Should You Take Your Sellers Home Off The Market?

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Anthony Lamacchia: No product in the world can sell unless it’s on the shelf. Should the seller take the home off the market for the holidays? We all get this question every year at this time. Anthony Lamacchia here with Crush It In Real Estate, and I am bringing in Mr. Dave Karoly. Come over here, Dave, sit down. This is our vice president of sales, and this is someone who has literally been on over a thousand listing appointments. I believe he holds the title for most listing signed up in the company, and he’s now in management.

I am bringing him in to help with this conversation, because we know over the next few weeks, the agents are going to start getting tons of questions on. Should I take it off for the holiday? Shouldn’t I, blah, blah, blah, days on market. Let’s talk about it.

Dave Karoly: It depends on the situation. Is it a vacant property? What are the carrying costs going to be? What’s the mortgage payment, the taxes, and insurance going to look like? What does that look like? If you’re going to spend $10,000 carrying it over the winter to sell it for the same price in the spring, that doesn’t necessarily make a lot of sense. How about a sell-buy situation? I guess it’s harder to sell their home now, which means it’s also less competitive amongst other homes that they’d be looking to purchase.

Maybe it will be easier to sell their home in the spring, but they’re going to have much more competition on the buy side. You’re not really winning in that situation. Also think about it, you’re going to get less showings in the winter, but much more motivated buyers. Would your sellers rather show the home to 20 people, most of them tire kickers or would they rather show it to relocation type buyers, people that are looking to make a move? It depends on the situation. It’s really got to be the client deciding, but I think you got to look at them all differently.

Anthony: Correct, I agree, but generally speaking, in most cases, they’re probably better off staying on the market unless they truly don’t care. If it makes no difference to their life, whether they sell now or in the spring, and if they’ve been on for a month or two and they’re not selling, coming off and relisting in February, that could be okay. One thing you mentioned that I actually didn’t think of until you said it is, a sell-buy situation.

I’ve been saying for two months on market update videos that this fall is a much easier and better time to be a seller and a buyer at the same time than next spring will be, because of the competitiveness and that’s what you just pointed out. That’s something to take into account.

Dave: Especially if they’re upsizing. If you’re buying a more expensive house, you want to buy when it’s a good time to buy, which means, yes, it’s going to be a little harder to sell your home at the moment, but you’re going to win, because you’re buying a more expensive item.

Anthony: Also, we always talk about it, and you all should be talking to your sellers about it. You can sell their home 12 months a year, but the price is what matters. We all know, and I know some of you watching are thinking to yourself, I got this listing over here, the darn seller didn’t listen to me. I got this listing over there, and we’ve only had 10 showings. It’s amazing how much the market’s changed. We’ve heard agents say, “I have a listing that’s not selling.” Really, how many days on market? Nine. We’re like, “Wow.” That’s so awful.

That was normal years ago.

Keep those things in mind, but generally speaking, keeping the product on the shelf is going to increase the chances of it selling. We’re also now at the end of October. There’s always about a three-week race in the market for those buyers that are saying, I really want to buy before the end of the year, so they know they got to get going. The October lull is pretty much behind us at this point, which we always see in mid-October. I think that’s all.

Dave: At least with RMLS is 60 days off the market to gain fresh market history.

Anthony: Massachusetts.

Dave: Massachusetts, yes. They’re going to take it off at least wait another, like you said until the end of October is over, maybe mid-November, because they’ll still have plenty of time to get on, late January, early February that way.

Anthony: Exactly. We’ll keep all those things in mind my friends, and I also want to tell you, Mr. Dave here is going to be helping me with Crush It In Real Estate videos. We’re going to get into a lot more detail with listings, with buyers, with everything. He’s our main trainer along with me for our company, and he’s a wealth of knowledge. You’re going to see him in other videos coming up. I believe you’re going to be filming something on price adjustments, right?

Dave: Yes. Looking forward to it.

Anthony: That’ll be out in at some point in the next few days or weeks. So look out for it. Thanks, Dave.

Dave: Thank you.