing, rental agreements, change in job status, remodeling, winter hiatus or wanting to wait out the bad market (one seller earned his real estate license and successfully represented himself).  One was an expired listing that signed a new agreement with MLS4owners.com.  The remaining 137 decided to be represented by a real estate agent. 

Of the 137 represented properties, 13 were still on the market, 49 had canceled or expired listings, and 73 had sold.  On average sellers had to reduce their price by $72,000 (11%) from their last asking price in order to complete the sale, and were on the market an additional 120 days.  They also paid a commission to their listing agent. 

Of the 73 that have sold, only 2 sold at or above their MLS4owners.com asking price.  Both of them switched to an agent early on, within 45 days of activation.  One of them had started with a 1.4% commission.  Fifteen of the 73 started their MLS4owners.com listings offering a buyer agent commission between $500 and 2%, and only 1 offered more than 3%.

Our prescription for selling is Pricing, Presentation and Patience.  During the period of study, zero sellers were able to sell at or above the price they were advertising through MLS4owners.com after exposing their property through MLS4owners.com for at least 90 days.  Agents from more than 500 different brokerages have helped Washingtonians buy homes from customers of MLS4owners.com.

Of course there are good reasons for wanting representation, especially when one’s circumstances have changed.  However, our 2008 study had similar results to our 2002, 2003 and 2005 studies which showed that if a home is priced right for its condition and location, and given the MLS4owners.com exposure that meets or exceeds full service exposure, it will sell!

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